Key Points
- VP Kristie Burns sold 5,139 shares on Jan. 2 at an average price of $28.85 for about $148,260, reducing her stake by 6.63% to 72,401 shares.
- Tactile Systems recently beat quarterly expectations (EPS $0.36 vs. $0.16 forecast; revenue $85.76M), has a market cap around $681M and carries a consensus "Buy" rating with an average target of $28.75.
- Institutional investors own roughly 83.4% of the stock, with multiple funds (e.g., Acadian, Federated Hermes, LSV, Bridgeway) notably increasing their positions.
Tactile Systems Technology, Inc. (NASDAQ:TCMD - Get Free Report) VP Kristie Burns sold 5,139 shares of the company's stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $28.85, for a total transaction of $148,260.15. Following the completion of the transaction, the vice president owned 72,401 shares in the company, valued at approximately $2,088,768.85. This represents a 6.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Tactile Systems Technology Stock Up 1.2%
Shares of NASDAQ:TCMD opened at $30.50 on Wednesday. Tactile Systems Technology, Inc. has a 12-month low of $8.61 and a 12-month high of $30.97. The firm has a market capitalization of $681.37 million, a P/E ratio of 39.61 and a beta of 0.91. The firm has a fifty day moving average of $26.00 and a two-hundred day moving average of $17.25.
Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.20. Tactile Systems Technology had a return on equity of 8.84% and a net margin of 5.83%.The firm had revenue of $85.76 million during the quarter, compared to analysts' expectations of $79.31 million. Equities research analysts expect that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current fiscal year.
Institutional Trading of Tactile Systems Technology
Institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in Tactile Systems Technology by 248.3% during the second quarter. Acadian Asset Management LLC now owns 683,662 shares of the company's stock valued at $6,930,000 after acquiring an additional 487,392 shares during the period. Federated Hermes Inc. boosted its stake in Tactile Systems Technology by 42.7% during the 2nd quarter. Federated Hermes Inc. now owns 551,561 shares of the company's stock valued at $5,593,000 after purchasing an additional 165,163 shares during the period. Norges Bank bought a new stake in Tactile Systems Technology during the 2nd quarter valued at approximately $1,464,000. LSV Asset Management grew its holdings in Tactile Systems Technology by 304.8% in the 3rd quarter. LSV Asset Management now owns 146,945 shares of the company's stock valued at $2,034,000 after buying an additional 110,645 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in Tactile Systems Technology by 297.3% in the 3rd quarter. Bridgeway Capital Management LLC now owns 133,878 shares of the company's stock worth $1,853,000 after buying an additional 100,178 shares during the period. 83.43% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
TCMD has been the topic of a number of research reports. Weiss Ratings restated a "hold (c+)" rating on shares of Tactile Systems Technology in a report on Monday, December 29th. Zacks Research raised shares of Tactile Systems Technology from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 5th. Piper Sandler set a $35.00 price target on shares of Tactile Systems Technology in a research note on Monday. Lake Street Capital lifted their price objective on shares of Tactile Systems Technology from $23.50 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen upgraded shares of Tactile Systems Technology from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 1st. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Tactile Systems Technology presently has a consensus rating of "Buy" and an average target price of $28.75.
Read Our Latest Report on TCMD
About Tactile Systems Technology
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
