CWA Asset Management Group LLC Sells 42,844 Shares of Tactile Systems Technology, Inc. $TCMD

Key Points

• CWA Asset Management Group reduced its Tactile Systems Technology stake by 59.5%, selling 42,844 shares and retaining 29,155 shares worth approximately $650,000.
• Institutional ownership remains high at 83.43%, with BlackRock, First Light Asset Management, Jupiter Topco, and others recently establishing or increasing positions.
• Tactile Systems reported quarterly earnings of $0.34 per share, beating estimates of $0.14, while analysts maintain a “Moderate Buy” consensus and a $37.60 target price.

CWA Asset Management Group LLC trimmed its stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 59.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,155 shares of the company's stock after selling 42,844 shares during the period. CWA Asset Management Group LLC owned 0.13% of Tactile Systems Technology worth $650,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Tactile Systems Technology in the second quarter worth about $56,733,000. First Light Asset Management LLC bought a new stake in Tactile Systems Technology in the 2nd quarter worth approximately $13,775,000. Renaissance Technologies LLC raised its holdings in shares of Tactile Systems Technology by 32.3% during the 1st quarter. Renaissance Technologies LLC now owns 510,897 shares of the company's stock worth $13,350,000 after acquiring an additional 124,597 shares in the last quarter. Jupiter Topco LLC purchased a new stake in shares of Tactile Systems Technology during the 2nd quarter worth approximately $11,831,000. Finally, Punch & Associates Investment Management Inc. purchased a new stake in shares of Tactile Systems Technology during the 2nd quarter worth approximately $9,381,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

Tactile Systems Technology Trading Up 1.1%

Shares of NASDAQ:TCMD opened at $23.54 on Friday. The company has a market capitalization of $533.18 million, a price-to-earnings ratio of 21.56 and a beta of 0.82. Tactile Systems Technology, Inc. has a 12 month low of $14.79 and a 12 month high of $37.77. The firm's 50-day moving average is $22.73 and its 200 day moving average is $25.14.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.20. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. The company had revenue of $85.70 million for the quarter, compared to analyst estimates of $85.52 million. As a group, equities analysts forecast that Tactile Systems Technology, Inc. will post 1.10 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TCMD. Weiss Ratings raised shares of Tactile Systems Technology from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, October 13th. Wall Street Zen cut shares of Tactile Systems Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 17th. Finally, BTIG Research decreased their price target on shares of Tactile Systems Technology from $39.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, October 12th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.60.

Insider Buying and Selling

In related news, CEO Sheri Dodd sold 10,978 shares of Tactile Systems Technology stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the completion of the sale, the chief executive officer owned 232,907 shares in the company, valued at $6,856,782.08. This trade represents a 4.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is owned by corporate insiders.

Tactile Systems Technology Company Profile

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.

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