Tactile Systems Technology, Inc. $TCMD Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Tactile Systems Technology, Inc. by 22.0%, now holding 99,175 shares valued at approximately $1.31 million.
• Research firms have mixed views on TCMD, with William Blair rating it a "strong-buy", while Piper Sandler downgraded it to "neutral" with a price target cut from $25.00 to $14.00.
• Tactile Systems Technology reported a quarterly earnings per share of $0.14, surpassing analyst expectations, and had revenues of $78.91 million, exceeding estimates of $73.93 million.

Charles Schwab Investment Management Inc. lowered its stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 22.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,175 shares of the company's stock after selling 28,000 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.42% of Tactile Systems Technology worth $1,311,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TCMD. Vanguard Group Inc. grew its holdings in Tactile Systems Technology by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,501,006 shares of the company's stock valued at $19,843,000 after purchasing an additional 17,314 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Tactile Systems Technology by 21.2% in the 1st quarter. Mackenzie Financial Corp now owns 43,992 shares of the company's stock valued at $582,000 after purchasing an additional 7,697 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Tactile Systems Technology in the 1st quarter valued at $1,160,000. Hohimer Wealth Management LLC grew its stake in shares of Tactile Systems Technology by 4.5% during the 1st quarter. Hohimer Wealth Management LLC now owns 24,035 shares of the company's stock valued at $318,000 after buying an additional 1,040 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Tactile Systems Technology by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 163,283 shares of the company's stock valued at $2,159,000 after buying an additional 5,303 shares during the period. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

Tactile Systems Technology Stock Up 1.4%

Shares of NASDAQ:TCMD traded up $0.18 during mid-day trading on Thursday, hitting $13.42. 152,339 shares of the company traded hands, compared to its average volume of 274,102. The firm's 50 day simple moving average is $11.28 and its 200 day simple moving average is $12.00. The firm has a market cap of $299.13 million, a P/E ratio of 21.65 and a beta of 1.04. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 3.79. Tactile Systems Technology, Inc. has a 52-week low of $8.61 and a 52-week high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $78.91 million during the quarter, compared to the consensus estimate of $73.93 million. Tactile Systems Technology has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. William Blair raised Tactile Systems Technology to a "strong-buy" rating in a research 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, August 9th. Finally, B. Riley reaffirmed a "neutral" rating and issued a $13.00 price objective (up from $12.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Tactile Systems Technology has an average rating of "Hold" and a consensus price target of $13.50.

Insider Transactions 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 shares were sold at an average price of $12.36, for a total transaction of $95,938.32. Following the sale, the chief executive officer owned 173,479 shares of the company's stock, valued at $2,144,200.44. The trade was a 4.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.50% of the stock is owned by company insiders.

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.