Ameriprise Financial Inc. Decreases Stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Ameriprise Financial Inc. lessened its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 9.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 348,729 shares of the company's stock after selling 37,472 shares during the period. Ameriprise Financial Inc. owned approximately 1.45% of Tactile Systems Technology worth $5,974,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp acquired a new position in shares of Tactile Systems Technology during the 4th quarter worth approximately $39,000. Quarry LP acquired a new position in shares of Tactile Systems Technology during the 4th quarter worth approximately $81,000. 1620 Investment Advisors Inc. acquired a new position in shares of Tactile Systems Technology during the 4th quarter worth approximately $97,000. Legal & General Group Plc grew its holdings in Tactile Systems Technology by 33.2% in the 4th quarter. Legal & General Group Plc now owns 6,257 shares of the company's stock valued at $107,000 after buying an additional 1,558 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in Tactile Systems Technology in the 4th quarter valued at $145,000. Institutional investors and hedge funds own 83.43% of the company's stock.

Insider Activity

In related news, CFO Elaine M. Birkemeyer sold 2,921 shares of Tactile Systems Technology stock in a transaction on Monday, May 12th. The stock was sold at an average price of $9.94, for a total transaction of $29,034.74. Following the transaction, the chief financial officer now directly owns 99,111 shares in the company, valued at approximately $985,163.34. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William W. Burke sold 3,300 shares of Tactile Systems Technology stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $9.67, for a total value of $31,911.00. Following the transaction, the director now owns 48,520 shares in the company, valued at $469,188.40. This trade represents a 6.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Tactile Systems Technology Price Performance

Shares of TCMD traded up $0.20 during midday trading on Wednesday, reaching $9.97. The stock had a trading volume of 235,587 shares, compared to its average volume of 266,257. The company's 50-day moving average is $12.38 and its 200 day moving average is $15.18. Tactile Systems Technology, Inc. has a 12-month low of $8.61 and a 12-month high of $21.10. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $231.67 million, a price-to-earnings ratio of 14.19 and a beta of 1.05.

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

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.