Tactile Systems Technology (NASDAQ:TCMD) CEO Sheri Louise Dodd Sells 10,993 Shares

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CEO Sheri Louise Dodd sold 10,993 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total transaction of $318,137.42. Following the transaction, the chief executive officer directly owned 243,885 shares in the company, valued at approximately $7,058,031.90. This trade represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Sheri Louise Dodd also recently made the following trade(s):

• On Monday, February 23rd, Sheri Louise Dodd sold 15,240 shares of Tactile Systems Technology stock. The shares were sold at an average price of $28.30, for a total transaction of $431,292.00.

Tactile Systems Technology Trading Up 1.0%

Shares of NASDAQ TCMD traded up $0.30 during trading hours on Thursday, reaching $29.91. The stock had a trading volume of 332,975 shares, compared to its average volume of 391,581. 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 $671.18 million, a price-to-earnings ratio of 36.04 and a beta of 0.96. The business’s fifty day moving average price is $29.09 and its two-hundred day moving average price is $21.89.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Tuesday, February 17th. The company reported $0.46 earnings per share for the quarter, beating 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 business had revenue of $103.59 million during the quarter, compared to analyst estimates of $93.80 million. Equities research analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TCMD shares. Wall Street Zen upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. BTIG Research upped their price target on shares of Tactile Systems Technology from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Raymond James Financial set a $35.00 price objective on shares of Tactile Systems Technology in a research note on Monday, January 5th. 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 upped their target price 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 analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in Tactile Systems Technology during the fourth quarter valued at approximately $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Tactile Systems Technology in the fourth quarter worth $36,000. Global Retirement Partners LLC acquired a new position in shares of Tactile Systems Technology during the fourth quarter worth $37,000. Russell Investments Group Ltd. increased its position in shares of Tactile Systems Technology by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after purchasing an additional 1,993 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Tactile Systems Technology by 302.6% during the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after purchasing an additional 1,743 shares during the last quarter. Hedge funds and other 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.