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

Tactile Systems Technology, Inc. (NASDAQ:TCMD) was the recipient of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 2,480,000 shares, an increase 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 presently 7.9 days.

Tactile Systems Technology Stock Up 0.6 %

NASDAQ:TCMD traded up $0.08 on Friday, hitting $14.29. The stock had a trading volume of 236,510 shares, compared to its average volume of 295,241. The business’s fifty day moving average is $16.98 and its 200 day moving average is $15.74. The company has a market cap of $337.03 million, a PE ratio of 20.41 and a beta of 1.20. 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 has a 52 week low of $11.12 and a 52 week high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share (EPS) for the quarter, topping 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 business had revenue of $85.59 million for the quarter, compared to analyst estimates of $85.39 million. On average, equities research analysts expect that Tactile Systems Technology will post 0.7 EPS for the current fiscal year.

Insider Activity

In related news, CFO Elaine M. Birkemeyer sold 3,778 shares of the company’s 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 in the company, valued at $1,530,240.60. This represents a 3.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel L. Reuvers sold 10,938 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.55, for a total value of $159,147.90. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,546 shares of company stock worth $285,444. 0.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 4,509 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Tactile Systems Technology by 8.1% during 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 during the last quarter. Wasatch Advisors LP increased its position in shares of Tactile Systems Technology by 9.8% during 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 during the last quarter. Royce & Associates LP increased its position 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 acquiring an additional 14,780 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Tactile Systems Technology by 1.5% during 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 during the last quarter. Institutional investors own 83.43% of the company’s stock.

Analysts Set New Price Targets

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

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.