Insider Selling: Tactile Systems Technology (NASDAQ:TCMD) Director Sells $120,000.00 in Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director Laura King sold 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $25.00, for a total transaction of $120,000.00. Following the completion of the sale, the director directly owned 20,769 shares of the company’s stock, valued at $519,225. The trade was a 18.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tactile Systems Technology Stock Performance

NASDAQ:TCMD traded down $0.81 during midday trading on Thursday, reaching $26.37. 313,059 shares of the stock traded hands, compared to its average volume of 304,925. The stock has a market capitalization of $597.33 million, a PE ratio of 25.60 and a beta of 0.95. Tactile Systems Technology, Inc. has a 12-month low of $20.53 and a 12-month high of $37.77. The business has a 50-day moving average of $22.82 and a two-hundred day moving average of $25.86.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, November 2nd. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Tactile Systems Technology had a return on equity of 10.73% and a net margin of 6.68%. The business had revenue of $91.86 million for the quarter, compared to analyst estimates of $91.99 million. Research analysts anticipate that Tactile Systems Technology, Inc. will post 1.10 earnings per share for the current year.

Hedge Funds Weigh In On Tactile Systems Technology

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quantinno Capital Management LP lifted its position in Tactile Systems Technology by 1.3% during the first quarter. Quantinno Capital Management LP now owns 53,612 shares of the company’s stock worth $1,401,000 after buying an additional 684 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Tactile Systems Technology by 24.3% in the 2nd quarter. IFP Advisors Inc now owns 3,606 shares of the company’s stock worth $107,000 after acquiring an additional 704 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Tactile Systems Technology by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,071 shares of the company’s stock worth $425,000 after acquiring an additional 749 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Tactile Systems Technology by 0.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 327,967 shares of the company’s stock worth $7,310,000 after acquiring an additional 850 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Tactile Systems Technology by 36.4% during the 2nd quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock worth $98,000 after acquiring an additional 876 shares during the period. 83.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TCMD has been the subject of a number of analyst reports. Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st. Weiss Ratings cut Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Finally, BTIG Research cut their price objective on Tactile Systems Technology from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Tactile Systems Technology has a consensus rating of “Moderate Buy” and an average price target of $36.80.

About Tactile Systems Technology

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.