Insider Selling: Tactile Systems Technology (NASDAQ:TCMD) Director Sells $135,000.00 in Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director William Burke sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $27.00, for a total value of $135,000.00. Following the completion of the sale, the director directly owned 50,041 shares in the company, valued at approximately $1,351,107. The trade was a 9.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tactile Systems Technology Stock Up 1.9%

NASDAQ:TCMD opened at $27.13 on Thursday. The stock’s fifty day moving average is $23.17 and its two-hundred day moving average is $25.78. Tactile Systems Technology, Inc. has a 52 week low of $20.53 and a 52 week high of $37.77. The stock has a market capitalization of $606.08 million, a price-to-earnings ratio of 25.84 and a beta of 0.95.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, November 2nd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. Tactile Systems Technology had a return on equity of 10.73% and a net margin of 6.68%. The business had revenue of $91.86 million during the quarter, compared to analyst estimates of $91.99 million. On average, sell-side analysts expect that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Tactile Systems Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. USA Financial Formulas purchased a new stake in shares of Tactile Systems Technology during the first quarter worth $71,000. Versant Capital Management Inc boosted its holdings in Tactile Systems Technology by 36.4% in the second quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock valued at $98,000 after purchasing an additional 876 shares during the period. Quantbot Technologies LP acquired a new position in Tactile Systems Technology during the 2nd quarter worth $101,000. IFP Advisors Inc grew its stake in Tactile Systems Technology by 24.3% during the 2nd quarter. IFP Advisors Inc now owns 3,606 shares of the company’s stock worth $107,000 after purchasing an additional 704 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Tactile Systems Technology by 18.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,113 shares of the company’s stock worth $158,000 after purchasing an additional 1,132 shares in the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Wall Street Analysts Forecast Growth

TCMD has been the subject of a number of research analyst reports. BTIG Research lowered their target price on Tactile Systems Technology from $35.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, November 3rd. Wall Street Zen lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, Weiss Ratings lowered shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, November 3rd. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.80.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc. develops and markets medical devices for home-based treatment of chronic conditions. Its products include pneumatic compression systems and garments designed to help manage lymphedema, chronic venous insufficiency and related swelling, as well as airway clearance devices for people with respiratory conditions. The company’s portfolio includes the Flexitouch and Entre systems for compression therapy and the AffloVest, a wearable device that helps loosen and clear airway secretions.