Elaine Birkemeyer Sells 4,631 Shares of Tactile Systems Technology (NASDAQ:TCMD) Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine Birkemeyer sold 4,631 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $24.49, for a total transaction of $113,413.19. Following the sale, the chief financial officer directly owned 130,188 shares of the company’s stock, valued at $3,188,304.12. The trade was a 3.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tactile Systems Technology Trading Down 1.1%

Shares of NASDAQ TCMD opened at $23.04 on Friday. Tactile Systems Technology, Inc. has a 12 month low of $9.34 and a 12 month high of $37.77. The firm has a market capitalization of $519.78 million, a PE ratio of 26.18 and a beta of 0.82. The firm has a fifty day simple moving average of $25.64 and a two-hundred day simple moving average of $26.58.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Tactile Systems Technology had a return on equity of 9.70% and a net margin of 5.91%.The company had revenue of $75.27 million during the quarter, compared to the consensus estimate of $70.57 million. On average, sell-side analysts predict that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on TCMD. B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $32.00 to $36.00 in a report on Thursday, May 7th. Lake Street Capital set a $40.00 price objective on shares of Tactile Systems Technology and gave the stock a “buy” rating in a report on Wednesday, February 18th. BTIG Research upped their price objective on shares of Tactile Systems Technology from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Piper Sandler upped their price objective on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings lowered shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Tactile Systems Technology has an average rating of “Moderate Buy” and an average target price of $38.60.

Hedge Funds Weigh In On Tactile Systems Technology

Several large investors have recently made changes to their positions in the business. Prudential Financial Inc. grew its stake in shares of Tactile Systems Technology by 3.5% in the 2nd quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock worth $247,000 after buying an additional 835 shares during the last quarter. Strs Ohio grew its stake in shares of Tactile Systems Technology by 4.1% in the 1st quarter. Strs Ohio now owns 22,700 shares of the company’s stock worth $593,000 after buying an additional 900 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Tactile Systems Technology in the 4th quarter worth approximately $32,000. Price T Rowe Associates Inc. MD grew its stake in shares of Tactile Systems Technology by 5.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,957 shares of the company’s stock worth $695,000 after buying an additional 1,215 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Tactile Systems Technology in the 4th quarter worth approximately $36,000. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

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.