Tactile Systems Technology (NASDAQ:TCMD) Stock: Insider William Burke Sells 5,000 Shares

Key Points

• Director William Burke sold 5,000 shares for $135,000 at $27 per share, reducing his stake by 9.08% to 50,041 shares. The sale was made under a pre-arranged Rule 10b5-1 plan.
• Tactile Systems Technology reported quarterly EPS of $0.31, above the $0.28 consensus estimate, while revenue of $91.86 million fell slightly short of expectations.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $36.80; BTIG cut its target from $35 to $31 while maintaining a Buy rating.

Tactile Systems Technology, Inc. (NASDAQ:TCMD - Get Free Report) Director William Burke sold 5,000 shares of Tactile Systems Technology stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $27.00, for a total value of $135,000.00. Following the completion of the transaction, the director directly owned 50,041 shares of the company's stock, valued at approximately $1,351,107. This trade represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tactile Systems Technology Stock Performance

Shares of NASDAQ:TCMD traded up $0.56 during midday trading on Monday, reaching $26.59. The company's stock had a trading volume of 167,668 shares, compared to its average volume of 303,476. Tactile Systems Technology, Inc. has a fifty-two week low of $20.53 and a fifty-two week high of $37.77. The firm has a 50 day moving average price of $22.93 and a two-hundred day moving average price of $25.82. The firm has a market capitalization of $594.02 million, a price-to-earnings ratio of 25.82 and a beta of 0.95.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last released its earnings results on Monday, November 2nd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. The business had revenue of $91.86 million during the quarter, compared to analysts' expectations of $91.99 million. Tactile Systems Technology had a return on equity of 10.73% and a net margin of 6.68%. As a group, research analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current year.

Institutional Trading of Tactile Systems Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCMD. Quantinno Capital Management LP boosted its holdings in Tactile Systems Technology by 1.3% in the first quarter. Quantinno Capital Management LP now owns 53,612 shares of the company's stock worth $1,401,000 after acquiring an additional 684 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Tactile Systems Technology by 24.3% during the second quarter. IFP Advisors Inc now owns 3,606 shares of the company's stock valued at $107,000 after acquiring an additional 704 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Tactile Systems Technology by 4.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 19,071 shares of the company's stock worth $425,000 after purchasing an additional 749 shares during the period. Pinnacle Associates Ltd. raised its position in shares of Tactile Systems Technology by 0.3% during the third quarter. Pinnacle Associates Ltd. now owns 327,967 shares of the company's stock worth $7,310,000 after purchasing an additional 850 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Tactile Systems Technology by 36.4% during the second quarter. Versant Capital Management Inc now owns 3,285 shares of the company's stock worth $98,000 after purchasing an additional 876 shares during the period. 83.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on TCMD shares. BTIG Research reduced their price objective on shares of Tactile Systems Technology from $35.00 to $31.00 and set a "buy" rating for the company in a research report on Tuesday, November 3rd. Wall Street Zen downgraded shares of Tactile Systems Technology from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Finally, Weiss Ratings lowered shares of Tactile Systems Technology from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, November 3rd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.80.

About Tactile Systems Technology

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.

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