Insider Selling: Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director Sells 3,300 Shares of Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director William W. Burke sold 3,300 shares of Tactile Systems Technology stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $9.67, for a total transaction of $31,911.00. Following the transaction, the director now directly owns 48,520 shares of the company’s stock, valued at approximately $469,188.40. This represents a 6.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Tactile Systems Technology Price Performance

Tactile Systems Technology stock opened at $9.52 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.36 and a quick ratio of 3.80. The stock has a market cap of $225.30 million, a price-to-earnings ratio of 13.60 and a beta of 1.05. The firm has a 50-day moving average of $13.30 and a two-hundred day moving average of $15.59. Tactile Systems Technology, Inc. has a 1 year low of $8.61 and a 1 year high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The firm had revenue of $61.27 million during the quarter, compared to analysts’ expectations of $63.48 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. During the same quarter in the previous year, the firm posted ($0.05) EPS. On average, research analysts forecast that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

TCMD has been the topic of a number of recent analyst reports. Piper Sandler lowered shares of Tactile Systems Technology from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $14.00 in a research report on Tuesday, May 6th. B. Riley upgraded Tactile Systems Technology to a “hold” rating in a report on Wednesday, May 7th. Finally, StockNews.com cut Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.00.

Hedge Funds Weigh In On Tactile Systems Technology

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Tactile Systems Technology by 9.9% in the 4th quarter. Principal Financial Group Inc. now owns 20,401 shares of the company’s stock valued at $349,000 after purchasing an additional 1,836 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Tactile Systems Technology during the fourth quarter valued at approximately $1,328,000. Arrowstreet Capital Limited Partnership raised its stake in Tactile Systems Technology by 163.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 52,227 shares of the company’s stock worth $895,000 after buying an additional 32,378 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tactile Systems Technology by 8.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company’s stock worth $15,444,000 after buying an additional 67,934 shares during the period. Finally, Barclays PLC boosted its position in Tactile Systems Technology by 56.7% during the 3rd quarter. Barclays PLC now owns 66,885 shares of the company’s stock valued at $977,000 after acquiring an additional 24,188 shares in the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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.