Elaine Birkemeyer Sells 4,631 Shares of Tactile Systems Technology (NASDAQ:TCMD) Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine Birkemeyer sold 4,631 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $24.49, for a total transaction of $113,413.19. Following the completion of the sale, the chief financial officer owned 130,188 shares in the company, valued at approximately $3,188,304.12. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tactile Systems Technology Stock Performance

Shares of TCMD traded down $0.24 during mid-day trading on Wednesday, reaching $23.29. The company had a trading volume of 401,108 shares, compared to its average volume of 344,123. The company’s 50 day simple moving average is $25.89 and its 200 day simple moving average is $26.46. Tactile Systems Technology, Inc. has a 1-year low of $9.34 and a 1-year high of $37.77. The company has a market capitalization of $525.42 million, a price-to-earnings ratio of 26.47 and a beta of 0.82.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. The company had revenue of $75.27 million during the quarter, compared to analyst estimates of $70.57 million. As a group, equities analysts forecast that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current fiscal year.

Institutional Trading of Tactile Systems Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of TCMD. LSV Asset Management boosted its holdings in Tactile Systems Technology by 304.8% during the 3rd quarter. LSV Asset Management now owns 146,945 shares of the company’s stock worth $2,034,000 after acquiring an additional 110,645 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in shares of Tactile Systems Technology in the 4th quarter worth about $1,587,000. Range Financial Group LLC bought a new stake in Tactile Systems Technology in the 4th quarter valued at about $1,291,000. Integrated Quantitative Investments LLC bought a new stake in Tactile Systems Technology in the 3rd quarter valued at about $361,000. Finally, RFG Advisory LLC bought a new stake in Tactile Systems Technology in the 4th quarter valued at about $1,529,000. Institutional investors own 83.43% of the company’s stock.

Analysts Set New Price Targets

TCMD has been the topic of several recent research reports. Weiss Ratings downgraded shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Lake Street Capital set a $40.00 target price on shares of Tactile Systems Technology and gave the stock a “buy” rating in a research report on Wednesday, February 18th. B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $32.00 to $36.00 in a research report on Thursday, May 7th. Piper Sandler lifted their target price on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Finally, BTIG Research lifted their target price on shares of Tactile Systems Technology from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Tactile Systems Technology has a consensus rating of “Moderate Buy” and a consensus price target of $38.60.

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.