Short Interest in Tactile Systems Technology, Inc. (NASDAQ:TCMD) Decreases By 19.7%

Tactile Systems Technology, Inc. (NASDAQ:TCMD) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 1,180,000 shares, a decline of 19.7% from the March 15th total of 1,470,000 shares. Based on an average daily volume of 300,700 shares, the days-to-cover ratio is currently 3.9 days.

Insider Activity at Tactile Systems Technology

In related news, VP Kristie Burns sold 2,015 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $15.90, for a total value of $32,038.50. Following the completion of the transaction, the vice president now owns 63,512 shares in the company, valued at approximately $1,009,840.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Kristie Burns sold 2,015 shares of Tactile Systems Technology stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.90, for a total transaction of $32,038.50. Following the transaction, the vice president now directly owns 63,512 shares in the company, valued at approximately $1,009,840.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel L. Reuvers sold 6,239 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.81, for a total value of $98,638.59. Following the completion of the sale, the chief executive officer now directly owns 244,112 shares in the company, valued at approximately $3,859,410.72. The disclosure for this sale can be found here. Insiders have sold a total of 17,520 shares of company stock worth $268,820 over the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tactile Systems Technology

Institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Tactile Systems Technology by 219.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,016 shares of the company’s stock worth $40,000 after buying an additional 1,385 shares during the period. New York State Teachers Retirement System acquired a new position in Tactile Systems Technology in the 3rd quarter worth approximately $29,000. International Assets Investment Management LLC grew its holdings in shares of Tactile Systems Technology by 1,330.0% during the fourth quarter. International Assets Investment Management LLC now owns 2,860 shares of the company’s stock valued at $41,000 after buying an additional 2,660 shares in the last quarter. Covestor Ltd increased its holdings in shares of Tactile Systems Technology by 69.4% in the 3rd quarter. Covestor Ltd now owns 2,872 shares of the company’s stock valued at $40,000 after purchasing an additional 1,177 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in Tactile Systems Technology in the 2nd quarter worth approximately $86,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Stock Down 1.8 %

NASDAQ TCMD opened at $14.78 on Monday. Tactile Systems Technology has a 12 month low of $9.69 and a 12 month high of $26.11. The company has a market capitalization of $351.17 million, a P/E ratio of 12.32 and a beta of 1.19. The company’s 50 day simple moving average is $15.50 and its 200 day simple moving average is $13.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.54 and a quick ratio of 2.99.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.25. The company had revenue of $77.65 million for the quarter, compared to analysts’ expectations of $78.85 million. Tactile Systems Technology had a return on equity of 17.08% and a net margin of 10.39%. During the same quarter in the prior year, the company earned $0.29 earnings per share. Equities research analysts expect that Tactile Systems Technology will post 0.56 earnings per share for the current fiscal year.

About Tactile Systems Technology

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.