Sheri Louise Dodd Sells 10,993 Shares of Tactile Systems Technology (NASDAQ:TCMD) Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CEO Sheri Louise Dodd sold 10,993 shares of Tactile Systems Technology stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total transaction of $318,137.42. Following the transaction, the chief executive officer owned 243,885 shares of the company’s stock, valued at $7,058,031.90. This represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sheri Louise Dodd also recently made the following trade(s):

• On Monday, February 23rd, Sheri Louise Dodd sold 15,240 shares of Tactile Systems Technology stock. The stock was sold at an average price of $28.30, for a total transaction of $431,292.00.

Tactile Systems Technology Stock Performance

Shares of NASDAQ TCMD opened at $29.29 on Friday. The stock has a market cap of $657.27 million, a price-to-earnings ratio of 35.29 and a beta of 0.96. Tactile Systems Technology, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $37.77. The firm’s 50-day simple moving average is $29.11 and its 200 day simple moving average is $22.07.

Tactile Systems Technology (NASDAQ:TCMD) last issued 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. Tactile Systems Technology had a return on equity of 9.26% and a net margin of 5.79%.The firm had revenue of $103.59 million during the quarter, compared to analyst estimates of $93.80 million. On average, sell-side analysts predict that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Lake Street Capital set a $40.00 price objective on shares of Tactile Systems Technology and gave the stock a “buy” rating in a report on Wednesday, February 18th. BTIG Research boosted their price target on shares of Tactile Systems Technology from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Zacks Research downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. B. Riley Financial lifted their target price on shares of Tactile Systems Technology from $16.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its stake in shares of Tactile Systems Technology by 248.3% during the 2nd quarter. Acadian Asset Management LLC now owns 683,662 shares of the company’s stock worth $6,930,000 after purchasing an additional 487,392 shares during the last quarter. Next Century Growth Investors LLC purchased a new stake in Tactile Systems Technology in the fourth quarter worth $11,309,000. Marshall Wace LLP purchased a new stake in Tactile Systems Technology in the fourth quarter worth $7,700,000. Janus Henderson Group PLC bought a new stake in shares of Tactile Systems Technology in the fourth quarter valued at $5,503,000. Finally, LSV Asset Management lifted its position in shares of Tactile Systems Technology by 119.8% during the 4th quarter. LSV Asset Management now owns 323,004 shares of the company’s stock valued at $9,367,000 after buying an additional 176,059 shares during the last quarter. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

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.