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Tactile Systems Technology, Inc. (NASDAQ:TCMD) Shares Bought by Bank of America Corp DE

Tactile Systems Technology logo with Medical background

Bank of America Corp DE boosted its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 67.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,867 shares of the company's stock after purchasing an additional 41,037 shares during the quarter. Bank of America Corp DE owned about 0.42% of Tactile Systems Technology worth $1,745,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TCMD. SG Americas Securities LLC raised its stake in Tactile Systems Technology by 12.7% during the fourth quarter. SG Americas Securities LLC now owns 12,032 shares of the company's stock valued at $206,000 after purchasing an additional 1,354 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Tactile Systems Technology during the fourth quarter valued at $1,328,000. Rhumbline Advisers raised its stake in Tactile Systems Technology by 1.6% during the fourth quarter. Rhumbline Advisers now owns 38,033 shares of the company's stock valued at $651,000 after purchasing an additional 581 shares in the last quarter. Principal Financial Group Inc. increased its position in Tactile Systems Technology by 9.9% during the fourth quarter. Principal Financial Group Inc. now owns 20,401 shares of the company's stock valued at $349,000 after acquiring an additional 1,836 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new position in Tactile Systems Technology during the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 83.43% of the company's stock.

Insider Activity at Tactile Systems Technology

In other Tactile Systems Technology news, Director William W. Burke sold 3,300 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $9.67, for a total transaction of $31,911.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Elaine M. Birkemeyer sold 2,921 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $985,163.34. This represents a 2.86% 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 insiders.

Analyst Ratings Changes

A number of research firms have weighed in on TCMD. Piper Sandler cut shares of Tactile Systems Technology from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $25.00 to $14.00 in a research report on Tuesday, May 6th. B. Riley upgraded shares of Tactile Systems Technology to a "hold" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen cut shares of Tactile Systems Technology from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $16.00.

Check Out Our Latest Research Report on TCMD

Tactile Systems Technology Stock Performance

Shares of Tactile Systems Technology stock traded down $0.03 during midday trading on Thursday, hitting $10.11. The company had a trading volume of 246,306 shares, compared to its average volume of 264,825. The stock has a market cap of $235.04 million, a price-to-earnings ratio of 14.44 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. The company has a fifty day simple moving average of $11.98 and a 200 day simple moving average of $14.95. Tactile Systems Technology, Inc. has a 12-month low of $8.61 and a 12-month high of $21.10.

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

About Tactile Systems Technology

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Tactile Systems Technology (NASDAQ:TCMD)

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