Insider Selling: Tactile Systems Technology (NASDAQ:TCMD) Director Sells 4,800 Shares of Company Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director Laura King sold 4,800 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $25.00, for a total value of $120,000.00. Following the completion of the transaction, the director directly owned 20,769 shares in the company, valued at approximately $519,225. This trade represents a 18.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tactile Systems Technology Price Performance

Shares of TCMD stock traded down $0.81 during trading hours on Thursday, hitting $26.37. The company had a trading volume of 313,059 shares, compared to its average volume of 304,925. The stock has a market capitalization of $597.33 million, a PE ratio of 25.60 and a beta of 0.95. The company’s fifty day moving average is $22.82 and its 200 day moving average is $25.86. Tactile Systems Technology, Inc. has a fifty-two week low of $20.53 and a fifty-two week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, November 2nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Tactile Systems Technology had a net margin of 6.68% and a return on equity of 10.73%. The company had revenue of $91.86 million for the quarter, compared to analyst estimates of $91.99 million. Equities analysts forecast that Tactile Systems Technology, Inc. will post 1.10 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on TCMD. Wall Street Zen raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 31st. BTIG Research decreased their price objective on shares of Tactile Systems Technology from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Weiss Ratings downgraded shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Tactile Systems Technology currently has an average rating of “Moderate Buy” and a consensus price target of $36.80.

Institutional Trading of Tactile Systems Technology

A number of large investors have recently bought and sold shares of TCMD. Allspring Global Investments Holdings LLC raised its holdings in shares of Tactile Systems Technology by 4.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,071 shares of the company’s stock valued at $425,000 after buying an additional 749 shares during the last quarter. State of Wyoming grew its holdings in shares of Tactile Systems Technology by 68.1% during the third quarter. State of Wyoming now owns 18,941 shares of the company’s stock worth $422,000 after buying an additional 7,670 shares during the last quarter. Inspire Investing LLC purchased a new position in shares of Tactile Systems Technology during the third quarter worth about $2,456,000. Pinnacle Associates Ltd. grew its holdings in shares of Tactile Systems Technology by 0.3% during the third quarter. Pinnacle Associates Ltd. now owns 327,967 shares of the company’s stock worth $7,310,000 after buying an additional 850 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in Tactile Systems Technology by 18.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 7,113 shares of the company’s stock valued at $158,000 after acquiring an additional 1,132 shares during the period. Institutional investors and hedge funds own 83.43% of the company’s stock.

About Tactile Systems Technology

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.