Insider Selling: Tactile Systems Technology (NASDAQ:TCMD) CFO Sells $222,866.94 in Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine Birkemeyer sold 7,701 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total value of $222,866.94. Following the transaction, the chief financial officer owned 134,819 shares in the company, valued at approximately $3,901,661.86. This trade represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tactile Systems Technology Price Performance

Shares of NASDAQ:TCMD opened at $29.29 on Friday. The stock has a market capitalization of $657.27 million, a P/E ratio of 35.29 and a beta of 0.96. The business has a 50-day moving average of $29.11 and a two-hundred day moving average of $22.13. Tactile Systems Technology, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Tactile Systems Technology had a return on equity of 9.26% and a net margin of 5.79%.The business had revenue of $103.59 million for the quarter, compared to the consensus estimate of $93.80 million. As a group, research analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TCMD has been the subject of a number of analyst reports. Lake Street Capital set a $40.00 price objective on shares of Tactile Systems Technology and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Wall Street Zen upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. BTIG Research upped their price target on shares of Tactile Systems Technology from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Zacks Research downgraded Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Raymond James Financial set a $35.00 price objective on Tactile Systems Technology in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Tactile Systems Technology presently has an average rating of “Moderate Buy” and a consensus target price of $37.40.

Hedge Funds Weigh In On Tactile Systems Technology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings in shares of Tactile Systems Technology by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock valued at $29,000 after acquiring an additional 1,993 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Tactile Systems Technology in the fourth quarter valued at about $32,000. Quarry LP grew its position in shares of Tactile Systems Technology by 302.6% during the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after buying an additional 1,743 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Tactile Systems Technology during the 4th quarter worth $36,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Tactile Systems Technology during the fourth quarter worth $37,000. 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.