Insider Selling: Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Sells 2,921 Shares of Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine M. Birkemeyer sold 2,921 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $9.94, for a total transaction of $29,034.74. Following the transaction, the chief financial officer now owns 99,111 shares in the company, valued at approximately $985,163.34. This trade represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Tactile Systems Technology Price Performance

TCMD opened at $9.65 on Friday. Tactile Systems Technology, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $21.10. The firm has a 50-day moving average of $12.95 and a 200 day moving average of $15.44. 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 market cap of $224.34 million, a P/E ratio of 13.79 and a beta of 1.05.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, May 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. The company had revenue of $61.27 million during the quarter, compared to analysts’ expectations of $63.48 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. On average, research analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on TCMD shares. Piper Sandler cut shares of Tactile Systems Technology from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $14.00 in a research report on Tuesday, May 6th. B. Riley raised Tactile Systems Technology to a “hold” rating in a research report on Wednesday, May 7th. Finally, StockNews.com lowered Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, Tactile Systems Technology currently has a consensus rating of “Hold” and an average price target of $16.00.

Hedge Funds Weigh In On Tactile Systems Technology

Several institutional investors have recently bought and sold shares of TCMD. Millennium Management LLC purchased a new stake in Tactile Systems Technology in the fourth quarter worth $2,793,000. Norges Bank bought a new position in shares of Tactile Systems Technology during the 4th quarter worth $2,534,000. Renaissance Technologies LLC increased its holdings in Tactile Systems Technology by 44.0% in the 4th quarter. Renaissance Technologies LLC now owns 451,100 shares of the company’s stock worth $7,727,000 after acquiring an additional 137,900 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Tactile Systems Technology in the 1st quarter valued at about $1,160,000. Finally, Janney Montgomery Scott LLC bought a new stake in Tactile Systems Technology in the 4th quarter valued at about $1,328,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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.