Tactile Systems Technology (NASDAQ:TCMD) VP Sells $148,260.15 in Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) VP Kristie Burns sold 5,139 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $28.85, for a total transaction of $148,260.15. Following the sale, the vice president owned 72,401 shares in the company, valued at approximately $2,088,768.85. This represents a 6.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Tactile Systems Technology Stock Performance

TCMD opened at $30.73 on Friday. The company has a fifty day moving average of $26.62 and a two-hundred day moving average of $17.44. The stock has a market capitalization of $686.39 million, a price-to-earnings ratio of 39.91 and a beta of 0.91. Tactile Systems Technology, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $31.13.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, November 3rd. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.20. Tactile Systems Technology had a return on equity of 8.84% and a net margin of 5.83%.The firm had revenue of $85.76 million for the quarter, compared to analysts’ expectations of $79.31 million. On average, equities research analysts forecast that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Institutional Investors Weigh In On Tactile Systems Technology

A number of hedge funds have recently modified their holdings of TCMD. Trexquant Investment LP acquired a new position in Tactile Systems Technology during the first quarter worth about $232,000. EP Wealth Advisors LLC purchased a new position in Tactile Systems Technology in the 1st quarter worth approximately $138,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Tactile Systems Technology during the 1st quarter worth approximately $534,000. Goldman Sachs Group Inc. grew its position in shares of Tactile Systems Technology by 2.1% in the first quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company’s stock valued at $2,471,000 after purchasing an additional 3,898 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Tactile Systems Technology by 149.1% in the first quarter. Acadian Asset Management LLC now owns 196,270 shares of the company’s stock valued at $2,594,000 after purchasing an additional 117,480 shares in the last quarter. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TCMD has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a research report on Monday, December 29th. Piper Sandler set a $35.00 price objective on shares of Tactile Systems Technology in a research report on Monday. Lake Street Capital increased their price objective on shares of Tactile Systems Technology from $23.50 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Zacks Research cut shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.75.

Tactile Systems Technology Company Profile

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.