Jane Street Group LLC Purchases 34,846 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Jane Street Group LLC raised its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 161.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,403 shares of the company's stock after buying an additional 34,846 shares during the period. Jane Street Group LLC owned about 0.24% of Tactile Systems Technology worth $966,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new stake in shares of Tactile Systems Technology during the fourth quarter worth about $39,000. Quarry LP bought a new stake in shares of Tactile Systems Technology during the fourth quarter valued at approximately $81,000. 1620 Investment Advisors Inc. bought a new stake in shares of Tactile Systems Technology during the fourth quarter valued at approximately $97,000. Legal & General Group Plc boosted its holdings in Tactile Systems Technology by 33.2% in the fourth quarter. Legal & General Group Plc now owns 6,257 shares of the company's stock worth $107,000 after purchasing an additional 1,558 shares during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new stake in Tactile Systems Technology in the fourth quarter worth approximately $145,000. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TCMD. Piper Sandler cut shares of Tactile Systems Technology from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $25.00 to $14.00 in a research note on Tuesday, May 6th. Wall Street Zen cut shares of Tactile Systems Technology from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, B. Riley upgraded shares of Tactile Systems Technology to a "hold" rating in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Tactile Systems Technology presently has an average rating of "Hold" and a consensus price target of $16.00.

Tactile Systems Technology Stock Performance

Shares of NASDAQ:TCMD opened at $9.81 on Friday. The company has a market capitalization of $228.06 million, a price-to-earnings ratio of 14.01 and a beta of 1.05. Tactile Systems Technology, Inc. has a 12 month low of $8.61 and a 12 month high of $21.10. The firm's 50-day moving average is $12.63 and its 200 day moving average is $15.28. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $61.27 million for the quarter, compared to the consensus estimate of $63.48 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Research analysts predict that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Insider Activity at Tactile Systems Technology

In other Tactile Systems Technology news, VP Kristie Burns sold 4,830 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $14.65, for a total value of $70,759.50. Following the completion of the sale, the vice president now directly owns 84,008 shares of the company's stock, valued at $1,230,717.20. The trade was a 5.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William W. Burke sold 3,300 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $9.67, for a total transaction of $31,911.00. Following the completion of the sale, the director now directly owns 48,520 shares of the company's stock, valued at approximately $469,188.40. This trade represents a 6.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,767 shares of company stock worth $346,390. Insiders own 2.50% of the company's stock.

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.

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