Tactile Systems Technology (NASDAQ:TCMD) Stock: Insider William Burke Sells 5,000 Shares

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director William Burke sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $27.00, for a total transaction of $135,000.00. Following the completion of the transaction, the director owned 50,041 shares in the company, valued at approximately $1,351,107. This represents a 9.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tactile Systems Technology Stock Performance

NASDAQ:TCMD opened at $26.62 on Wednesday. Tactile Systems Technology, Inc. has a fifty-two week low of $20.53 and a fifty-two week high of $37.77. The company has a 50 day moving average price of $23.07 and a 200 day moving average price of $25.79. The stock has a market capitalization of $594.58 million, a P/E ratio of 25.84 and a beta of 0.95.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, November 2nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. Tactile Systems Technology had a return on equity of 10.73% and a net margin of 6.68%. The company had revenue of $91.86 million for the quarter, compared to analyst estimates of $91.99 million. Research analysts forecast that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quantinno Capital Management LP increased its stake in Tactile Systems Technology by 1.3% during the 1st quarter. Quantinno Capital Management LP now owns 53,612 shares of the company’s stock worth $1,401,000 after buying an additional 684 shares during the period. IFP Advisors Inc grew its stake in shares of Tactile Systems Technology by 24.3% in the second quarter. IFP Advisors Inc now owns 3,606 shares of the company’s stock worth $107,000 after acquiring an additional 704 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Tactile Systems Technology by 4.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,071 shares of the company’s stock worth $425,000 after acquiring an additional 749 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Tactile Systems Technology by 0.3% in the third quarter. Pinnacle Associates Ltd. now owns 327,967 shares of the company’s stock worth $7,310,000 after acquiring an additional 850 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Tactile Systems Technology by 36.4% in the second quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock worth $98,000 after acquiring an additional 876 shares in the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TCMD shares. Weiss Ratings downgraded Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, November 3rd. BTIG Research decreased their target price on Tactile Systems Technology from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, November 3rd. Finally, Wall Street Zen cut Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Sunday. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Tactile Systems Technology currently has an average rating of “Moderate Buy” and a consensus price target of $36.80.

Tactile Systems Technology Company Profile

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk. Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.