Tactile Systems Technology (NASDAQ:TCMD) CEO Sheri Louise Dodd Sells 10,993 Shares

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CEO Sheri Louise Dodd sold 10,993 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total value of $318,137.42. Following the completion of the sale, the chief executive officer owned 243,885 shares of the company’s stock, valued at approximately $7,058,031.90. This trade represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Sheri Louise Dodd also recently made the following trade(s):

• On Monday, February 23rd, Sheri Louise Dodd sold 15,240 shares of Tactile Systems Technology stock. The stock was sold at an average price of $28.30, for a total value of $431,292.00.

Tactile Systems Technology Stock Up 1.0%

Shares of TCMD traded up $0.30 during mid-day trading on Thursday, hitting $29.91. 332,975 shares of the company traded hands, compared to its average volume of 391,581. The company has a market capitalization of $671.18 million, a PE ratio of 36.04 and a beta of 0.96. The business has a 50 day moving average of $29.09 and a 200 day moving average of $21.89. Tactile Systems Technology, Inc. has a 1-year low of $8.61 and a 1-year high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Tuesday, February 17th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.26%. The company had revenue of $103.59 million during the quarter, compared to analysts’ expectations of $93.80 million. As a group, research analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Institutional Trading of Tactile Systems Technology

Several hedge funds and other institutional investors have recently bought and sold shares of TCMD. Pacer Advisors Inc. purchased a new position in Tactile Systems Technology during the fourth quarter valued at approximately $1,610,000. Invesco Ltd. grew its stake in shares of Tactile Systems Technology by 180.8% during the 4th quarter. Invesco Ltd. now owns 160,333 shares of the company’s stock worth $4,650,000 after purchasing an additional 103,237 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Tactile Systems Technology during the 4th quarter valued at approximately $278,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Tactile Systems Technology during the 4th quarter valued at approximately $551,000. Finally, Empowered Funds LLC lifted its stake in shares of Tactile Systems Technology by 117.3% in the 4th quarter. Empowered Funds LLC now owns 104,258 shares of the company’s stock valued at $3,023,000 after purchasing an additional 56,280 shares during the period. 83.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TCMD. Piper Sandler raised their target price on Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Lake Street Capital set a $40.00 price objective on Tactile Systems Technology and gave the stock a “buy” rating in a research note on Wednesday, February 18th. B. Riley Financial upped their target price 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. Raymond James Financial set a $35.00 price target on shares of Tactile Systems Technology in a report on Monday, January 5th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.40.

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.