Short Interest in Tactile Systems Technology, Inc. (NASDAQ:TCMD) Decreases By 16.5%

Tactile Systems Technology, Inc. (NASDAQ:TCMD) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 2,070,000 shares, a decline of 16.5% from the February 13th total of 2,480,000 shares. Approximately 8.9% of the shares of the company are sold short. Based on an average daily volume of 274,800 shares, the short-interest ratio is currently 7.5 days.

Tactile Systems Technology Trading Up 1.0 %

Shares of Tactile Systems Technology stock opened at $13.79 on Thursday. Tactile Systems Technology has a 1 year low of $11.12 and a 1 year high of $21.10. 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 has a 50 day moving average price of $16.05 and a 200 day moving average price of $15.81. The company has a market capitalization of $325.24 million, a P/E ratio of 19.70 and a beta of 1.24.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $85.59 million during the quarter, compared to analysts’ expectations of $85.39 million. Sell-side analysts anticipate that Tactile Systems Technology will post 0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TCMD has been the subject of several research reports. StockNews.com cut Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. B. Riley cut 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.

Insiders Place Their Bets

In other news, CFO Elaine M. Birkemeyer sold 3,778 shares of the company’s 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 transaction, the chief financial officer now directly owns 104,098 shares of the company’s stock, valued at $1,530,240.60. This represents a 3.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Kristie Burns sold 4,830 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 84,008 shares of the company’s stock, valued at $1,230,717.20. This trade represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,546 shares of company stock worth $285,444. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Tactile Systems Technology

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Tactile Systems Technology by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 1,483,692 shares of the company’s stock valued at $25,416,000 after acquiring an additional 4,509 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Tactile Systems Technology by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company’s stock valued at $15,444,000 after acquiring an additional 67,934 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Tactile Systems Technology by 9.8% in the third 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 lifted its position in shares of Tactile Systems Technology by 2.5% in the third quarter. Royce & Associates LP now owns 612,979 shares of the company’s stock valued at $8,956,000 after acquiring an additional 14,780 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Tactile Systems Technology by 1.5% in the third quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock valued at $8,164,000 after acquiring an additional 8,422 shares in the last quarter. 83.43% of the stock is currently 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.