Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine M. Birkemeyer Sells 3,778 Shares of Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine M. Birkemeyer sold 3,778 shares of Tactile Systems Technology stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.70, for a total transaction of $55,536.60. Following the transaction, the chief financial officer now owns 104,098 shares in the company, valued at $1,530,240.60. This represents a 3.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Tactile Systems Technology Stock Down 1.0 %

TCMD opened at $14.90 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.80 and a current ratio of 4.36. Tactile Systems Technology, Inc. has a fifty-two week low of $11.12 and a fifty-two week high of $21.10. The firm’s fifty day moving average is $17.26 and its 200 day moving average is $15.71. The stock has a market cap of $351.42 million, a price-to-earnings ratio of 21.29 and a beta of 1.20.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. The company had revenue of $85.59 million for the quarter, compared to analysts’ expectations of $85.39 million. On average, sell-side analysts forecast that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on TCMD. BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 5th. Oppenheimer cut shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. B. Riley cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $18.00 in a research note on Wednesday, February 19th. Finally, StockNews.com cut shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TCMD. Millennium Management LLC purchased a new position in shares of Tactile Systems Technology during the 4th quarter valued at $2,793,000. Norges Bank purchased a new stake in Tactile Systems Technology in the 4th quarter worth $2,534,000. Renaissance Technologies LLC lifted its stake in Tactile Systems Technology by 44.0% in the 4th quarter. Renaissance Technologies LLC now owns 451,100 shares of the company’s stock worth $7,727,000 after purchasing an additional 137,900 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Tactile Systems Technology in the 4th quarter worth $1,328,000. Finally, Dimensional Fund Advisors LP lifted its stake in Tactile Systems Technology by 8.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company’s stock worth $15,444,000 after purchasing an additional 67,934 shares in the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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.