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

Tactile Systems Technology, Inc. (NASDAQ:TCMD) was the target of a significant drop in short interest in the month of 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. Currently, 8.9% of the shares of the company are sold short. Based on an average daily volume of 274,800 shares, the short-interest ratio is currently 7.5 days.

Insider Buying and Selling

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 3,778 shares of Tactile Systems Technology stock in a transaction on Monday, February 24th. The shares were sold at an average price of $14.70, for a total transaction of $55,536.60. Following the completion of the transaction, the chief financial officer now directly owns 104,098 shares of the company’s stock, valued at $1,530,240.60. The trade was a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Kristie Burns sold 4,830 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $14.65, for a total transaction of $70,759.50. Following the completion of the transaction, the vice president now owns 84,008 shares in the company, valued at approximately $1,230,717.20. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,546 shares of company stock worth $285,444. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Tactile Systems Technology

A number of large investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp bought a new stake in shares of Tactile Systems Technology during the 4th quarter valued at $39,000. Virtus Fund Advisers LLC increased its holdings in 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 acquired a new position in shares of Tactile Systems Technology in the 4th quarter valued at approximately $81,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Tactile Systems Technology during the 4th quarter worth approximately $97,000. Finally, Legal & General Group Plc increased its stake in Tactile Systems Technology by 33.2% in the fourth quarter. Legal & General Group Plc now owns 6,257 shares of the company’s stock valued at $107,000 after acquiring an additional 1,558 shares during the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

Tactile Systems Technology Stock Performance

Shares of Tactile Systems Technology stock traded up $0.11 during trading on Tuesday, reaching $13.64. The company’s stock had a trading volume of 14,985 shares, compared to its average volume of 244,349. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average price is $16.20 and its 200-day moving average price is $15.82. Tactile Systems Technology has a 52 week low of $11.12 and a 52 week high of $21.10. The firm has a market cap of $321.72 million, a PE ratio of 19.46 and a beta of 1.24.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. The firm had revenue of $85.59 million during the quarter, compared to the consensus estimate of $85.39 million. Equities analysts forecast that Tactile Systems Technology will post 0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TCMD shares. B. Riley lowered shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating and decreased their price target for the company from $23.00 to $18.00 in a research note on Wednesday, February 19th. StockNews.com downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th.

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.