Tactile Systems Technology, Inc. (NASDAQ:TCMD) Sees Significant Drop in Short Interest

Tactile Systems Technology, Inc. (NASDAQ:TCMD - Get Free Report) saw a significant 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. Based on an average daily trading volume, of 274,800 shares, the days-to-cover ratio is presently 7.5 days. Currently, 8.9% of the shares of the company are short sold.

Tactile Systems Technology Price Performance

Shares of TCMD traded down $0.40 during mid-day trading on Friday, hitting $13.29. 416,839 shares of the stock were exchanged, compared to its average volume of 245,474. 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 company has a market cap of $313.44 million, a PE ratio of 18.99 and a beta of 1.24. Tactile Systems Technology has a 52-week low of $11.12 and a 52-week high of $21.10. The firm has a 50-day moving average of $15.89 and a two-hundred day moving average of $15.80.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $85.59 million for the quarter, compared to the consensus estimate of $85.39 million. On average, equities analysts predict that Tactile Systems Technology will post 0.7 earnings per share for the current year.

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Insider Activity at Tactile Systems Technology

In other Tactile Systems Technology news, Director Daniel L. Reuvers sold 10,938 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $14.55, for a total transaction of $159,147.90. Following the sale, the director now owns 242,942 shares in the company, valued at approximately $3,534,806.10. This trade represents a 4.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.70, for a total transaction of $55,536.60. Following the completion of the sale, the chief financial officer now directly owns 104,098 shares of the company's stock, valued at approximately $1,530,240.60. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,546 shares of company stock worth $285,444. 0.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Tactile Systems Technology by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 1,483,692 shares of the company's stock worth $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 4th quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company's stock worth $15,444,000 after purchasing an additional 67,934 shares during the period. Wasatch Advisors LP increased its position in shares of Tactile Systems Technology by 9.8% during the 3rd quarter. Wasatch Advisors LP now owns 727,194 shares of the company's stock valued at $10,624,000 after purchasing an additional 64,684 shares during the last quarter. Royce & Associates LP raised its holdings in Tactile Systems Technology by 2.5% during the 3rd 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 during the period. Finally, Geode Capital Management LLC lifted its position in Tactile Systems Technology by 1.5% in the third quarter. Geode Capital Management LLC now owns 558,667 shares of the company's stock worth $8,164,000 after buying an additional 8,422 shares during the last quarter. Institutional investors own 83.43% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on TCMD shares. B. Riley downgraded Tactile Systems Technology from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $23.00 to $18.00 in a research note on Wednesday, February 19th. StockNews.com upgraded shares of Tactile Systems Technology from a "buy" rating to a "strong-buy" rating in a research note on Friday.

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.