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 the firm’s 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 $125,623.70. Following the completion of the sale, the vice president directly owned 88,827 shares in the company, valued at approximately $2,513,804.10. This trade represents a 4.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 stock was sold at an average price of $28.85, for a total value of $148,260.15.

Tactile Systems Technology Stock Down 0.0%

NASDAQ TCMD traded down $0.01 during trading hours on Tuesday, hitting $28.65. The company had a trading volume of 554,280 shares, compared to its average volume of 388,124. The firm has a market cap of $642.88 million, a P/E ratio of 34.52 and a beta of 0.96. Tactile Systems Technology, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $37.77. The business has a fifty day simple moving average of $29.09 and a 200-day simple moving average of $21.84.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Tuesday, February 17th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.26%. The business had revenue of $103.59 million during the quarter, compared to analyst estimates of $93.80 million. Equities analysts forecast that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Tactile Systems Technology

A number of institutional investors have recently added to or reduced their stakes in TCMD. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tactile Systems Technology in the 4th quarter valued at $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Tactile Systems Technology during the fourth quarter valued at about $36,000. Global Retirement Partners LLC acquired a new position in shares of Tactile Systems Technology in the fourth quarter worth about $37,000. Russell Investments Group Ltd. boosted its holdings in shares of Tactile Systems Technology by 1,594.4% in the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after buying an additional 1,993 shares during the period. Finally, Quarry LP increased its position in shares of Tactile Systems Technology by 302.6% in the third quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after acquiring an additional 1,743 shares in the last quarter. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TCMD has been the topic of a number of recent analyst reports. Zacks Research cut Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Tactile Systems Technology in a research report on Monday, December 29th. Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. 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 research note on Wednesday, February 18th. Finally, Raymond James Financial set a $35.00 price target on Tactile Systems Technology in a report on Monday, January 5th. One 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 company. Based on data from MarketBeat.com, Tactile Systems Technology currently has an average rating of “Moderate Buy” and a consensus price target of $37.40.

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.