Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director William W. Burke Sells 3,300 Shares of Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director William W. Burke sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $9.67, for a total value of $31,911.00. Following the completion of the sale, the director now owns 48,520 shares in the company, valued at approximately $469,188.40. This represents a 6.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Tactile Systems Technology Trading Down 2.2 %

TCMD stock opened at $9.52 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.36 and a quick ratio of 3.80. The stock has a market capitalization of $225.30 million, a price-to-earnings ratio of 13.60 and a beta of 1.05. The business has a fifty day moving average price of $13.30 and a 200 day moving average price of $15.56. Tactile Systems Technology, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The business had revenue of $61.27 million during the quarter, compared to the consensus estimate of $63.48 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. During the same period in the prior year, the firm earned ($0.05) earnings per share. Analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TCMD shares. B. Riley cut Tactile Systems Technology from a “buy” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $18.00 in a research report on Wednesday, February 19th. StockNews.com lowered shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Piper Sandler downgraded shares of Tactile Systems Technology from an “overweight” rating to a “neutral” rating and cut their price target for the company from $25.00 to $14.00 in a report on Tuesday. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.00.

Hedge Funds Weigh In On Tactile Systems Technology

A number of large investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of Tactile Systems Technology by 64,350.0% in the first quarter. GAMMA Investing LLC now owns 2,578 shares of the company’s stock valued at $34,000 after purchasing an additional 2,574 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Tactile Systems Technology in the 4th quarter valued at $39,000. Virtus Fund Advisers LLC increased its stake in shares of Tactile Systems Technology by 142.0% in the 4th quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company’s stock valued at $72,000 after buying an additional 2,464 shares during the period. Quarry LP bought a new stake in shares of Tactile Systems Technology during the fourth quarter worth $81,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Tactile Systems Technology during the fourth quarter valued at $97,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

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.