Tactile Systems Technology (NASDAQ:TCMD) Stock Price Passes Below 50-Day Moving Average – Time to Sell?

Tactile Systems Technology, Inc. (NASDAQ:TCMD) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $29.10 and traded as low as $29.06. Tactile Systems Technology shares last traded at $29.41, with a volume of 225,873 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TCMD. Raymond James Financial set a $35.00 price objective on shares of Tactile Systems Technology in a research report on Monday, January 5th. Zacks Research lowered Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. 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 research report on Wednesday, February 18th. BTIG Research upped their price objective on Tactile Systems Technology from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.40.

Tactile Systems Technology Stock Performance

The firm’s fifty day simple moving average is $29.10 and its 200 day simple moving average is $22.54. The firm has a market cap of $659.96 million, a P/E ratio of 35.43 and a beta of 0.97.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Tuesday, February 17th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. Tactile Systems Technology had a return on equity of 9.26% and a net margin of 5.79%.The firm had revenue of $103.59 million for the quarter, compared to analysts’ expectations of $93.80 million. On average, equities research analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Insider Transactions at Tactile Systems Technology

In related news, CEO Sheri Louise Dodd sold 10,993 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total value of $318,137.42. Following the sale, the chief executive officer owned 243,885 shares in the company, valued at approximately $7,058,031.90. The trade was a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Kristie Burns sold 6,246 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total transaction of $180,759.24. Following the sale, the vice president directly owned 82,581 shares in the company, valued at approximately $2,389,894.14. The trade was a 7.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 55,276 shares of company stock valued at $1,583,099 in the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Tactile Systems Technology

A number of large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Tactile Systems Technology in the 4th quarter valued at about $91,000. Pacer Advisors Inc. purchased a new stake in Tactile Systems Technology during the fourth quarter valued at approximately $1,610,000. Invesco Ltd. raised its position in Tactile Systems Technology by 180.8% during the fourth quarter. Invesco Ltd. now owns 160,333 shares of the company’s stock valued at $4,650,000 after purchasing an additional 103,237 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of Tactile Systems Technology in the 4th quarter valued at approximately $278,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Tactile Systems Technology in the 4th quarter worth approximately $551,000. 83.43% of the stock is currently owned by institutional investors.

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.