Short Interest in Tactile Systems Technology, Inc. (NASDAQ:TCMD) Increases By 73.4%

Tactile Systems Technology, Inc. (NASDAQ:TCMD - Get Free Report) saw 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 daily trading volume, of 313,500 shares, the days-to-cover ratio is presently 7.9 days.

Wall Street Analysts Forecast Growth

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

Tactile Systems Technology Stock Performance

Shares of NASDAQ TCMD traded down $0.20 during mid-day trading on Monday, reaching $14.09. 388,899 shares of the company were exchanged, compared to its average volume of 297,581. Tactile Systems Technology has a twelve month low of $11.12 and a twelve month high of $21.10. The stock has a market capitalization of $332.31 million, a P/E ratio of 20.13 and a beta of 1.20. The company's 50-day simple moving average is $16.98 and its 200-day simple moving average is $15.76. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.40 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 company had revenue of $85.59 million for the quarter, compared to the consensus estimate of $85.39 million. As a group, research analysts predict that Tactile Systems Technology will post 0.7 earnings per share for the current year.

Insider Transactions at Tactile Systems Technology

In other news, CFO Elaine M. Birkemeyer sold 3,778 shares of Tactile Systems Technology 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 trade represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel L. Reuvers sold 10,938 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 242,942 shares of the company's stock, valued at approximately $3,534,806.10. This represents a 4.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,546 shares of company stock worth $285,444. 0.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tactile Systems Technology

Hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp grew its position in shares of Tactile Systems Technology by 164.1% during the 4th quarter. Mackenzie Financial Corp now owns 36,295 shares of the company's stock worth $622,000 after purchasing an additional 22,551 shares in the last quarter. PharVision Advisers LLC acquired a new position in Tactile Systems Technology in the 4th quarter valued at $306,000. Virtus Fund Advisers LLC grew 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 purchasing an additional 2,464 shares in the last quarter. Virtus Investment Advisers Inc. increased its position in shares of Tactile Systems Technology by 74.6% in the fourth quarter. Virtus Investment Advisers Inc. now owns 27,931 shares of the company's stock worth $478,000 after purchasing an additional 11,930 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in Tactile Systems Technology in the fourth quarter valued at about $239,000. 83.43% of the stock is owned by 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.