Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director Daniel L. Reuvers Sells 10,938 Shares

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director Daniel L. Reuvers sold 10,938 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $14.55, for a total transaction 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. This represents a 4.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Tactile Systems Technology Price Performance

Tactile Systems Technology stock traded down $0.15 during mid-day trading on Monday, reaching $14.90. The company had a trading volume of 483,839 shares, compared to its average volume of 299,195. The business has a fifty day simple moving average of $17.26 and a 200 day simple moving average of $15.71. The company has a market cap of $351.42 million, a P/E ratio of 21.29 and a beta of 1.20. Tactile Systems Technology, Inc. has a fifty-two week low of $11.12 and a fifty-two week high of $21.10. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.09. The company 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, equities research analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Tactile Systems Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new position in Tactile Systems Technology in the 3rd quarter valued at approximately $29,000. Jones Financial Companies Lllp acquired a new position in Tactile Systems Technology in the 4th quarter valued at approximately $39,000. Gladius Capital Management LP bought a new position in shares of Tactile Systems Technology during the third quarter valued at $44,000. Virtus Fund Advisers LLC lifted its holdings in shares of Tactile Systems Technology by 142.0% during 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 during the period. Finally, Quarry LP bought a new stake in shares of Tactile Systems Technology in the fourth quarter worth $81,000. 83.43% of the stock is currently owned by institutional investors.

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.