Kristie Burns Sells 6,246 Shares of Tactile Systems Technology (NASDAQ:TCMD) Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) VP Kristie Burns sold 6,246 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total transaction of $180,759.24. Following the transaction, the vice president owned 82,581 shares in the company, valued at $2,389,894.14. This represents a 7.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Kristie Burns also recently made the following trade(s):

• On Monday, February 23rd, Kristie Burns sold 4,439 shares of Tactile Systems Technology stock. The shares were sold at an average price of $28.30, for a total value of $125,623.70.
• On Friday, January 2nd, Kristie Burns sold 5,139 shares of Tactile Systems Technology stock. The shares were sold at an average price of $28.85, for a total value of $148,260.15.

Tactile Systems Technology Stock Performance

TCMD stock opened at $29.29 on Friday. The stock’s 50 day simple moving average is $29.11 and its 200 day simple moving average is $22.07. The company has a market cap of $657.27 million, a P/E ratio of 35.29 and a beta of 0.96. Tactile Systems Technology, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $93.80 million. Equities analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Institutional Trading of Tactile Systems Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Tactile Systems Technology by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company’s stock valued at $47,884,000 after purchasing an additional 76,198 shares in the last quarter. Paradigm Capital Management Inc. NY increased its stake in Tactile Systems Technology by 5.9% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock valued at $16,413,000 after buying an additional 89,600 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Tactile Systems Technology by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,191,207 shares of the company’s stock valued at $16,486,000 after buying an additional 24,001 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Tactile Systems Technology by 248.3% during the 2nd quarter. Acadian Asset Management LLC now owns 683,662 shares of the company’s stock worth $6,930,000 after buying an additional 487,392 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Tactile Systems Technology by 19.4% during the 4th quarter. Federated Hermes Inc. now owns 645,408 shares of the company’s stock worth $18,717,000 after buying an additional 104,648 shares in the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TCMD. B. Riley Financial upped their price objective on shares of Tactile Systems Technology from $16.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. BTIG Research boosted their target price on shares of Tactile Systems Technology from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Wall Street Zen upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Zacks Research downgraded Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Raymond James Financial set a $35.00 price objective on Tactile Systems Technology in a report 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 issued a Hold rating to the stock. According to data from MarketBeat.com, Tactile Systems Technology currently has an average rating of “Moderate Buy” and an average target price 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.