Tactile Systems Technology (NASDAQ:TCMD) CFO Sells $222,866.94 in Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine Birkemeyer sold 7,701 shares of Tactile Systems Technology stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total transaction of $222,866.94. Following the transaction, the chief financial officer directly owned 134,819 shares of the company’s stock, valued at approximately $3,901,661.86. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Tactile Systems Technology Trading Up 1.0%

TCMD traded up $0.30 during midday trading on Thursday, reaching $29.91. The company’s stock had a trading volume of 332,975 shares, compared to its average volume of 391,581. Tactile Systems Technology, Inc. has a 1 year low of $8.61 and a 1 year high of $37.77. The stock’s 50-day moving average is $29.09 and its 200-day moving average is $21.89. The firm has a market capitalization of $671.18 million, a price-to-earnings ratio of 36.04 and a beta of 0.96.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on TCMD. Piper Sandler upped their target price on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Monday, December 29th. BTIG Research increased their price objective on Tactile Systems Technology from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Lake Street Capital set a $40.00 target price on Tactile Systems Technology and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Finally, Zacks Research cut shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. One investment 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 data from MarketBeat, Tactile Systems Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.40.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TCMD. Russell Investments Group Ltd. boosted its stake in shares of Tactile Systems Technology by 1,594.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after acquiring an additional 1,993 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Tactile Systems Technology in the 4th quarter worth $32,000. Quarry LP raised its holdings in Tactile Systems Technology by 302.6% in 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Tactile Systems Technology during the fourth quarter valued at $36,000. Finally, Global Retirement Partners LLC bought a new stake in Tactile Systems Technology during the fourth quarter valued at about $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.