Tactile Systems Technology (NASDAQ:TCMD) CFO Elaine Birkemeyer Sells 5,518 Shares of Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine Birkemeyer sold 5,518 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $28.30, for a total value of $156,159.40. Following the transaction, the chief financial officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Tactile Systems Technology Stock Performance

Tactile Systems Technology stock opened at $28.65 on Wednesday. The stock has a market cap of $642.91 million, a PE ratio of 34.52 and a beta of 0.96. The stock has a 50-day moving average of $29.09 and a two-hundred day moving average of $21.84. Tactile Systems Technology, Inc. has a one year low of $8.61 and a one year high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. The firm had revenue of $103.59 million for 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%. As a group, sell-side analysts predict that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on TCMD. Zacks Research cut shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Raymond James Financial set a $35.00 target price on Tactile Systems Technology in a research note on Monday, January 5th. Piper Sandler lifted their price target on 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 increased their price objective on Tactile Systems Technology from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Tactile Systems Technology has an average rating of “Moderate Buy” and a consensus target price of $37.40.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC lifted its position in Tactile Systems Technology by 248.3% during the second quarter. Acadian Asset Management LLC now owns 683,662 shares of the company’s stock valued at $6,930,000 after purchasing an additional 487,392 shares during the period. Next Century Growth Investors LLC acquired a new position in shares of Tactile Systems Technology in the 4th quarter valued at about $11,309,000. Marshall Wace LLP purchased a new stake in shares of Tactile Systems Technology in the fourth quarter worth about $7,700,000. Janus Henderson Group PLC acquired a new stake in Tactile Systems Technology during the fourth quarter worth about $5,503,000. Finally, LSV Asset Management raised its position in Tactile Systems Technology by 119.8% during the fourth quarter. LSV Asset Management now owns 323,004 shares of the company’s stock valued at $9,367,000 after acquiring an additional 176,059 shares in the last quarter. 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.