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

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

Insider Activity at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 3,778 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $14.70, for a total value of $55,536.60. Following the completion of the transaction, the chief financial officer now owns 104,098 shares of the company’s stock, valued at $1,530,240.60. This represents a 3.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel L. Reuvers sold 10,938 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $14.55, for a total transaction of $159,147.90. Following the completion of the sale, the director now owns 242,942 shares in the company, valued at $3,534,806.10. This represents a 4.31 % decrease in their position. 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. 0.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp raised its stake in Tactile Systems Technology by 164.1% during the fourth quarter. Mackenzie Financial Corp now owns 36,295 shares of the company’s stock worth $622,000 after buying an additional 22,551 shares during the last quarter. PharVision Advisers LLC acquired a new stake in Tactile Systems Technology during the fourth quarter worth approximately $306,000. Virtus Fund Advisers LLC increased its holdings 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 worth $72,000 after purchasing an additional 2,464 shares in the last quarter. Virtus Investment Advisers Inc. lifted its stake in Tactile Systems Technology by 74.6% in the fourth quarter. Virtus Investment Advisers Inc. now owns 27,931 shares of the company’s stock valued at $478,000 after buying an additional 11,930 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of Tactile Systems Technology during the 4th quarter worth approximately $239,000. Institutional investors and hedge funds own 83.43% of the company’s stock.

Tactile Systems Technology Trading Up 0.8 %

Shares of NASDAQ:TCMD traded up $0.11 during mid-day trading on Tuesday, reaching $13.64. 14,985 shares of the company’s stock were exchanged, compared to its average volume of 244,349. 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 has a twelve month low of $11.12 and a twelve month high of $21.10. The firm has a market capitalization of $321.72 million, a price-to-earnings ratio of 19.46 and a beta of 1.24. The business’s fifty day moving average price is $16.20 and its 200-day moving average price is $15.82.

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

Analysts Set New Price Targets

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

Tactile Systems Technology Company Profile

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.