Bank of America Corp DE Raises Stock Position in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Bank of America Corp DE raised its stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 67.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,867 shares of the company's stock after buying an additional 41,037 shares during the period. Bank of America Corp DE owned about 0.42% of Tactile Systems Technology worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in TCMD. SG Americas Securities LLC boosted its position in Tactile Systems Technology by 12.7% in the 4th quarter. SG Americas Securities LLC now owns 12,032 shares of the company's stock valued at $206,000 after buying an additional 1,354 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Tactile Systems Technology in the 4th quarter worth approximately $1,328,000. Rhumbline Advisers lifted its position in shares of Tactile Systems Technology by 1.6% in the 4th quarter. Rhumbline Advisers now owns 38,033 shares of the company's stock worth $651,000 after purchasing an additional 581 shares during the period. Principal Financial Group Inc. lifted its position in shares of Tactile Systems Technology by 9.9% in the 4th quarter. Principal Financial Group Inc. now owns 20,401 shares of the company's stock worth $349,000 after purchasing an additional 1,836 shares during the period. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Tactile Systems Technology in the 4th quarter worth approximately $39,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tactile Systems Technology

In other news, CFO Elaine M. Birkemeyer sold 2,921 shares of Tactile Systems Technology stock in a transaction on Monday, May 12th. The shares were sold at an average price of $9.94, for a total transaction of $29,034.74. Following the completion of the sale, 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 filing with the SEC, 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 stock was sold at an average price of $9.67, for a total transaction of $31,911.00. Following the sale, the director now owns 48,520 shares of the company's stock, valued at $469,188.40. The trade was 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 corporate insiders.

Tactile Systems Technology Stock Down 0.7%

NASDAQ:TCMD traded down $0.07 during midday trading on Friday, reaching $10.04. 255,940 shares of the stock traded hands, compared to its average volume of 264,753. Tactile Systems Technology, Inc. has a 12-month low of $8.61 and a 12-month high of $21.10. The business has a 50-day moving average of $11.85 and a two-hundred day moving average of $14.87. 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 stock has a market capitalization of $233.41 million, a PE ratio of 14.34 and a beta of 0.94.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.13) EPS 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 firm had revenue of $61.27 million for the quarter, compared to analysts' expectations of $63.48 million. During the same period in the previous year, the company earned ($0.05) EPS. On average, equities analysts forecast that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Tactile Systems Technology Company 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.