Tactile Systems Technology (NASDAQ:TCMD) Stock: Insider Laura King Sells 4,800 Shares

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director Laura King sold 4,800 shares of Tactile Systems Technology stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $25.00, for a total value of $120,000.00. Following the completion of the transaction, the director owned 20,769 shares of the company’s stock, valued at approximately $519,225. The trade was a 18.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tactile Systems Technology Stock Down 1.3%

NASDAQ:TCMD opened at $26.03 on Friday. The company has a fifty day moving average of $22.93 and a 200-day moving average of $25.82. Tactile Systems Technology, Inc. has a twelve month low of $20.53 and a twelve month high of $37.77. The firm has a market capitalization of $589.58 million, a P/E ratio of 22.20 and a beta of 0.95.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, November 2nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Tactile Systems Technology had a net margin of 6.68% and a return on equity of 10.82%. The company had revenue of $91.86 million for the quarter, compared to the consensus estimate of $91.99 million. On average, analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TCMD shares. Wall Street Zen upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st. Weiss Ratings lowered shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, BTIG Research dropped their target price on Tactile Systems Technology from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tactile Systems Technology has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. USA Financial Formulas acquired a new stake in shares of Tactile Systems Technology in the 1st quarter valued at $71,000. Summit Securities Group LLC purchased a new stake in Tactile Systems Technology during the 1st quarter valued at about $75,000. Versant Capital Management Inc boosted its stake in Tactile Systems Technology by 36.4% in the 2nd quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock worth $98,000 after purchasing an additional 876 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Tactile Systems Technology during the 2nd quarter valued at $101,000. Finally, IFP Advisors Inc raised its position in Tactile Systems Technology by 24.3% in the 2nd quarter. IFP Advisors Inc now owns 3,606 shares of the company’s stock worth $107,000 after purchasing an additional 704 shares during the period. 83.43% of the stock is owned by hedge funds and other institutional investors.

About Tactile Systems Technology

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.