Kristie Burns Sells 5,139 Shares of Tactile Systems Technology (NASDAQ:TCMD) Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) VP Kristie Burns sold 5,139 shares of Tactile Systems Technology stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $28.85, for a total value of $148,260.15. Following the sale, the vice president directly owned 72,401 shares of the company’s stock, valued at $2,088,768.85. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Tactile Systems Technology Price Performance

NASDAQ TCMD traded up $0.37 during trading hours on Tuesday, reaching $30.50. The company’s stock had a trading volume of 242,079 shares, compared to its average volume of 481,715. The firm has a market capitalization of $681.25 million, a price-to-earnings ratio of 39.61 and a beta of 0.91. The company’s 50-day moving average is $25.70 and its two-hundred day moving average is $17.11. Tactile Systems Technology, Inc. has a 1-year low of $8.61 and a 1-year high of $30.97.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.16 by $0.20. Tactile Systems Technology had a net margin of 5.83% and a return on equity of 8.84%. The firm had revenue of $85.76 million for the quarter, compared to analyst estimates of $79.31 million. Equities analysts forecast that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TCMD shares. Piper Sandler set a $35.00 price objective on shares of Tactile Systems Technology in a research report on Monday. Zacks Research upgraded shares of Tactile Systems Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Wall Street Zen raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Raymond James Financial set a $35.00 price target on shares of Tactile Systems Technology in a research report on Monday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $28.75.

Institutional Trading of Tactile Systems Technology

A number of institutional investors have recently bought and sold shares of TCMD. Paradigm Capital Management Inc. NY boosted its stake in Tactile Systems Technology by 5.9% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock valued at $16,413,000 after buying an additional 89,600 shares in the last quarter. Vanguard Group Inc. boosted its stake in Tactile Systems Technology by 2.9% during the third quarter. Vanguard Group Inc. now owns 1,574,972 shares of the company’s stock worth $21,798,000 after acquiring an additional 44,218 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Tactile Systems Technology by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,191,207 shares of the company’s stock worth $16,486,000 after purchasing an additional 24,001 shares during the period. Acadian Asset Management LLC increased its holdings in Tactile Systems Technology by 248.3% during the 2nd quarter. Acadian Asset Management LLC now owns 683,662 shares of the company’s stock worth $6,930,000 after purchasing an additional 487,392 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Tactile Systems Technology by 42.7% in the second quarter. Federated Hermes Inc. now owns 551,561 shares of the company’s stock valued at $5,593,000 after purchasing an additional 165,163 shares during the last quarter. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Company Profile

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.