Tactile Systems Technology, Inc. (NASDAQ:TCMD) Short Interest Update

Tactile Systems Technology, Inc. (NASDAQ:TCMD) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 2,480,000 shares, a growth of 73.4% from the January 31st total of 1,430,000 shares. Based on an average daily volume of 313,500 shares, the short-interest ratio is currently 7.9 days.

Insider Transactions at Tactile Systems Technology

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 3,778 shares of Tactile Systems Technology stock in a transaction on Monday, February 24th. The shares were sold at an average price of $14.70, for a total transaction of $55,536.60. Following the sale, the chief financial officer now owns 104,098 shares in the company, valued at $1,530,240.60. The trade was a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kristie Burns sold 4,830 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $14.65, for a total transaction of $70,759.50. Following the completion of the transaction, the vice president now owns 84,008 shares of the company’s stock, valued at approximately $1,230,717.20. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,546 shares of company stock worth $285,444. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Tactile Systems Technology

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Tactile Systems Technology by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 1,483,692 shares of the company’s stock valued at $25,416,000 after purchasing an additional 4,509 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Tactile Systems Technology by 8.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company’s stock worth $15,444,000 after acquiring an additional 67,934 shares during the period. Wasatch Advisors LP lifted its position in Tactile Systems Technology by 9.8% in the 3rd quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock valued at $10,624,000 after acquiring an additional 64,684 shares in the last quarter. Royce & Associates LP boosted its stake in Tactile Systems Technology by 2.5% in the 3rd quarter. Royce & Associates LP now owns 612,979 shares of the company’s stock worth $8,956,000 after purchasing an additional 14,780 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Tactile Systems Technology by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock worth $8,164,000 after purchasing an additional 8,422 shares during the period. Institutional investors and hedge funds own 83.43% of the company’s stock.

Tactile Systems Technology Stock Down 1.4 %

Shares of NASDAQ TCMD opened at $14.09 on Tuesday. The firm has a 50 day moving average price of $16.92 and a 200 day moving average price of $15.77. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.80 and a current ratio of 4.36. The stock has a market cap of $332.31 million, a P/E ratio of 20.13 and a beta of 1.20. Tactile Systems Technology has a 52-week low of $11.12 and a 52-week high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. The business had revenue of $85.59 million during 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%. Analysts expect that Tactile Systems Technology will post 0.7 EPS for the current year.

Analyst Ratings Changes

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

Tactile Systems Technology Company Profile

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.