Koss Olinger Consulting LLC Invests $487,000 in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Key Points

• Koss Olinger Consulting LLC acquired a new stake of 36,874 shares in Tactile Systems Technology, valued at approximately $487,000, representing about 0.16% ownership.
• Tactile Systems Technology's stock opened at $12.28 with a market cap of $273.75 million, and the company reported EPS of $0.14, exceeding analysts' expectations.
• Multiple analysts recently upgraded their ratings for Tactile Systems Technology, with one upgrade to a "strong-buy" rating and an average price target of $13.50 for the stock.

Koss Olinger Consulting LLC bought a new position in Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 36,874 shares of the company's stock, valued at approximately $487,000. Koss Olinger Consulting LLC owned 0.16% of Tactile Systems Technology as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TCMD. GAMMA Investing LLC lifted its position in Tactile Systems Technology by 64,350.0% in the first quarter. GAMMA Investing LLC now owns 2,578 shares of the company's stock valued at $34,000 after purchasing an additional 2,574 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Tactile Systems Technology during the 1st quarter valued at $1,160,000. Arrowstreet Capital Limited Partnership boosted its position in Tactile Systems Technology by 163.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 52,227 shares of the company's stock valued at $895,000 after buying an additional 32,378 shares during the period. Bank of America Corp DE grew its holdings in Tactile Systems Technology by 67.5% in the 4th quarter. Bank of America Corp DE now owns 101,867 shares of the company's stock worth $1,745,000 after acquiring an additional 41,037 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Tactile Systems Technology in the fourth quarter valued at about $2,793,000. 83.43% of the stock is owned by institutional investors.

Insider Activity at Tactile Systems Technology

In other news, CEO Sheri Louise Dodd sold 7,762 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $12.36, for a total value of $95,938.32. Following the sale, the chief executive officer directly 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.50% of the company's stock.

Tactile Systems Technology Stock Down 4.3%

TCMD traded down $0.56 on Thursday, hitting $12.39. The company had a trading volume of 73,360 shares, compared to its average volume of 279,809. The stock has a fifty day simple moving average of $10.41 and a 200-day simple moving average of $12.46. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.79 and a quick ratio of 3.36. The firm has a market capitalization of $276.17 million, a P/E ratio of 19.98 and a beta of 0.96. 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 released its quarterly earnings results on Monday, August 4th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $78.91 million for the quarter, compared to analyst estimates of $73.93 million. Tactile Systems Technology had a return on equity of 7.72% and a net margin of 5.06%. As a group, equities analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Piper Sandler cut Tactile Systems Technology from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $25.00 to $14.00 in a research note on Tuesday, May 6th. William Blair upgraded Tactile Systems Technology to a "strong-buy" rating in a report on Tuesday, August 5th. Wall Street Zen raised Tactile Systems Technology from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, B. Riley reaffirmed a "neutral" rating and issued a $13.00 price target (up previously from $12.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 5th. Four investment 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 stock. Based on data from MarketBeat.com, Tactile Systems Technology currently has an average rating of "Moderate Buy" and a consensus price target of $13.50.

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.