Kristie Burns Sells 4,439 Shares of Tactile Systems Technology (NASDAQ:TCMD) Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) VP Kristie Burns sold 4,439 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $28.30, for a total transaction of $125,623.70. Following the sale, the vice president owned 88,827 shares in the company, valued at approximately $2,513,804.10. This represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kristie Burns also recently made the following trade(s):

• On Friday, January 2nd, Kristie Burns sold 5,139 shares of Tactile Systems Technology stock. The shares were sold at an average price of $28.85, for a total transaction of $148,260.15.

Tactile Systems Technology Stock Performance

Shares of NASDAQ:TCMD opened at $29.61 on Thursday. Tactile Systems Technology, Inc. has a 52 week low of $8.61 and a 52 week high of $37.77. The firm has a market cap of $664.45 million, a PE ratio of 35.67 and a beta of 0.96. The firm’s fifty day moving average is $29.09 and its 200-day moving average is $21.89.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $93.80 million. Sell-side analysts forecast that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TCMD. Zacks Research downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Piper Sandler upped their target price 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. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Monday, December 29th. Finally, B. Riley Financial increased their price target on Tactile Systems Technology from $16.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.40.

Institutional Trading of Tactile Systems Technology

Hedge funds have recently bought and sold shares of the business. Prudential Financial Inc. raised its holdings in Tactile Systems Technology by 3.5% during the second quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock worth $247,000 after buying an additional 835 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tactile Systems Technology during the fourth quarter worth about $32,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Tactile Systems Technology by 5.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,957 shares of the company’s stock worth $695,000 after acquiring an additional 1,215 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Tactile Systems Technology in the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC acquired a new position in Tactile Systems Technology during the 4th quarter valued at about $37,000. Institutional investors and hedge funds 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.