Tactile Systems Technology (NASDAQ:TCMD) Stock: Insider William Burke Sells 5,000 Shares

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director William Burke sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $27.00, for a total transaction of $135,000.00. Following the transaction, the director owned 50,041 shares in the company, valued at approximately $1,351,107. The trade was a 9.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tactile Systems Technology Stock Performance

Shares of Tactile Systems Technology stock traded up $0.56 during trading hours on Monday, reaching $26.59. The company’s stock had a trading volume of 167,668 shares, compared to its average volume of 303,476. Tactile Systems Technology, Inc. has a one year low of $20.53 and a one year high of $37.77. The company has a market capitalization of $594.02 million, a P/E ratio of 25.82 and a beta of 0.95. The stock’s fifty day simple moving average is $22.93 and its two-hundred day simple moving average is $25.82.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, November 2nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. The firm had revenue of $91.86 million during the quarter, compared to analysts’ expectations of $91.99 million. Tactile Systems Technology had a net margin of 6.68% and a return on equity of 10.73%. As a group, research analysts forecast that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current year.

Hedge Funds Weigh In On Tactile Systems Technology

Several large investors have recently bought and sold shares of TCMD. USA Financial Formulas bought a new position in shares of Tactile Systems Technology in the first quarter valued at approximately $71,000. Versant Capital Management Inc increased its position in shares of Tactile Systems Technology by 36.4% during the second quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock valued at $98,000 after acquiring an additional 876 shares during the last quarter. Quantbot Technologies LP bought a new stake in Tactile Systems Technology during the second quarter worth $101,000. IFP Advisors Inc lifted its holdings in Tactile Systems Technology by 24.3% during the second quarter. IFP Advisors Inc now owns 3,606 shares of the company’s stock worth $107,000 after acquiring an additional 704 shares during the period. Finally, Legal & General Group Plc purchased a new position in Tactile Systems Technology in the second quarter worth $182,000. 83.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TCMD shares. BTIG Research cut their price target on Tactile Systems Technology from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, November 3rd. Wall Street Zen lowered Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Weiss Ratings downgraded Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, November 3rd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.80.

About Tactile Systems Technology

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.