Tactile Systems Technology (NASDAQ:TCMD) CEO Sheri Louise Dodd Sells 15,240 Shares of Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CEO Sheri Louise Dodd sold 15,240 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $28.30, for a total value of $431,292.00. Following the completion of the transaction, the chief executive officer owned 254,878 shares of the company’s stock, valued at approximately $7,213,047.40. The trade was a 5.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Tactile Systems Technology Stock Down 0.0%

Shares of NASDAQ TCMD opened at $28.65 on Wednesday. Tactile Systems Technology, Inc. has a 52 week low of $8.61 and a 52 week high of $37.77. The business’s 50 day moving average price is $29.09 and its 200 day moving average price is $21.84. The firm has a market cap of $642.91 million, a P/E ratio of 34.52 and a beta of 0.96.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $103.59 million during the quarter, compared to analysts’ expectations of $93.80 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.26%. As a group, research analysts expect 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 added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Tactile Systems Technology by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company’s stock worth $47,884,000 after acquiring an additional 76,198 shares during the period. Paradigm Capital Management Inc. NY increased its stake in shares of Tactile Systems Technology by 5.9% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock worth $16,413,000 after purchasing an additional 89,600 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Tactile Systems Technology by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,191,207 shares of the company’s stock worth $16,486,000 after purchasing an additional 24,001 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Tactile Systems Technology by 248.3% in the 2nd quarter. Acadian Asset Management LLC now owns 683,662 shares of the company’s stock valued at $6,930,000 after buying an additional 487,392 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in Tactile Systems Technology by 19.4% in the 4th quarter. Federated Hermes Inc. now owns 645,408 shares of the company’s stock valued at $18,717,000 after buying an additional 104,648 shares in the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TCMD. B. Riley Financial boosted their price objective on Tactile Systems Technology from $16.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Zacks Research cut shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Raymond James Financial set a $35.00 target price on shares of Tactile Systems Technology in a research note on Monday, January 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Tactile Systems Technology currently has an average rating of “Moderate Buy” and a consensus price target of $37.40.

About Tactile Systems Technology

Tactile Systems Technology, Inc, headquartered in Plymouth, Minnesota, is a medical device company specializing in the design, manufacture and marketing of home-use pneumatic compression therapy systems for the treatment of lymphedema and other chronic edema-related conditions. Using proprietary software and patented pump technologies, the company’s platforms are designed to improve patient outcomes through sequential pressure treatment that promotes fluid mobilization and enhanced lymphatic function.

At the core of Tactile Systems’ product portfolio is the Flexitouch® system, a programmable pneumatic pump and garment system approved for home use, and the Aria® device, which features an intuitive touchscreen interface and advanced garment design.