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

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Director Daniel L. Reuvers sold 10,938 shares of Tactile Systems Technology 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 approximately $3,534,806.10. This trade represents a 4.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Tactile Systems Technology Price Performance

Shares of Tactile Systems Technology stock opened at $14.62 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.36 and a quick ratio of 3.80. The business’s 50 day simple moving average is $17.14 and its two-hundred day simple moving average is $15.73. The stock has a market capitalization of $344.81 million, a P/E ratio of 20.89 and a beta of 1.20. Tactile Systems Technology, Inc. has a one year low of $11.12 and a one year high of $21.10.

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

Wall Street Analysts Forecast Growth

TCMD has been the subject of several recent research reports. Oppenheimer lowered Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. B. Riley downgraded Tactile Systems Technology from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $18.00 in a research report on Wednesday, February 19th. BTIG Research downgraded Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 5th. Finally, StockNews.com downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th.

Hedge Funds Weigh In On Tactile Systems Technology

Hedge funds have recently made changes to their positions in the business. Arcadia Investment Management Corp MI purchased a new stake in Tactile Systems Technology in the third quarter worth $29,000. Jones Financial Companies Lllp bought a new stake in Tactile Systems Technology in the fourth quarter worth $39,000. Gladius Capital Management LP bought a new stake in Tactile Systems Technology in the third quarter worth $44,000. Virtus Fund Advisers LLC boosted its holdings in Tactile Systems Technology by 142.0% in the fourth quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company’s stock worth $72,000 after acquiring an additional 2,464 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Tactile Systems Technology during the fourth quarter valued at $81,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

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.