Kristie Burns Sells 6,246 Shares of Tactile Systems Technology (NASDAQ:TCMD) Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) VP Kristie Burns sold 6,246 shares of Tactile Systems Technology stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total value of $180,759.24. Following the completion of the sale, the vice president directly owned 82,581 shares of the company’s stock, valued at $2,389,894.14. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Kristie Burns also recently made the following trade(s):

• On Monday, February 23rd, Kristie Burns sold 4,439 shares of Tactile Systems Technology stock. The shares were sold at an average price of $28.30, for a total value of $125,623.70.
• On Friday, January 2nd, Kristie Burns sold 5,139 shares of Tactile Systems Technology stock. The stock was sold at an average price of $28.85, for a total value of $148,260.15.

Tactile Systems Technology Stock Performance

NASDAQ:TCMD traded up $0.30 on Thursday, hitting $29.91. 332,975 shares of the stock were exchanged, compared to its average volume of 391,581. Tactile Systems Technology, Inc. has a 52 week low of $8.61 and a 52 week high of $37.77. The stock has a market capitalization of $671.18 million, a price-to-earnings ratio of 36.04 and a beta of 0.96. The company’s 50-day moving average price is $29.09 and its 200 day moving average price is $21.89.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Tuesday, February 17th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. The company had revenue of $103.59 million for the quarter, compared to analyst estimates of $93.80 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.26%. As a group, equities research analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TCMD shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Monday, December 29th. Lake Street Capital set a $40.00 price objective on Tactile Systems Technology and gave the company a “buy” rating in a report on Wednesday, February 18th. BTIG Research raised their target price on Tactile Systems Technology from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Zacks Research lowered Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Wall Street Zen upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.40.

Institutional Investors Weigh In On Tactile Systems Technology

Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. raised its position in shares of Tactile Systems Technology by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after purchasing an additional 1,993 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Tactile Systems Technology during the 4th quarter worth approximately $32,000. Quarry LP increased its stake in Tactile Systems Technology by 302.6% during the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after purchasing an additional 1,743 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Tactile Systems Technology during the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC bought a new position in Tactile Systems Technology in the fourth quarter valued at approximately $37,000. 83.43% of the stock is currently owned by institutional investors.

About Tactile Systems Technology

Tactile Systems Technology, Inc, headquartered in Plymouth, Minnesota, is a medical device company specializing in the design, manufacture and marketing of home-use pneumatic compression therapy systems for the treatment of lymphedema and other chronic edema-related conditions. Using proprietary software and patented pump technologies, the company’s platforms are designed to improve patient outcomes through sequential pressure treatment that promotes fluid mobilization and enhanced lymphatic function.

At the core of Tactile Systems’ product portfolio is the Flexitouch® system, a programmable pneumatic pump and garment system approved for home use, and the Aria® device, which features an intuitive touchscreen interface and advanced garment design.