Tactile Systems Technology, Inc. (NASDAQ:TCMD) Short Interest Up 81.2% in May

Tactile Systems Technology, Inc. (NASDAQ:TCMD – Get Rating) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 719,000 shares, a growth of 81.2% from the April 30th total of 396,800 shares. Based on an average daily volume of 279,100 shares, the days-to-cover ratio is currently 2.6 days.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler increased their price objective on shares of Tactile Systems Technology from $25.00 to $30.00 in a report on Tuesday, May 9th. StockNews.com downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 17th. Oppenheimer increased their price target on shares of Tactile Systems Technology from $18.00 to $24.00 in a report on Tuesday, May 9th. TheStreet raised shares of Tactile Systems Technology from a “d+” rating to a “c-” rating in a research report on Tuesday. Finally, BTIG Research increased their price objective on shares of Tactile Systems Technology from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, April 17th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $27.33.

Insider Buying and Selling

In other news, Director William W. Burke sold 4,400 shares of Tactile Systems Technology stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $21.86, for a total transaction of $96,184.00. Following the completion of the transaction, the director now directly owns 27,773 shares in the company, valued at $607,117.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Brent Moen sold 3,801 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $15.36, for a total value of $58,383.36. Following the completion of the sale, the chief financial officer now directly owns 50,402 shares in the company, valued at approximately $774,174.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William W. Burke sold 4,400 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $21.86, for a total value of $96,184.00. Following the completion of the sale, the director now owns 27,773 shares of the company’s stock, valued at $607,117.78. The disclosure for this sale can be found here. Insiders have sold 18,927 shares of company stock valued at $319,642 over the last ninety days. 0.96% of the stock is owned by insiders.

Institutional Trading of Tactile Systems Technology

Several large investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in shares of Tactile Systems Technology by 426.6% during the second quarter. Millennium Management LLC now owns 973,542 shares of the company’s stock valued at $7,107,000 after acquiring an additional 788,667 shares during the last quarter. First Light Asset Management LLC purchased a new position in shares of Tactile Systems Technology during the first quarter worth $11,494,000. Perceptive Advisors LLC purchased a new position in shares of Tactile Systems Technology during the first quarter worth $10,507,000. Renaissance Technologies LLC purchased a new position in shares of Tactile Systems Technology during the second quarter worth $2,978,000. Finally, Next Century Growth Investors LLC purchased a new position in shares of Tactile Systems Technology during the first quarter worth $4,570,000. Hedge funds and other institutional investors own 83.99% of the company’s stock.

Tactile Systems Technology Stock Down 0.2 %

Shares of TCMD traded down $0.03 during trading hours on Friday, hitting $19.79. The company had a trading volume of 119,341 shares, compared to its average volume of 227,594. The company has a market capitalization of $459.92 million, a PE ratio of -99.10 and a beta of 1.23. The company has a current ratio of 2.83, a quick ratio of 2.44 and a debt-to-equity ratio of 0.29. Tactile Systems Technology has a one year low of $6.28 and a one year high of $22.47. The company’s fifty day moving average price is $18.33 and its two-hundred day moving average price is $14.14.

Tactile Systems Technology (NASDAQ:TCMD – Get Rating) last announced its earnings results on Monday, May 8th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.24. Tactile Systems Technology had a positive return on equity of 3.28% and a negative net margin of 1.62%. The firm had revenue of $58.85 million for the quarter, compared to the consensus estimate of $54.32 million.

About Tactile Systems Technology

(Get Rating)

Tactile Systems Technology, Inc is a medical technology company. It develops and provides innovative medical devices for the treatment of chronic diseases at home. The firm focus on advancing the standard of care in treating chronic diseases in the home setting to improve patient outcomes and quality of life and help control rising healthcare expenditures.