Tactile Systems Technology (NASDAQ:TCMD) VP Sells $125,623.70 in Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) VP Kristie Burns sold 4,439 shares of the firm’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 $125,623.70. Following the sale, the vice president owned 88,827 shares in the company, valued at approximately $2,513,804.10. The trade was a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Kristie Burns also recently made the following trade(s):

• On Friday, January 2nd, Kristie Burns sold 5,139 shares of Tactile Systems Technology stock. The stock was sold at an average price of $28.85, for a total value of $148,260.15.

Tactile Systems Technology Trading Down 0.0%

NASDAQ:TCMD traded down $0.01 during trading hours on Tuesday, hitting $28.65. The stock had a trading volume of 554,280 shares, compared to its average volume of 388,124. The company has a market cap of $642.88 million, a PE ratio of 34.52 and a beta of 0.96. The business has a 50 day simple moving average of $29.09 and a two-hundred day simple moving average of $21.84. Tactile Systems Technology, Inc. has a 1-year low of $8.61 and a 1-year high of $37.77.

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

Institutional Trading of Tactile Systems Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its position in shares of Tactile Systems Technology by 1,594.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after buying an additional 1,993 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Tactile Systems Technology during the fourth quarter worth about $32,000. Quarry LP lifted its holdings in Tactile Systems Technology by 302.6% in the third quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after acquiring an additional 1,743 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Tactile Systems Technology in the fourth quarter worth about $36,000. Finally, Global Retirement Partners LLC acquired a new position in Tactile Systems Technology in the fourth quarter valued at approximately $37,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TCMD. BTIG Research raised their target price on Tactile Systems Technology from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Monday, December 29th. Piper Sandler raised their price objective on Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Lake Street Capital set a $40.00 target price on Tactile Systems Technology and gave the company a “buy” rating in a research report on Wednesday, February 18th. Finally, Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Tactile Systems Technology currently has an average rating of “Moderate Buy” and a consensus target price of $37.40.

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.