Tactile Systems Technology (NASDAQ:TCMD) CEO Sells $323,192.32 in Stock

Key Points

• CEO Sheri Louise Dodd sold 10,978 shares of Tactile Systems Technology at an average price of $29.44, totaling $323,192.32. The sale reduced her direct ownership by 4.5% and covered tax obligations from vested equity awards.
• Tactile Systems reported quarterly EPS of $0.34, beating the $0.14 consensus estimate, while revenue of $85.70 million was roughly in line with expectations.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $38.40, while institutional investors own 83.43% of the company’s shares.

Tactile Systems Technology, Inc. (NASDAQ:TCMD - Get Free Report) CEO Sheri Louise Dodd sold 10,978 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.44, for a total value of $323,192.32. Following the completion of the sale, the chief executive officer directly owned 232,907 shares of the company's stock, valued at approximately $6,856,782.08. This trade represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tactile Systems Technology Stock Up 1.5%

TCMD traded up $0.36 during trading on Wednesday, hitting $24.51. 547,059 shares of the stock were exchanged, compared to its average volume of 314,618. The firm has a market capitalization of $552.95 million, a P/E ratio of 22.69 and a beta of 0.81. Tactile Systems Technology, Inc. has a 1-year low of $12.25 and a 1-year high of $37.77. The stock has a fifty day moving average price of $28.13 and a two-hundred day moving average price of $27.01.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.20. The company had revenue of $85.70 million during the quarter, compared to analysts' expectations of $85.52 million. Tactile Systems Technology had a return on equity of 11.62% and a net margin of 7.10%. Analysts predict that Tactile Systems Technology, Inc. will post 1.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TCMD. BTIG Research decreased their price target on shares of Tactile Systems Technology from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Tuesday. B. Riley Financial upgraded shares of Tactile Systems Technology from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $32.00 to $36.00 in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Tactile Systems Technology in a report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its stake in shares of Tactile Systems Technology by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company's stock worth $29,000 after purchasing an additional 1,993 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Tactile Systems Technology in the 4th quarter valued at $32,000. Quarry LP increased its stake in Tactile Systems Technology by 302.6% in the 3rd quarter. Quarry LP now owns 2,319 shares of the company's stock valued at $32,000 after buying an additional 1,743 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Tactile Systems Technology in the 4th quarter valued at $36,000. Finally, Global Retirement Partners LLC purchased a new position in Tactile Systems Technology during the 4th quarter worth $37,000. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

About Tactile Systems Technology

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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