Elaine M. Birkemeyer Sells 3,778 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) CFO Elaine M. Birkemeyer sold 3,778 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $14.70, for a total value of $55,536.60. Following the sale, the chief financial officer now directly owns 104,098 shares of the company’s stock, valued at $1,530,240.60. This represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Tactile Systems Technology Stock Down 1.0 %

Shares of TCMD stock traded down $0.15 during mid-day trading on Monday, hitting $14.90. The stock had a trading volume of 483,839 shares, compared to its average volume of 299,195. The firm has a market capitalization of $351.42 million, a P/E ratio of 21.29 and a beta of 1.20. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.36 and a quick ratio of 3.80. Tactile Systems Technology, Inc. has a 12-month low of $11.12 and a 12-month high of $21.10. The firm’s 50-day moving average is $17.26 and its two-hundred day moving average is $15.71.

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, topping 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 company had revenue of $85.59 million during the quarter, compared to analyst estimates of $85.39 million. On average, analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Tactile Systems Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in TCMD. Mackenzie Financial Corp lifted its position in shares of Tactile Systems Technology by 164.1% during the fourth quarter. Mackenzie Financial Corp now owns 36,295 shares of the company’s stock valued at $622,000 after buying an additional 22,551 shares during the last quarter. PharVision Advisers LLC purchased a new stake in shares of Tactile Systems Technology during the 4th quarter valued at $306,000. Virtus Fund Advisers LLC boosted its position 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 worth $72,000 after purchasing an additional 2,464 shares in the last quarter. Virtus Investment Advisers Inc. boosted its holdings in Tactile Systems Technology by 74.6% in the fourth quarter. Virtus Investment Advisers Inc. now owns 27,931 shares of the company’s stock worth $478,000 after acquiring an additional 11,930 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Tactile Systems Technology during the fourth quarter worth about $239,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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.