Tactile Systems Technology (NASDAQ:TCMD) CFO Elaine Birkemeyer Sells 7,701 Shares of Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine Birkemeyer sold 7,701 shares of Tactile Systems Technology stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total value of $222,866.94. Following the sale, the chief financial officer owned 134,819 shares in the company, valued at $3,901,661.86. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Tactile Systems Technology Stock Down 1.5%

Shares of TCMD opened at $29.45 on Friday. 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 $660.83 million, a price-to-earnings ratio of 35.48 and a beta of 0.96. The business’s 50 day moving average is $29.10 and its two-hundred day moving average is $21.95.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data 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 firm had revenue of $103.59 million during the quarter, compared to the consensus estimate of $93.80 million. On average, equities analysts expect that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tactile Systems Technology

Institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. bought a new stake in shares of Tactile Systems Technology during the 4th quarter worth about $1,610,000. Invesco Ltd. raised its stake in shares of Tactile Systems Technology by 180.8% in the 4th quarter. Invesco Ltd. now owns 160,333 shares of the company’s stock valued at $4,650,000 after acquiring an additional 103,237 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in Tactile Systems Technology in the 4th quarter worth approximately $278,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Tactile Systems Technology in the 4th quarter worth approximately $551,000. Finally, Empowered Funds LLC boosted its position in Tactile Systems Technology by 117.3% during the fourth quarter. Empowered Funds LLC now owns 104,258 shares of the company’s stock worth $3,023,000 after purchasing an additional 56,280 shares during the period. 83.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TCMD shares. Wall Street Zen upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Lake Street Capital set a $40.00 price target on shares of Tactile Systems Technology and gave the company a “buy” rating in a report on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Monday, December 29th. B. Riley Financial lifted their price objective on Tactile Systems Technology from $16.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Finally, Raymond James Financial set a $35.00 target price on Tactile Systems Technology in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.40.

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.