Tactile Systems Technology Inc . (NASDAQ:TCMD) saw a recent stock sale by one of its top executives, according to the latest filings. Kristie Burns, the Senior Vice President of Marketing & Clinical Affairs, sold 815 shares of the company's common stock. The transactions, carried out on May 6, 2024, amounted to a total of $11,712, with individual share prices ranging from $14.37 to $14.39.
The sale was part of a transaction to cover taxes associated with the settlement of stock units, as noted in the footnotes of the filing. Following this sale, Burns still holds a substantial number of shares in the company, with 62,574 shares remaining in her possession.
Investors who track insider transactions often pay close attention to such filings for insights into executive confidence and company performance. For those interested in the specifics, the executive has pledged to provide full details on the number of shares sold at each separate price upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer.
Tactile Systems Technology, based in Minneapolis, Minnesota, specializes in surgical and medical instruments and apparatus. This recent financial move by a key executive is just one of many transactions that stakeholders and potential investors may consider as they assess the company's stock and its future prospects.
InvestingPro Insights
Amidst the scrutiny of insider transactions at Tactile Systems Technology Inc. (NASDAQ:TCMD), investors are also considering the company's financial health and market performance. According to InvestingPro data, TCMD's market capitalization currently stands at $329.11 million, reflecting the market's valuation of the company.
The company's price-to-earnings (P/E) ratio is at 11.37, offering a glimpse into how investors are valuing earnings at present, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 12.91. This metric can be especially relevant when compared with industry benchmarks. TCMD's revenue growth over the last twelve months as of Q1 2024 was 7.38%, indicating a steady increase in the company's sales.
One of the InvestingPro Tips that may be particularly pertinent to investors is the fact that analysts have revised their earnings upwards for the upcoming period. This suggests a potential improvement in the company's profitability outlook. Additionally, TCMD has been profitable over the last twelve months, which may instill confidence in stakeholders regarding the company's financial performance.
Investors interested in a deeper dive into TCMD's financial metrics and additional insights can explore further with InvestingPro. There are 9 more InvestingPro Tips available, which could provide a more comprehensive understanding of the company's financial health and market position. For those looking to access these insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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