Blair William & Co. IL Sells 118,527 Shares of 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 reduced its stake in 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 & Exchange Commission. The fund owned 162,264 shares of the company's stock after selling 118,527 shares during the period. Blair William & Co. IL owned 0.69% of Tactile Systems Technology worth $2,145,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Sterling Capital Management LLC raised its stake in Tactile Systems Technology by 2.8% during the 4th quarter. Sterling Capital Management LLC now owns 25,028 shares of the company's stock worth $429,000 after buying an additional 683 shares during the period. SummerHaven Investment Management LLC raised its position in shares of Tactile Systems Technology by 1.3% during the first quarter. SummerHaven Investment Management LLC now owns 66,220 shares of the company's stock worth $875,000 after purchasing an additional 821 shares during the period. Hohimer Wealth Management LLC raised its position in shares of Tactile Systems Technology by 4.5% during the first quarter. Hohimer Wealth Management LLC now owns 24,035 shares of the company's stock worth $318,000 after purchasing an additional 1,040 shares during the period. Northern Trust Corp grew its position in shares of Tactile Systems Technology by 0.7% in the 4th quarter. Northern Trust Corp now owns 205,914 shares of the company's stock valued at $3,527,000 after purchasing an additional 1,371 shares during the period. Finally, Legal & General Group Plc grew its position in shares of 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 purchasing an additional 1,558 shares during the period. 83.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Piper Sandler lowered shares of Tactile Systems Technology from an "overweight" rating to a "neutral" rating and cut their price target for the company from $25.00 to $14.00 in a research note on Tuesday, May 6th. Wall Street Zen raised shares of Tactile Systems Technology from a "hold" rating to a "buy" rating in a research report on Saturday. B. Riley reiterated a "neutral" rating and set a $13.00 target price (up previously from $12.00) on shares of Tactile Systems Technology in a report on Tuesday, August 5th. Finally, William Blair raised Tactile Systems Technology to a "strong-buy" rating in a research note on Tuesday, August 5th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $13.50.

Insider Transactions at Tactile Systems Technology

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 2,921 shares of the business'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 owned 99,111 shares of the company's stock, valued at $985,163.34. The trade was a 2.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.50% of the company's stock.

Tactile Systems Technology Stock Down 1.3%

Shares of NASDAQ TCMD traded down $0.16 during midday trading on Friday, reaching $12.28. The company's stock had a trading volume of 225,255 shares, compared to its average volume of 255,382. The stock has a 50 day simple moving average of $10.26 and a 200-day simple moving average of $12.49. The company has a current ratio of 3.79, a quick ratio of 3.36 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $273.72 million, a price-to-earnings ratio of 19.81 and a beta of 0.96. Tactile Systems Technology, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $21.10.

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 (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.72%. The firm had revenue of $78.91 million for the quarter, compared to analyst estimates of $73.93 million. Equities research analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current 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.