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

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

Tactile Systems Technology Price Performance

NASDAQ:TCMD opened at $13.66 on Wednesday. Tactile Systems Technology has a 52 week low of $11.12 and a 52 week high of $21.10. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $322.17 million, a P/E ratio of 19.51 and a beta of 1.24. The stock’s fifty day moving average is $16.12 and its two-hundred day moving average is $15.82.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Tuesday, February 18th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. Tactile Systems Technology had a return on equity of 9.37% and a net margin of 5.79%. The company had revenue of $85.59 million for the quarter, compared to the consensus estimate of $85.39 million. Equities analysts expect that Tactile Systems Technology will post 0.7 EPS for the current year.

Insider Transactions at Tactile Systems Technology

In other news, Director Daniel L. Reuvers sold 10,938 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, February 24th. The stock was 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 $3,534,806.10. The trade was a 4.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Kristie Burns sold 4,830 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $14.65, for a total value of $70,759.50. Following the completion of the sale, the vice president now directly owns 84,008 shares in the company, valued at $1,230,717.20. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock valued at $285,444 over the last ninety days. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Tactile Systems Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCMD. Jones Financial Companies Lllp purchased a new stake in Tactile Systems Technology in the fourth quarter valued at $39,000. Virtus Fund Advisers LLC raised its position in Tactile Systems Technology by 142.0% in the fourth quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company’s stock valued at $72,000 after purchasing an additional 2,464 shares during the period. Quarry LP purchased a new stake in shares of Tactile Systems Technology in the 4th quarter valued at $81,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Tactile Systems Technology in the 4th quarter valued at $97,000. Finally, Legal & General Group Plc raised its holdings in shares of Tactile Systems Technology by 33.2% in the 4th quarter. Legal & General Group Plc now owns 6,257 shares of the company’s stock valued at $107,000 after buying an additional 1,558 shares during the period. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Analyst Upgrades and Downgrades

TCMD has been the topic of a number of recent research reports. B. Riley lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $18.00 in a research note on Wednesday, February 19th. StockNews.com lowered Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th.

About Tactile Systems Technology

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.