Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director Daniel L. Reuvers Sells 10,938 Shares of Stock

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director Daniel L. Reuvers sold 10,938 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $14.55, for a total value of $159,147.90. Following the completion of the sale, the director now directly owns 242,942 shares of the company’s stock, valued at $3,534,806.10. This represents a 4.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Tactile Systems Technology Price Performance

Shares of NASDAQ:TCMD opened at $14.90 on Tuesday. The firm has a market capitalization of $351.42 million, a PE ratio of 21.29 and a beta of 1.20. Tactile Systems Technology, Inc. has a 1-year low of $11.12 and a 1-year high of $21.10. The business’s 50 day moving average is $17.26 and its 200-day moving average is $15.71. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. The business had revenue of $85.59 million for the quarter, compared to analysts’ expectations of $85.39 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. Sell-side analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Tactile Systems Technology

Institutional investors have recently bought and sold shares of the business. Creative Planning bought a new position in shares of Tactile Systems Technology in the third quarter valued at about $187,000. Arcadia Investment Management Corp MI acquired a new position in shares of Tactile Systems Technology during the third quarter worth approximately $29,000. Los Angeles Capital Management LLC raised its position in Tactile Systems Technology by 36.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 135,796 shares of the company’s stock worth $1,984,000 after purchasing an additional 36,409 shares during the last quarter. Victory Capital Management Inc. bought a new position in Tactile Systems Technology in the 3rd quarter worth approximately $180,000. Finally, Royce & Associates LP lifted its holdings in Tactile Systems Technology by 2.5% during the 3rd quarter. Royce & Associates LP now owns 612,979 shares of the company’s stock worth $8,956,000 after buying an additional 14,780 shares in the last quarter. 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.