Elaine Birkemeyer Sells 7,701 Shares of Tactile Systems Technology (NASDAQ:TCMD) Stock

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

Tactile Systems Technology Price Performance

Shares of Tactile Systems Technology stock opened at $29.29 on Friday. Tactile Systems Technology, Inc. has a 52-week low of $8.61 and a 52-week high of $37.77. The firm has a market capitalization of $657.27 million, a PE ratio of 35.29 and a beta of 0.96. The company’s fifty day moving average price is $29.11 and its two-hundred day moving average price is $22.07.

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

Analyst Upgrades and Downgrades

TCMD has been the topic of several analyst reports. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. B. Riley Financial boosted their price target on Tactile Systems Technology from $16.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Zacks Research lowered Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Piper Sandler lifted their price objective on Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Finally, BTIG Research boosted their target price on shares of Tactile Systems Technology from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. Based on 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 institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new position in Tactile Systems Technology during the 4th quarter worth about $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Tactile Systems Technology in the fourth quarter worth about $36,000. Global Retirement Partners LLC acquired a new position in shares of Tactile Systems Technology during the fourth quarter worth approximately $37,000. Russell Investments Group Ltd. grew its stake 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 purchasing an additional 1,993 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Tactile Systems Technology by 302.6% during the third quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after purchasing an additional 1,743 shares during the last quarter. Institutional investors 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.