Blair William & Co. IL Has $2.15 Million Stock Position in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Key Points

• Blair William & Co. IL reduced its stake in Tactile Systems Technology by 42.2%, now holding about 0.69% of the company, valued at $2.14 million.
• Several large investors, including Mackenzie Financial Corp and Victory Capital Management Inc., adjusted their positions in Tactile Systems Technology during the first quarter, indicating increased interest in the stock.
• Analysts have mixed ratings for Tactile Systems Technology, with Wall Street Zen upgrading it to a "buy" while Piper Sandler downgraded it and lowered the target price from $25.00 to $14.00.

Blair William & Co. IL lowered its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 42.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,264 shares of the company's stock after selling 118,527 shares during the period. Blair William & Co. IL owned approximately 0.69% of Tactile Systems Technology worth $2,145,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TCMD. GAMMA Investing LLC increased its position in shares of Tactile Systems Technology by 64,350.0% during the 1st quarter. GAMMA Investing LLC now owns 2,578 shares of the company's stock valued at $34,000 after purchasing an additional 2,574 shares during the period. Virtus Fund Advisers LLC increased its position in shares of Tactile Systems Technology by 142.0% during the 4th quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company's stock valued at $72,000 after purchasing an additional 2,464 shares during the period. Quarry LP acquired a new position in shares of Tactile Systems Technology during the 4th quarter valued at $81,000. Legal & General Group Plc increased its position in shares of Tactile Systems Technology by 33.2% during the 4th quarter. Legal & General Group Plc now owns 6,257 shares of the company's stock valued at $107,000 after purchasing an additional 1,558 shares during the period. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Tactile Systems Technology during the 4th quarter valued at $145,000. Institutional investors own 83.43% of the company's stock.

Wall Street Analyst Weigh In

TCMD has been the topic of a number of recent research reports. B. Riley restated a "neutral" rating and issued a $13.00 target price (up from $12.00) on shares of Tactile Systems Technology in a report on Tuesday, August 5th. William Blair upgraded Tactile Systems Technology to a "strong-buy" rating in a report on Tuesday, August 5th. Wall Street Zen upgraded Tactile Systems Technology from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Piper Sandler cut Tactile Systems Technology from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $25.00 to $14.00 in a report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tactile Systems Technology currently has a consensus rating of "Moderate Buy" and an average target price of $13.50.

Insider Buying and Selling at Tactile Systems Technology

In related news, CEO Sheri Louise Dodd sold 7,762 shares of Tactile Systems Technology stock in a transaction on Friday, August 8th. The stock was sold at an average price of $12.36, for a total transaction of $95,938.32. Following the completion of the sale, the chief executive officer owned 173,479 shares of the company's stock, valued at approximately $2,144,200.44. This trade represents a 4.28% 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. Corporate insiders own 2.50% of the company's stock.

Tactile Systems Technology Stock Up 1.7%

Shares of TCMD stock traded up $0.22 on Wednesday, reaching $12.79. 103,055 shares of the company's stock traded hands, compared to its average volume of 279,915. Tactile Systems Technology, Inc. has a 12-month low of $8.61 and a 12-month high of $21.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 3.79. The company has a market capitalization of $285.00 million, a P/E ratio of 20.61 and a beta of 0.96. The business's 50 day moving average price is $10.35 and its two-hundred day moving average price is $12.45.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. Tactile Systems Technology had a return on equity of 7.72% and a net margin of 5.06%. The business had revenue of $78.91 million for the quarter, compared to the consensus estimate of $73.93 million. On average, equities analysts forecast that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

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.