Insider Selling: Tactile Systems Technology (NASDAQ:TCMD) CEO Sells $431,292.00 in Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CEO Sheri Louise Dodd sold 15,240 shares of Tactile Systems Technology stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $28.30, for a total transaction of $431,292.00. Following the transaction, the chief executive officer directly owned 254,878 shares of the company’s stock, valued at $7,213,047.40. The trade was a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Sheri Louise Dodd also recently made the following trade(s):

• On Tuesday, February 24th, Sheri Louise Dodd sold 10,993 shares of Tactile Systems Technology stock. The stock was sold at an average price of $28.94, for a total transaction of $318,137.42.

Tactile Systems Technology Trading Up 1.0%

TCMD stock opened at $29.91 on Friday. The stock has a market cap of $671.18 million, a PE ratio of 36.04 and a beta of 0.96. Tactile Systems Technology, Inc. has a 12 month low of $8.61 and a 12 month high of $37.77. The company has a 50-day moving average price of $29.10 and a 200 day moving average price of $21.95.

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

Wall Street Analyst Weigh In

TCMD has been the topic of several research analyst reports. BTIG Research upped 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 shares of Tactile Systems Technology and gave the company a “buy” rating in a research note on Wednesday, February 18th. Wall Street Zen raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Monday, December 29th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.40.

Institutional Trading of Tactile Systems Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. grew its holdings in Tactile Systems Technology by 3.5% during the 2nd quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock worth $247,000 after acquiring an additional 835 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Tactile Systems Technology during the fourth quarter valued at approximately $32,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Tactile Systems Technology by 5.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,957 shares of the company’s stock valued at $695,000 after purchasing an additional 1,215 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Tactile Systems Technology in the fourth quarter worth approximately $36,000. Finally, Global Retirement Partners LLC bought a new position in Tactile Systems Technology in the fourth quarter worth 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.