Tactile Systems Technology (NASDAQ:TCMD) Director Sells $120,000.00 in Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director Laura King sold 4,800 shares of Tactile Systems Technology stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $25.00, for a total value of $120,000.00. Following the transaction, the director owned 20,769 shares of the company’s stock, valued at $519,225. This represents a 18.77% decrease in their ownership of the stock. 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 Stock Performance

TCMD stock opened at $26.03 on Friday. Tactile Systems Technology, Inc. has a 1 year low of $20.53 and a 1 year high of $37.77. The stock’s 50 day moving average price is $22.93 and its 200 day moving average price is $25.82. The firm has a market cap of $581.41 million, a P/E ratio of 25.27 and a beta of 0.95.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, November 2nd. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. The company had revenue of $91.86 million during the quarter, compared to the consensus estimate of $91.99 million. Tactile Systems Technology had a return on equity of 10.73% and a net margin of 6.68%. On average, research analysts predict that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings lowered Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. BTIG Research dropped their price objective on Tactile Systems Technology from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, November 3rd. Finally, Wall Street Zen downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Institutional Investors Weigh In On Tactile Systems Technology

Hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in Tactile Systems Technology by 4.1% in the 3rd 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 period. State of Wyoming increased its stake in shares of Tactile Systems Technology by 68.1% during the 3rd quarter. State of Wyoming now owns 18,941 shares of the company’s stock valued at $422,000 after acquiring an additional 7,670 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of Tactile Systems Technology during the 3rd quarter valued at about $2,456,000. Pinnacle Associates Ltd. lifted its holdings in shares of Tactile Systems Technology by 0.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 327,967 shares of the company’s stock worth $7,310,000 after acquiring an additional 850 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Tactile Systems Technology by 18.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,113 shares of the company’s stock worth $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.

Tactile Systems Technology Company Profile

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.