Blair William & Co. IL Trims Holdings in Tactile Systems Technology, Inc. $TCMD

Key Points

• Blair William & Co. IL reduced its stake in Tactile Systems Technology by 42.8%, selling 69,471 shares and holding 92,793 shares at the end of the second quarter.
• Multiple institutional investors, including GAMMA Investing LLC and EP Wealth Advisors LLC, have made significant investments in Tactile Systems Technology, indicating strong interest in the company.
• Tactile Systems Technology reported earnings of $0.14 per share for the most recent quarter, surpassing analysts' expectations and guiding for increased earnings in FY 2025.

Blair William & Co. IL decreased its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 42.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 92,793 shares of the company's stock after selling 69,471 shares during the period. Blair William & Co. IL owned about 0.40% of Tactile Systems Technology worth $941,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings 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 worth $34,000 after acquiring an additional 2,574 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of Tactile Systems Technology in the 1st quarter worth approximately $138,000. Algert Global LLC bought a new stake in shares of Tactile Systems Technology in the 1st quarter worth approximately $160,000. Virtus Advisers LLC bought a new stake in shares of Tactile Systems Technology in the 1st quarter worth approximately $198,000. Finally, Trexquant Investment LP bought a new stake in shares of Tactile Systems Technology in the 1st quarter worth approximately $232,000. Hedge funds and other institutional investors own 83.43% of the company's stock.

Tactile Systems Technology Trading Up 0.3%

Shares of TCMD stock opened at $14.69 on Friday. Tactile Systems Technology, Inc. has a 52-week low of $8.61 and a 52-week 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 firm has a market capitalization of $327.44 million, a PE ratio of 23.69 and a beta of 1.04. The stock has a fifty day simple moving average of $13.61 and a two-hundred day simple moving average of $11.98.

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, topping 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 during the quarter, compared to analyst estimates of $73.93 million. Tactile Systems Technology has set its FY 2025 guidance at EPS. On average, analysts predict that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Insider Activity at Tactile Systems Technology

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 7,762 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $12.36, for a total transaction of $95,938.32. Following the completion of the transaction, the chief executive officer owned 173,479 shares of the company's stock, valued at $2,144,200.44. This represents a 4.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TCMD. William Blair raised Tactile Systems Technology to a "strong-buy" rating in a research report on Tuesday, August 5th. Weiss Ratings restated a "hold (c)" rating on shares of Tactile Systems Technology in a report on Wednesday, October 8th. B. Riley restated a "neutral" rating and issued a $13.00 price objective (up from $12.00) on shares of Tactile Systems Technology in a report on Tuesday, August 5th. Lake Street Capital began coverage on shares of Tactile Systems Technology in a report on Friday, October 3rd. They issued a "buy" rating and a $23.50 price objective for the company. Finally, Wall Street Zen upgraded shares of Tactile Systems Technology from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Tactile Systems Technology presently has a consensus rating of "Hold" and an average target price of $16.83.

About Tactile Systems Technology

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.

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