Tactile Systems Technology (NASDAQ:TCMD) Director William Burke Sells 5,000 Shares of Company Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director William Burke sold 5,000 shares of Tactile Systems Technology stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $27.00, for a total transaction of $135,000.00. Following the completion of the transaction, the director owned 50,041 shares in the company, valued at approximately $1,351,107. This trade represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tactile Systems Technology Stock Performance

Shares of TCMD opened at $26.59 on Tuesday. The stock has a market capitalization of $594.02 million, a P/E ratio of 26.39 and a beta of 0.95. Tactile Systems Technology, Inc. has a 1 year low of $20.53 and a 1 year high of $37.77. The company’s fifty day moving average is $23.00 and its two-hundred day moving average is $25.80.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, November 2nd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. The company had revenue of $91.86 million during the quarter, compared to analysts’ expectations of $91.99 million. Tactile Systems Technology had a net margin of 6.68% and a return on equity of 10.73%. Sell-side analysts predict that Tactile Systems Technology, Inc. will post 1.11 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Weiss Ratings downgraded shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, November 3rd. BTIG Research lowered their price objective on Tactile Systems Technology from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, November 3rd. Finally, Wall Street Zen cut Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.80.

Institutional Trading of Tactile Systems Technology

Several large investors have recently bought and sold shares of the company. Quantinno Capital Management LP raised its position in shares of Tactile Systems Technology by 1.3% in the 1st quarter. Quantinno Capital Management LP now owns 53,612 shares of the company’s stock worth $1,401,000 after buying an additional 684 shares during the period. IFP Advisors Inc boosted its holdings in Tactile Systems Technology by 24.3% in the second quarter. IFP Advisors Inc now owns 3,606 shares of the company’s stock valued at $107,000 after acquiring an additional 704 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Tactile Systems Technology by 4.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 19,071 shares of the company’s stock valued at $425,000 after acquiring an additional 749 shares during the period. Pinnacle Associates Ltd. grew its position in Tactile Systems Technology by 0.3% during the third quarter. Pinnacle Associates Ltd. now owns 327,967 shares of the company’s stock valued at $7,310,000 after acquiring an additional 850 shares during the period. Finally, Versant Capital Management Inc grew its position in Tactile Systems Technology by 36.4% during the second quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock valued at $98,000 after acquiring an additional 876 shares during the period. Institutional investors and hedge funds own 83.43% of the company’s stock.

Tactile Systems Technology Company Profile

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.