Elaine Birkemeyer Sells 5,518 Shares of Tactile Systems Technology (NASDAQ:TCMD) Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine Birkemeyer sold 5,518 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $28.30, for a total value of $156,159.40. Following the completion of the transaction, the chief financial officer directly owned 142,520 shares of the company’s stock, valued at $4,033,316. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Tactile Systems Technology Stock Down 0.0%

Tactile Systems Technology stock traded down $0.01 during mid-day trading on Tuesday, hitting $28.65. 554,280 shares of the company’s stock traded hands, compared to its average volume of 388,124. Tactile Systems Technology, Inc. has a one year low of $8.61 and a one year high of $37.77. The firm has a 50 day moving average price of $29.09 and a 200 day moving average price of $21.84. The company has a market cap of $642.88 million, a PE ratio of 34.52 and a beta of 0.96.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Tuesday, February 17th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $103.59 million during the quarter, compared to analysts’ expectations of $93.80 million. On average, analysts expect that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on TCMD shares. Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Piper Sandler lifted their price target on Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Zacks Research lowered Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. B. Riley Financial raised their target price on Tactile Systems Technology from $16.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Finally, 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 research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned 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 institutional investors and hedge funds have recently modified their holdings of TCMD. Russell Investments Group Ltd. lifted its stake in Tactile Systems Technology by 1,594.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after acquiring an additional 1,993 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tactile Systems Technology in the 4th quarter valued at about $32,000. Quarry LP increased its holdings in shares of Tactile Systems Technology by 302.6% in the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after purchasing an additional 1,743 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Tactile Systems Technology in the fourth quarter worth approximately $36,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Tactile Systems Technology during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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.