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

Tactile Systems Technology, Inc. (NASDAQ:TCMD) was the recipient of 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 company’s shares are sold short. Based on an average daily trading volume, of 274,800 shares, the days-to-cover ratio is presently 7.5 days.

Insider Activity at Tactile Systems Technology

In related news, Director Daniel L. Reuvers sold 10,938 shares of the business’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 in the company, valued at approximately $3,534,806.10. The trade was a 4.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $14.70, for a total value of $55,536.60. Following the sale, the chief financial officer now owns 104,098 shares in the company, valued at approximately $1,530,240.60. This trade represents a 3.50 % 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. 0.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TCMD. Victory Capital Management Inc. acquired a new position in shares of Tactile Systems Technology during the 3rd quarter worth about $180,000. Royce & Associates LP boosted its position in shares of Tactile Systems Technology by 2.5% in the 3rd quarter. Royce & Associates LP now owns 612,979 shares of the company’s stock valued at $8,956,000 after purchasing an additional 14,780 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Tactile Systems Technology by 8.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 127,175 shares of the company’s stock valued at $1,858,000 after purchasing an additional 9,485 shares during the period. FMR LLC boosted its position in shares of Tactile Systems Technology by 28.1% in the 3rd quarter. FMR LLC now owns 79,348 shares of the company’s stock valued at $1,159,000 after purchasing an additional 17,393 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Tactile Systems Technology by 16.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 45,374 shares of the company’s stock valued at $663,000 after purchasing an additional 6,401 shares during the period. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Trading Up 1.0 %

NASDAQ:TCMD opened at $13.66 on Wednesday. The stock has a 50-day simple moving average of $16.12 and a 200-day simple moving average of $15.82. The stock has a market cap of $322.17 million, a P/E ratio of 19.51 and a beta of 1.24. 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 quick ratio of 3.80 and a current ratio of 4.36.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data 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. The business had revenue of $85.59 million during the quarter, compared to analysts’ expectations of $85.39 million. Tactile Systems Technology had a return on equity of 9.37% and a net margin of 5.79%. As a group, analysts anticipate that Tactile Systems Technology will post 0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on TCMD shares. B. Riley downgraded Tactile Systems Technology from a “buy” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $18.00 in a report on Wednesday, February 19th. StockNews.com downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th.

About Tactile Systems Technology

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.