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

Tactile Systems Technology, Inc. (NASDAQ:TCMD) was the target of a large growth in short interest in 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.

Tactile Systems Technology Stock Up 0.6 %

Shares of NASDAQ:TCMD traded up $0.08 during trading on Friday, hitting $14.29. 236,510 shares of the company were exchanged, compared to its average volume of 295,241. The stock has a market cap of $337.03 million, a price-to-earnings ratio of 20.41 and a beta of 1.20. Tactile Systems Technology has a fifty-two week low of $11.12 and a fifty-two week high of $21.10. The firm has a fifty day moving average price of $16.98 and a two-hundred day moving average price of $15.74. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09. The firm had revenue of $85.59 million for the quarter, compared to analyst estimates of $85.39 million. Tactile Systems Technology had a return on equity of 9.37% and a net margin of 5.79%. As a group, research analysts anticipate that Tactile Systems Technology will post 0.7 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Kristie Burns sold 4,830 shares of Tactile Systems Technology stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $14.65, for a total transaction of $70,759.50. Following the transaction, the vice president now owns 84,008 shares in the company, valued at $1,230,717.20. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of Tactile Systems Technology stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $14.70, for a total value of $55,536.60. Following the transaction, the chief financial officer now owns 104,098 shares in the company, valued at $1,530,240.60. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock worth $285,444 in the last 90 days. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Arcadia Investment Management Corp MI acquired a new position in shares of Tactile Systems Technology during the 3rd quarter worth approximately $29,000. Jones Financial Companies Lllp acquired a new position in shares of Tactile Systems Technology during the 4th quarter worth approximately $39,000. Gladius Capital Management LP acquired a new position in shares of Tactile Systems Technology during the 3rd quarter worth approximately $44,000. Virtus Fund Advisers LLC increased its holdings in shares of Tactile Systems Technology by 142.0% during the 4th 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 during the last quarter. Finally, Quarry LP acquired a new position in shares of Tactile Systems Technology during the 4th quarter worth approximately $81,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on TCMD shares. Oppenheimer cut Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. B. Riley cut Tactile Systems Technology from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $18.00 in a research note on Wednesday, February 19th. BTIG Research cut 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.