Rice Hall James & Associates LLC Sells 34,362 Shares of Tactile Systems Technology, Inc. $TCMD

Rice Hall James & Associates LLC cut its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 25.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,314 shares of the company’s stock after selling 34,362 shares during the period. Rice Hall James & Associates LLC’s holdings in Tactile Systems Technology were worth $2,880,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Verition Fund Management LLC acquired a new position in Tactile Systems Technology during the 4th quarter worth $1,292,000. Next Century Growth Investors LLC acquired a new position in Tactile Systems Technology during the 4th quarter worth $11,309,000. Barclays PLC lifted its holdings in Tactile Systems Technology by 26.2% during the 4th quarter. Barclays PLC now owns 53,235 shares of the company’s stock worth $1,544,000 after buying an additional 11,037 shares in the last quarter. Marshall Wace LLP acquired a new position in Tactile Systems Technology during the 4th quarter worth $7,700,000. Finally, First Trust Advisors LP lifted its holdings in Tactile Systems Technology by 45.3% during the 4th quarter. First Trust Advisors LP now owns 16,282 shares of the company’s stock worth $472,000 after buying an additional 5,078 shares in the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

Tactile Systems Technology Stock Up 0.3%

TCMD stock opened at $26.43 on Wednesday. The business’s fifty day moving average is $24.72 and its 200-day moving average is $27.07. The company has a market cap of $596.16 million, a P/E ratio of 30.03 and a beta of 0.83. Tactile Systems Technology, Inc. has a twelve month low of $9.41 and a twelve month high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $75.27 million during the quarter, compared to analyst estimates of $70.57 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. Research analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TCMD has been the topic of several research reports. Lake Street Capital set a $40.00 price objective on Tactile Systems Technology and gave the stock a “buy” rating in a report on Wednesday, February 18th. B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $32.00 to $36.00 in a report on Thursday, May 7th. Piper Sandler upped their price objective on Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. BTIG Research reaffirmed a “buy” rating and set a $40.00 price objective on shares of Tactile Systems Technology in a report on Thursday, May 21st. Finally, Weiss Ratings downgraded Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.60.

Insider Buying and Selling at Tactile Systems Technology

In other news, CFO Elaine M. Birkemeyer sold 4,631 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $24.49, for a total value of $113,413.19. Following the transaction, the chief financial officer owned 130,188 shares of the company’s stock, valued at $3,188,304.12. This represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is currently owned by company insiders.

Tactile Systems Technology Profile

Tactile Systems Technology, Inc, headquartered in Plymouth, Minnesota, is a medical device company specializing in the design, manufacture and marketing of home-use pneumatic compression therapy systems for the treatment of lymphedema and other chronic edema-related conditions. Using proprietary software and patented pump technologies, the company’s platforms are designed to improve patient outcomes through sequential pressure treatment that promotes fluid mobilization and enhanced lymphatic function.

At the core of Tactile Systems’ product portfolio is the Flexitouch® system, a programmable pneumatic pump and garment system approved for home use, and the Aria® device, which features an intuitive touchscreen interface and advanced garment design.