Insider Selling: Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director Sells 10,938 Shares of Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director Daniel L. Reuvers sold 10,938 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.55, for a total value of $159,147.90. Following the transaction, the director now directly owns 242,942 shares in the company, valued at approximately $3,534,806.10. This represents a 4.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Tactile Systems Technology Trading Down 0.7 %

Shares of TCMD opened at $14.52 on Thursday. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $342.45 million, a P/E ratio of 20.74 and a beta of 1.20. The stock’s fifty day simple moving average is $17.09 and its 200 day simple moving average is $15.72. Tactile Systems Technology, Inc. has a twelve month low of $11.12 and a twelve month high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09. The business had revenue of $85.59 million for the quarter, compared to analyst estimates of $85.39 million. Tactile Systems Technology had a return on equity of 9.37% and a net margin of 5.79%. On average, equities research analysts forecast that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Institutional Trading of Tactile Systems Technology

Large investors have recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in Tactile Systems Technology by 28.1% in the 3rd quarter. FMR LLC now owns 79,348 shares of the company’s stock valued at $1,159,000 after purchasing an additional 17,393 shares in the last quarter. Wasatch Advisors LP increased its holdings in Tactile Systems Technology by 9.8% in the 3rd quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock valued at $10,624,000 after purchasing an additional 64,684 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Tactile Systems Technology in the 4th quarter valued at $1,328,000. Geode Capital Management LLC increased its holdings in Tactile Systems Technology by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock valued at $8,164,000 after purchasing an additional 8,422 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Tactile Systems Technology by 16.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 45,374 shares of the company’s stock valued at $663,000 after purchasing an additional 6,401 shares in the last quarter. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.