Tactile Systems Technology (NASDAQ:TCMD) CFO Sells $156,159.40 in Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine Birkemeyer sold 5,518 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $28.30, for a total transaction of $156,159.40. Following the completion of the sale, the chief financial officer owned 142,520 shares in the company, valued at $4,033,316. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Tactile Systems Technology Stock Up 1.0%

NASDAQ TCMD opened at $29.91 on Friday. Tactile Systems Technology, Inc. has a 52 week low of $8.61 and a 52 week 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. The firm has a market cap of $671.18 million, a PE ratio of 36.04 and a beta of 0.96.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TCMD. Lake Street Capital set a $40.00 target price on Tactile Systems Technology and gave the company a “buy” rating in a research report on Wednesday, February 18th. Piper Sandler upped their price objective on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Raymond James Financial set a $35.00 price objective on shares of Tactile Systems Technology in a research report on Monday, January 5th. Zacks Research downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Tactile Systems Technology presently has an average rating of “Moderate Buy” and an average target price of $37.40.

Institutional Investors Weigh In On Tactile Systems Technology

A number of large investors have recently bought and sold shares of TCMD. Caitong International Asset Management Co. Ltd acquired a new position in Tactile Systems Technology in the 4th quarter worth approximately $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Tactile Systems Technology in the 4th quarter valued at $36,000. Global Retirement Partners LLC acquired a new stake in shares of Tactile Systems Technology in the fourth quarter worth $37,000. Russell Investments Group Ltd. raised its holdings in shares of Tactile Systems Technology by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after purchasing an additional 1,993 shares during the last quarter. Finally, Quarry LP lifted its position in Tactile Systems Technology by 302.6% during the third quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after purchasing an additional 1,743 shares during the period. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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.