Elaine M. Birkemeyer Sells 3,778 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine M. Birkemeyer sold 3,778 shares of the business’s stock in a transaction on Monday, February 24th. The stock was 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 owns 104,098 shares in the company, valued at approximately $1,530,240.60. The trade was a 3.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Tactile Systems Technology Stock Performance

Shares of NASDAQ:TCMD opened at $14.90 on Tuesday. 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 12 month low of $11.12 and a 12 month high of $21.10. The firm’s 50-day moving average is $17.26 and its 200 day moving average is $15.71. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.31 by $0.09. The company had revenue of $85.59 million for the quarter, compared to the consensus estimate of $85.39 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. Research analysts predict that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Tactile Systems Technology

Several hedge funds have recently added to or reduced their stakes in TCMD. Millennium Management LLC bought a new position in Tactile Systems Technology during the 4th quarter valued at about $2,793,000. Norges Bank bought a new position in Tactile Systems Technology in the 4th quarter worth about $2,534,000. Renaissance Technologies LLC grew its stake 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 in the last quarter. Janney Montgomery Scott LLC bought a new position in Tactile Systems Technology in the 4th quarter worth about $1,328,000. Finally, Dimensional Fund Advisors LP grew its stake in Tactile Systems Technology by 8.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company’s stock worth $15,444,000 after acquiring an additional 67,934 shares in the last quarter. 83.43% of the stock is currently owned by institutional investors.

About Tactile Systems Technology

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.