Key Points
- CEO Sheri Louise Dodd sold 15,240 shares on Feb. 23 at an average price of $28.30 for total proceeds of $431,292, reducing her stake by 5.64% to 254,878 shares (valued at about $7.21M); the transaction was reported in an SEC Form 4 filing.
- Tactile Systems beat quarterly expectations with $0.46 EPS (vs. $0.44) and $103.6M revenue (vs. $93.8M), and the stock has a consensus "Moderate Buy" from analysts with an average price target of $37.40 while institutional investors hold roughly 83.4% of the shares.
Tactile Systems Technology, Inc. (NASDAQ:TCMD - Get Free Report) VP Kristie Burns sold 4,439 shares of the company's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $28.30, for a total value of $125,623.70. Following the completion of the transaction, the vice president directly owned 88,827 shares in the company, valued at $2,513,804.10. This trade represents a 4.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Kristie Burns also recently made the following trade(s):
- On Friday, January 2nd, Kristie Burns sold 5,139 shares of Tactile Systems Technology stock. The stock was sold at an average price of $28.85, for a total value of $148,260.15.
Tactile Systems Technology Trading Down 0.0%
Shares of TCMD opened at $28.65 on Wednesday. The firm has a fifty day moving average price of $29.09 and a 200-day moving average price of $21.84. The firm has a market capitalization of $642.91 million, a P/E ratio of 34.52 and a beta of 0.96. Tactile Systems Technology, Inc. has a 12-month low of $8.61 and a 12-month high of $37.77.
Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.02. The company had revenue of $103.59 million during the quarter, compared to analyst estimates of $93.80 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.26%. Analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.
Institutional Trading of Tactile Systems Technology
Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC raised its stake in shares of Tactile Systems Technology by 248.3% during the 2nd quarter. Acadian Asset Management LLC now owns 683,662 shares of the company's stock worth $6,930,000 after acquiring an additional 487,392 shares in the last quarter. Next Century Growth Investors LLC acquired a new position in shares of Tactile Systems Technology during the fourth quarter worth $11,309,000. Marshall Wace LLP purchased a new stake in shares of Tactile Systems Technology during the 4th quarter valued at $7,700,000. Janus Henderson Group PLC acquired a new stake in shares of Tactile Systems Technology in the 4th quarter worth $5,503,000. Finally, LSV Asset Management boosted its position in shares of Tactile Systems Technology by 119.8% in the 4th quarter. LSV Asset Management now owns 323,004 shares of the company's stock worth $9,367,000 after purchasing an additional 176,059 shares in the last quarter. 83.43% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have weighed in on TCMD shares. Zacks Research cut Tactile Systems Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, January 5th. B. Riley Financial upped their price objective on shares of Tactile Systems Technology from $16.00 to $32.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 18th. Piper Sandler raised their target price on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday, February 18th. Weiss Ratings restated a "hold (c+)" rating on shares of Tactile Systems Technology in a report on Monday, December 29th. Finally, Lake Street Capital set a $40.00 price objective on shares of Tactile Systems Technology and gave the company a "buy" rating in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $37.40.
Read Our Latest Stock Analysis 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.
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