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

Tactile Systems Technology, Inc. (NASDAQ:TCMD) was the target of a large 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 trading volume of 313,500 shares, the days-to-cover ratio is currently 7.9 days.

Insider Activity

In related news, CFO Elaine M. Birkemeyer sold 3,778 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $14.70, for a total transaction of $55,536.60. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel L. Reuvers sold 10,938 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $14.55, for a total transaction of $159,147.90. Following the completion of the sale, the director now owns 242,942 shares of the company’s stock, valued at $3,534,806.10. This trade represents a 4.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock valued at $285,444 in the last ninety days. 0.96% of the stock is currently owned by company insiders.

Institutional Trading of Tactile Systems Technology

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Tactile Systems Technology by 0.3% during the 4th 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 during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 worth $15,444,000 after buying an additional 67,934 shares during the period. Wasatch Advisors LP grew its position in Tactile Systems Technology by 9.8% during the 3rd quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock worth $10,624,000 after purchasing an additional 64,684 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Tactile Systems Technology by 2.5% during the third quarter. Royce & Associates LP now owns 612,979 shares of the company’s stock valued at $8,956,000 after buying an additional 14,780 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Tactile Systems Technology by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock valued at $8,164,000 after purchasing an additional 8,422 shares during the period. 83.43% of the stock is currently owned by institutional investors.

Tactile Systems Technology Stock Down 1.4 %

TCMD stock opened at $14.09 on Tuesday. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $332.31 million, a price-to-earnings ratio of 20.13 and a beta of 1.20. The firm’s 50-day moving average is $16.92 and its two-hundred day moving average is $15.77. 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 issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.31 by $0.09. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. The firm had revenue of $85.59 million for the quarter, compared to analysts’ expectations of $85.39 million. On average, analysts forecast that Tactile Systems Technology will post 0.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TCMD shares. B. Riley downgraded Tactile Systems Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $18.00 in a research report 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. Oppenheimer lowered shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Finally, StockNews.com lowered Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report 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.