Tactile Systems Technology (NASDAQ:TCMD) CEO Sheri Louise Dodd Sells 10,978 Shares of Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CEO Sheri Louise Dodd sold 10,978 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $29.44, for a total transaction of $323,192.32. Following the transaction, the chief executive officer directly owned 232,907 shares of the company’s stock, valued at $6,856,782.08. This represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tactile Systems Technology Stock Performance

NASDAQ:TCMD traded up $0.36 during mid-day trading on Wednesday, reaching $24.51. The stock had a trading volume of 547,059 shares, compared to its average volume of 314,618. The firm has a market capitalization of $552.95 million, a price-to-earnings ratio of 22.69 and a beta of 0.81. Tactile Systems Technology, Inc. has a twelve month low of $12.25 and a twelve month high of $37.77. The business has a 50 day simple moving average of $28.13 and a 200 day simple moving average of $27.01.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.20. The company had revenue of $85.70 million for the quarter, compared to analysts’ expectations of $85.52 million. Tactile Systems Technology had a return on equity of 11.62% and a net margin of 7.10%. As a group, sell-side analysts expect that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. BTIG Research dropped their price objective on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Tactile Systems Technology in a report on Monday, August 3rd. Finally, B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $32.00 to $36.00 in a research report on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.40.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in shares of Tactile Systems Technology by 2.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company’s stock worth $2,471,000 after acquiring an additional 3,898 shares in the last quarter. Rhumbline Advisers raised its holdings in Tactile Systems Technology by 4.0% during the second quarter. Rhumbline Advisers now owns 37,780 shares of the company’s stock worth $383,000 after purchasing an additional 1,441 shares during the last quarter. American Century Companies Inc. raised its holdings in Tactile Systems Technology by 11.2% during the second quarter. American Century Companies Inc. now owns 53,264 shares of the company’s stock worth $540,000 after purchasing an additional 5,364 shares during the last quarter. Prudential Financial Inc. boosted its position in Tactile Systems Technology by 3.5% during the second quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock worth $247,000 after purchasing an additional 835 shares in the last quarter. Finally, Norges Bank purchased a new stake in Tactile Systems Technology during the second quarter worth $1,464,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

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.