Kristie Burns Sells 5,139 Shares of Tactile Systems Technology (NASDAQ:TCMD) Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) VP Kristie Burns sold 5,139 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $28.85, for a total value of $148,260.15. Following the completion of the transaction, the vice president directly owned 72,401 shares of the company’s stock, valued at approximately $2,088,768.85. This represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Tactile Systems Technology Trading Down 0.2%

Shares of Tactile Systems Technology stock opened at $30.43 on Thursday. The business’s fifty day simple moving average is $26.31 and its 200 day simple moving average is $17.35. Tactile Systems Technology, Inc. has a 12 month low of $8.61 and a 12 month high of $31.13. The firm has a market capitalization of $679.81 million, a P/E ratio of 39.52 and a beta of 0.91.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, November 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.20. The firm had revenue of $85.76 million during the quarter, compared to analyst estimates of $79.31 million. Tactile Systems Technology had a return on equity of 8.84% and a net margin of 5.83%. Analysts predict that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Tactile Systems Technology

A number of large investors have recently made changes to their positions in the stock. CWA Asset Management Group LLC purchased a new position in shares of Tactile Systems Technology in the fourth quarter valued at $1,587,000. Cambria Investment Management L.P. purchased a new position in Tactile Systems Technology during the 3rd quarter valued at about $150,000. PharVision Advisers LLC bought a new stake in shares of Tactile Systems Technology during the third quarter valued at about $177,000. Quarry LP increased its position 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 buying an additional 1,743 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Tactile Systems Technology in the third quarter worth about $144,000. 83.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TCMD has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Monday, December 29th. Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Piper Sandler set a $35.00 target price on Tactile Systems Technology in a research note on Monday. Raymond James Financial set a $35.00 price target on Tactile Systems Technology in a research note on Monday. Finally, Zacks Research lowered Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $28.75.

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.