Insider Selling: Tactile Systems Technology (NASDAQ:TCMD) CEO Sells $323,192.32 in Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CEO Sheri Louise Dodd sold 10,978 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the completion of the transaction, the chief executive officer directly owned 232,907 shares of the company’s stock, valued at approximately $6,856,782.08. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tactile Systems Technology Price Performance

Shares of Tactile Systems Technology stock opened at $24.20 on Friday. Tactile Systems Technology, Inc. has a 1-year low of $12.25 and a 1-year high of $37.77. The company has a market capitalization of $548.13 million, a PE ratio of 22.41 and a beta of 0.81. The business has a 50-day moving average of $28.08 and a 200-day moving average of $26.92.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, August 10th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.14 by $0.20. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%.The business had revenue of $85.70 million for the quarter, compared to analysts’ expectations of $85.52 million. On average, equities analysts expect that Tactile Systems Technology, Inc. will post 1.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tactile Systems Technology

A number of hedge funds have recently bought and sold shares of TCMD. Russell Investments Group Ltd. increased its holdings in Tactile Systems Technology by 1,594.4% in the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock valued at $29,000 after buying an additional 1,993 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tactile Systems Technology in the 4th quarter worth approximately $32,000. Quarry LP grew its position in shares of Tactile Systems Technology by 302.6% in the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after acquiring an additional 1,743 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Tactile Systems Technology during the 4th quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC bought a new position in Tactile Systems Technology during the fourth quarter worth $37,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TCMD shares. Weiss Ratings restated a “hold (c-)” rating on shares of Tactile Systems Technology in a report on Monday, August 3rd. Wall Street Zen cut Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday. BTIG Research decreased their price target on shares of Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $32.00 to $36.00 in a research note on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.40.

Tactile Systems Technology Company Profile

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.