Ameriprise Financial Inc. Sells 37,472 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

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

A number of other large investors have also added to or reduced their stakes in the company. Jane Street Group LLC grew its holdings in Tactile Systems Technology by 161.6% in the 4th quarter. Jane Street Group LLC now owns 56,403 shares of the company's stock worth $966,000 after acquiring an additional 34,846 shares during the last quarter. Northern Trust Corp grew its holdings in Tactile Systems Technology by 0.7% in the 4th quarter. Northern Trust Corp now owns 205,914 shares of the company's stock worth $3,527,000 after acquiring an additional 1,371 shares during the last quarter. Quarry LP bought a new stake in Tactile Systems Technology in the 4th quarter worth $81,000. Price T Rowe Associates Inc. MD grew its holdings in Tactile Systems Technology by 11.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,008 shares of the company's stock worth $343,000 after acquiring an additional 2,006 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Tactile Systems Technology during the 4th quarter valued at about $145,000. Institutional investors own 83.43% of the company's stock.

Tactile Systems Technology Stock Up 0.6%

Shares of Tactile Systems Technology stock traded up $0.06 on Thursday, reaching $9.90. The stock had a trading volume of 327,632 shares, compared to its average volume of 267,569. The company has a 50 day moving average price of $12.24 and a 200 day moving average price of $15.11. The stock has a market capitalization of $230.16 million, a P/E ratio of 14.14 and a beta of 1.05. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11. 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 data 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). The firm had revenue of $61.27 million during the quarter, compared to analyst estimates of $63.48 million. Tactile Systems Technology had a return on equity of 9.37% and a net margin of 5.79%. During the same quarter last year, the company posted ($0.05) EPS. As a group, equities research analysts forecast that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Piper Sandler lowered shares of Tactile Systems Technology from an "overweight" rating to a "neutral" rating and cut their target price for the company from $25.00 to $14.00 in a research note on Tuesday, May 6th. Wall Street Zen cut shares of Tactile Systems Technology from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, B. Riley raised shares of Tactile Systems Technology to a "hold" rating in a report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently 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.