Deutsche Bank AG Sells 272,258 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Deutsche Bank AG lessened its stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 30.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 616,612 shares of the company's stock after selling 272,258 shares during the quarter. Deutsche Bank AG owned about 2.57% of Tactile Systems Technology worth $10,563,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TCMD. Jones Financial Companies Lllp purchased a new stake in shares of Tactile Systems Technology in the fourth quarter valued at $39,000. Quarry LP purchased a new stake in Tactile Systems Technology during the 4th quarter worth $81,000. 1620 Investment Advisors Inc. acquired a new position in shares of Tactile Systems Technology during the fourth quarter worth about $97,000. Legal & General Group Plc boosted its position in shares of Tactile Systems Technology by 33.2% in the fourth quarter. Legal & General Group Plc now owns 6,257 shares of the company's stock worth $107,000 after buying an additional 1,558 shares during the period. Finally, State of Tennessee Department of Treasury purchased a new position in Tactile Systems Technology in the 4th quarter worth approximately $145,000. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

Tactile Systems Technology Trading Up 0.1%

Shares of NASDAQ:TCMD traded up $0.01 during midday trading on Thursday, reaching $9.86. The company had a trading volume of 29,417 shares, compared to its average volume of 265,364. The company has a fifty day simple moving average of $12.70 and a two-hundred day simple moving average of $15.32. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.80 and a current ratio of 4.36. The firm has a market cap of $229.13 million, a price-to-earnings ratio of 14.10 and a beta of 1.05. Tactile Systems Technology, Inc. has a 1-year low of $8.61 and a 1-year high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. The business had revenue of $61.27 million for the quarter, compared to analysts' expectations of $63.48 million. During the same quarter in the prior year, the firm posted ($0.05) EPS. Research analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Insider Activity

In other news, Director Daniel L. Reuvers sold 10,938 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $14.55, for a total transaction of $159,147.90. Following the transaction, the director now owns 242,942 shares in the company, valued at $3,534,806.10. This represents a 4.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of Tactile Systems Technology stock in a transaction on Monday, February 24th. The shares were 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 of the company's stock, valued at approximately $1,530,240.60. The trade was a 3.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,767 shares of company stock worth $346,390 in the last three months. 2.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TCMD. B. Riley raised shares of Tactile Systems Technology to a "hold" rating in a report on Wednesday, May 7th. Wall Street Zen lowered shares of Tactile Systems Technology from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Piper Sandler lowered shares of Tactile Systems Technology from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $25.00 to $14.00 in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $16.00.

Tactile Systems Technology 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.