Short Interest in Tactile Systems Technology, Inc. (NASDAQ:TCMD) Decreases By 16.5%

Tactile Systems Technology, Inc. (NASDAQ:TCMD) was the recipient of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 2,070,000 shares, a decrease of 16.5% from the February 13th total of 2,480,000 shares. Currently, 8.9% of the company’s stock are short sold. Based on an average daily trading volume, of 274,800 shares, the short-interest ratio is currently 7.5 days.

Insider Buying and Selling

In other Tactile Systems Technology news, Director Daniel L. Reuvers sold 10,938 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $14.55, for a total value of $159,147.90. Following the sale, the director now directly owns 242,942 shares of the company’s stock, 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 SEC, which is available at this link. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were 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 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 disclosure for this sale can be found here. Insiders have sold a total of 19,546 shares of company stock valued at $285,444 in the last ninety days. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Tactile Systems Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in TCMD. Vanguard Group Inc. increased its holdings in shares of Tactile Systems Technology by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 1,483,692 shares of the company’s stock valued at $25,416,000 after purchasing an additional 4,509 shares during the period. Dimensional Fund Advisors LP increased 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 valued at $15,444,000 after buying an additional 67,934 shares during the period. Wasatch Advisors LP raised its position in Tactile Systems Technology by 9.8% during the 3rd quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock worth $10,624,000 after buying an additional 64,684 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Tactile Systems Technology by 2.5% in the 3rd quarter. Royce & Associates LP now owns 612,979 shares of the company’s stock worth $8,956,000 after acquiring an additional 14,780 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Tactile Systems Technology by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock worth $8,164,000 after acquiring an additional 8,422 shares during the period. 83.43% of the stock is owned by hedge funds and other institutional investors.

Tactile Systems Technology Trading Up 1.0 %

NASDAQ TCMD opened at $13.79 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.36 and a quick ratio of 3.80. The firm’s fifty day moving average price is $16.05 and its 200 day moving average price is $15.81. The company has a market capitalization of $325.24 million, a price-to-earnings ratio of 19.70 and a beta of 1.24. Tactile Systems Technology has a 12 month low of $11.12 and a 12 month high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last issued 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 company had revenue of $85.59 million for the quarter, compared to the consensus estimate of $85.39 million. On average, sell-side analysts expect that Tactile Systems Technology will post 0.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. B. Riley downgraded shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $18.00 in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th.

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.