Tactile Systems Technology, Inc. (NASDAQ:TCMD) Short Interest Down 19.7% in March

Tactile Systems Technology, Inc. (NASDAQ:TCMD) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,180,000 shares, a drop of 19.7% from the March 15th total of 1,470,000 shares. Based on an average daily volume of 300,700 shares, the short-interest ratio is presently 3.9 days.

Insider Buying and Selling

In other Tactile Systems Technology news, VP Kristie Burns sold 2,249 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $14.80, for a total value of $33,285.20. Following the transaction, the vice president now directly owns 53,765 shares of the company’s stock, valued at approximately $795,722. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tactile Systems Technology news, CEO Daniel L. Reuvers sold 6,239 shares of Tactile Systems Technology stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.81, for a total value of $98,638.59. Following the completion of the transaction, the chief executive officer now directly owns 244,112 shares of the company’s stock, valued at approximately $3,859,410.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kristie Burns sold 2,249 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $14.80, for a total value of $33,285.20. Following the completion of the transaction, the vice president now directly owns 53,765 shares of the company’s stock, valued at approximately $795,722. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,520 shares of company stock valued at $268,820. Insiders own 1.40% of the company’s stock.

Institutional Trading of Tactile Systems Technology

Several large investors have recently bought and sold shares of TCMD. Goldman Sachs Group Inc. raised its stake in Tactile Systems Technology by 118.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 230,536 shares of the company’s stock worth $3,297,000 after acquiring an additional 124,814 shares in the last quarter. GSA Capital Partners LLP increased its position in Tactile Systems Technology by 228.3% during the 4th quarter. GSA Capital Partners LLP now owns 36,040 shares of the company’s stock worth $515,000 after purchasing an additional 25,062 shares in the last quarter. Virtus Investment Advisers Inc. bought a new position in Tactile Systems Technology in the 4th quarter valued at approximately $129,000. Barclays PLC boosted its position in Tactile Systems Technology by 81.6% in the fourth quarter. Barclays PLC now owns 65,466 shares of the company’s stock valued at $936,000 after buying an additional 29,425 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Tactile Systems Technology by 33.3% during the fourth quarter. Voya Investment Management LLC now owns 24,559 shares of the company’s stock worth $351,000 after buying an additional 6,138 shares during the last quarter. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Price Performance

TCMD stock opened at $14.78 on Monday. The company’s 50-day moving average price is $15.50 and its two-hundred day moving average price is $13.95. The firm has a market cap of $351.17 million, a P/E ratio of 12.32 and a beta of 1.19. The company has a quick ratio of 2.99, a current ratio of 3.54 and a debt-to-equity ratio of 0.14. Tactile Systems Technology has a 12 month low of $9.69 and a 12 month high of $26.11.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.13 by $0.25. The business had revenue of $77.65 million during the quarter, compared to the consensus estimate of $78.85 million. Tactile Systems Technology had a net margin of 10.39% and a return on equity of 17.08%. During the same period in the previous year, the business earned $0.29 earnings per share. On average, analysts anticipate that Tactile Systems Technology will post 0.56 earnings per share for the current fiscal year.

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.