Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Sells $55,536.60 in Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine M. Birkemeyer sold 3,778 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 104,098 shares in the company, valued at approximately $1,530,240.60. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Tactile Systems Technology Price Performance

Tactile Systems Technology stock opened at $14.62 on Wednesday. Tactile Systems Technology, Inc. has a 12-month low of $11.12 and a 12-month high of $21.10. The stock has a market cap of $344.81 million, a P/E ratio of 20.89 and a beta of 1.20. The company has a 50-day moving average price of $17.14 and a 200 day moving average price of $15.73. 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 released its quarterly earnings data on Tuesday, February 18th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.09. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. The firm had revenue of $85.59 million during the quarter, compared to analysts’ expectations of $85.39 million. Sell-side analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Institutional Investors Weigh In On Tactile Systems Technology

Institutional investors have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI acquired a new stake in shares of Tactile Systems Technology during the third quarter valued at about $29,000. Jones Financial Companies Lllp acquired a new stake in shares of Tactile Systems Technology during the fourth quarter valued at about $39,000. Gladius Capital Management LP acquired a new stake in shares of Tactile Systems Technology during the third quarter valued at about $44,000. Virtus Fund Advisers LLC increased its position in shares of Tactile Systems Technology by 142.0% during the fourth quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company’s stock valued at $72,000 after acquiring an additional 2,464 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Tactile Systems Technology during the fourth quarter valued at about $81,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.