Tactile Systems Technology (NASDAQ:TCMD) CEO Sells $431,292.00 in Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CEO Sheri Louise Dodd sold 15,240 shares of Tactile Systems Technology stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $28.30, for a total value of $431,292.00. Following the completion of the transaction, the chief executive officer owned 254,878 shares of the company’s stock, valued at approximately $7,213,047.40. The trade was a 5.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Tactile Systems Technology Stock Down 0.0%

NASDAQ:TCMD traded down $0.01 during mid-day trading on Tuesday, reaching $28.65. 554,280 shares of the company were exchanged, compared to its average volume of 388,124. The stock has a market cap of $642.88 million, a PE ratio of 34.52 and a beta of 0.96. Tactile Systems Technology, Inc. has a 12 month low of $8.61 and a 12 month high of $37.77. The company has a fifty day moving average of $29.09 and a 200 day moving average of $21.72.

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, topping 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 return on equity of 9.26% and a net margin of 5.79%. On average, equities research analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TCMD shares. Zacks Research lowered Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Raymond James Financial set a $35.00 price objective on shares of Tactile Systems Technology in a research report on Monday, January 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Monday, December 29th. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Finally, B. Riley Financial lifted their price objective on shares of Tactile Systems Technology from $16.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.40.

Institutional Investors Weigh In On Tactile Systems Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 76,198 shares during the period. Paradigm Capital Management Inc. NY increased its position in shares of Tactile Systems Technology by 5.9% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock worth $16,413,000 after purchasing an additional 89,600 shares during the period. Dimensional Fund Advisors LP grew its stake in Tactile Systems Technology by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,191,207 shares of the company’s stock worth $16,486,000 after buying an additional 24,001 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Tactile Systems Technology by 248.3% in 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 in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Tactile Systems Technology by 19.4% during the fourth 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. Institutional investors and hedge funds own 83.43% of the company’s stock.

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.