Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine M. Birkemeyer Sells 3,778 Shares

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine M. Birkemeyer sold 3,778 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $14.70, for a total transaction of $55,536.60. Following the sale, the chief financial officer now directly owns 104,098 shares in the company, valued at $1,530,240.60. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tactile Systems Technology Price Performance

TCMD opened at $14.52 on Thursday. The company’s 50 day simple moving average is $17.09 and its 200 day simple moving average is $15.72. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.80 and a current ratio of 4.36. Tactile Systems Technology, Inc. has a 1 year low of $11.12 and a 1 year high of $21.10. The stock has a market capitalization of $342.45 million, a PE ratio of 20.74 and a beta of 1.20.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.09. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. The business had revenue of $85.59 million for the quarter, compared to analysts’ expectations of $85.39 million. As a group, sell-side analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Tactile Systems Technology by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 1,483,692 shares of the company’s stock valued at $25,416,000 after buying an additional 4,509 shares during the period. Dimensional Fund Advisors LP raised its holdings in Tactile Systems Technology by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company’s stock valued at $15,444,000 after buying an additional 67,934 shares during the period. Wasatch Advisors LP raised its holdings in Tactile Systems Technology by 9.8% in the third quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock valued at $10,624,000 after buying an additional 64,684 shares during the period. Royce & Associates LP raised its holdings in Tactile Systems Technology by 2.5% in the third quarter. Royce & Associates LP now owns 612,979 shares of the company’s stock valued at $8,956,000 after buying an additional 14,780 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Tactile Systems Technology by 1.5% in the third quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock valued at $8,164,000 after buying an additional 8,422 shares during the period. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. B. Riley cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $18.00 in a research note on Wednesday, February 19th. StockNews.com cut shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 5th. Finally, Oppenheimer cut shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.