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

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

Tactile Systems Technology Trading Down 3.0%

TCMD opened at $26.37 on Friday. Tactile Systems Technology, Inc. has a 1-year low of $20.53 and a 1-year high of $37.77. The company has a market cap of $589.11 million, a P/E ratio of 26.39 and a beta of 0.95. The company has a fifty day moving average price of $22.87 and a two-hundred day moving average price of $25.84.

Tactile Systems Technology (NASDAQ:TCMD) last released 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. The company had revenue of $91.86 million for 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%. On average, research analysts forecast that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. USA Financial Formulas purchased a new stake in shares of Tactile Systems Technology in the first quarter valued at about $71,000. Summit Securities Group LLC bought a new position in shares of Tactile Systems Technology during the first quarter valued at about $75,000. Versant Capital Management Inc lifted its position in shares of 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 purchasing an additional 876 shares in the last quarter. Quantbot Technologies LP purchased a new position in Tactile Systems Technology during the second quarter worth about $101,000. Finally, IFP Advisors Inc boosted its holdings in Tactile Systems Technology by 24.3% during the second 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 last quarter. 83.43% of the stock is owned by institutional investors.

Key Headlines Impacting Tactile Systems Technology

Here are the key news stories impacting Tactile Systems Technology this week:

• Positive Sentiment: TCMD moved above its 200-day moving average, which Zacks described as a potentially bullish long-term technical signal. Article: Tactile Systems Technology Just Reclaimed the 200-Day Moving Average
• Positive Sentiment: Analyst price targets imply potential upside, and Zacks noted positive earnings-estimate revisions; it cautioned that price targets are not always reliable predictors. Article: Wall Street Analysts Think TCMD Could Surge
• Neutral Sentiment: Director Laura G. King sold 4,800 shares for $120,000, reducing her direct stake by 18.77%. The sale was made under a pre-arranged Rule 10b5-1 plan, which makes it less clearly a reaction to current company prospects. SEC Form 4
• Negative Sentiment: BTIG issued a pessimistic forecast, and a separate report linked TCMD shares gapping lower to an analyst downgrade. These reports point to weaker analyst sentiment as the main near-term headwind; the provided details do not specify the revised rating or price target. Article: BTIG Issues Pessimistic Forecast Article: TCMD Shares Gap Down Following Analyst Downgrade

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st. BTIG Research decreased their price objective on Tactile Systems Technology from $35.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Weiss Ratings lowered Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Tactile Systems Technology currently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

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.