Tactile Systems Technology, Inc. (NASDAQ:TCMD) Sees Large Decline in Short Interest

Tactile Systems Technology, Inc. (NASDAQ:TCMD - Get Free Report) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 1,180,000 shares, a decline of 19.7% from the March 15th total of 1,470,000 shares. Based on an average trading volume of 300,700 shares, the days-to-cover ratio is presently 3.9 days.

Tactile Systems Technology Trading Down 1.8 %

Tactile Systems Technology stock traded down $0.27 during trading on Friday, hitting $14.78. The company's stock had a trading volume of 167,100 shares, compared to its average volume of 214,620. The stock has a market capitalization of $351.17 million, a price-to-earnings ratio of 12.32 and a beta of 1.19. The stock's fifty day moving average is $15.50 and its 200 day moving average is $13.95. Tactile Systems Technology has a 1-year low of $9.69 and a 1-year high of $26.11. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.99 and a current ratio of 3.54.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.25. Tactile Systems Technology had a return on equity of 17.08% and a net margin of 10.39%. The firm had revenue of $77.65 million during the quarter, compared to the consensus estimate of $78.85 million. During the same quarter in the previous year, the business earned $0.29 earnings per share. As a group, equities research analysts predict that Tactile Systems Technology will post 0.56 EPS for the current year.

Insider Transactions at Tactile Systems Technology

In other news, CEO Daniel L. Reuvers sold 6,239 shares of the business's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.81, for a total value of $98,638.59. Following the completion of the transaction, the chief executive officer now directly owns 244,112 shares of the company's stock, valued at $3,859,410.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Daniel L. Reuvers sold 5,378 shares of the company's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $14.85, for a total value of $79,863.30. Following the completion of the transaction, the chief executive officer now directly owns 192,321 shares in the company, valued at $2,855,966.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel L. Reuvers sold 6,239 shares of the company's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.81, for a total value of $98,638.59. Following the completion of the transaction, the chief executive officer now owns 244,112 shares of the company's stock, valued at $3,859,410.72. The disclosure for this sale can be found here. Insiders sold a total of 17,520 shares of company stock valued at $268,820 over the last three months. 0.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tactile Systems Technology

Institutional investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System purchased a new stake in Tactile Systems Technology during the third quarter valued at about $29,000. Covestor Ltd grew its position in Tactile Systems Technology by 69.4% during the third quarter. Covestor Ltd now owns 2,872 shares of the company's stock valued at $40,000 after acquiring an additional 1,177 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Tactile Systems Technology by 219.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,016 shares of the company's stock worth $40,000 after buying an additional 1,385 shares during the period. International Assets Investment Management LLC boosted its position in shares of Tactile Systems Technology by 1,330.0% in the fourth quarter. International Assets Investment Management LLC now owns 2,860 shares of the company's stock worth $41,000 after buying an additional 2,660 shares during the period. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Tactile Systems Technology in the third quarter worth about $43,000. 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.