Insider Selling: Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Sells 3,778 Shares of Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine M. Birkemeyer sold 3,778 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $14.70, for a total transaction of $55,536.60. Following the completion of the sale, the chief financial officer now directly owns 104,098 shares in the company, valued at $1,530,240.60. This trade represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Tactile Systems Technology Price Performance

Shares of Tactile Systems Technology stock traded down $0.15 on Monday, hitting $14.90. The company’s stock had a trading volume of 483,839 shares, compared to its average volume of 299,195. The company has a market capitalization of $351.42 million, a price-to-earnings ratio of 21.29 and a beta of 1.20. Tactile Systems Technology, Inc. has a 1 year low of $11.12 and a 1 year high of $21.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.80 and a current ratio of 4.36. The firm has a fifty day moving average price of $17.26 and a 200-day moving average price of $15.71.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.31 by $0.09. The company had revenue of $85.59 million during the quarter, compared to analyst estimates of $85.39 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. As a group, sell-side analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC acquired a new stake in Tactile Systems Technology in the 4th quarter worth about $2,793,000. Norges Bank acquired a new stake in shares of Tactile Systems Technology in the 4th quarter worth $2,534,000. Renaissance Technologies LLC raised its stake in Tactile Systems Technology by 44.0% during the fourth quarter. Renaissance Technologies LLC now owns 451,100 shares of the company’s stock worth $7,727,000 after purchasing an additional 137,900 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Tactile Systems Technology during the 4th quarter valued at approximately $1,328,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Tactile Systems Technology by 8.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company’s stock valued at $15,444,000 after purchasing an additional 67,934 shares during the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. BTIG Research lowered shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Tuesday, November 5th. StockNews.com downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. B. Riley cut Tactile Systems Technology from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $18.00 in a research report on Wednesday, February 19th. Finally, Oppenheimer cut shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.