Insider Selling: Tactile Systems Technology (NASDAQ:TCMD) CFO Sells 4,631 Shares of Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine Birkemeyer sold 4,631 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $24.49, for a total transaction of $113,413.19. Following the transaction, the chief financial officer directly owned 130,188 shares in the company, valued at approximately $3,188,304.12. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tactile Systems Technology Stock Performance

NASDAQ:TCMD traded down $0.24 during mid-day trading on Wednesday, reaching $23.29. 401,108 shares of the company’s stock were exchanged, compared to its average volume of 344,123. Tactile Systems Technology, Inc. has a one year low of $9.34 and a one year high of $37.77. The firm has a market capitalization of $525.42 million, a PE ratio of 26.47 and a beta of 0.82. The business’s fifty day simple moving average is $25.89 and its two-hundred day simple moving average is $26.46.

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

Institutional Investors Weigh In On Tactile Systems Technology

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Tactile Systems Technology by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company’s stock worth $47,884,000 after buying an additional 76,198 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its stake in shares of Tactile Systems Technology by 5.9% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock valued at $16,413,000 after purchasing an additional 89,600 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Tactile Systems Technology by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,191,207 shares of the company’s stock valued at $16,486,000 after purchasing an additional 24,001 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Tactile Systems Technology by 19.4% in the 4th quarter. Federated Hermes Inc. now owns 645,408 shares of the company’s stock valued at $18,717,000 after purchasing an additional 104,648 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Tactile Systems Technology by 0.3% in the 4th quarter. Deutsche Bank AG now owns 578,669 shares of the company’s stock valued at $16,781,000 after purchasing an additional 1,482 shares in the last quarter. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on TCMD shares. Lake Street Capital set a $40.00 price target on shares of Tactile Systems Technology and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Weiss Ratings downgraded shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. BTIG Research increased their price objective on shares of Tactile Systems Technology from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Piper Sandler increased their price objective on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Finally, B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $32.00 to $36.00 in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.