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Koss Olinger Consulting LLC Takes Position in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Tactile Systems Technology logo with Medical background

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.
  • Want stock alerts on Tactile Systems Technology? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Koss Olinger Consulting LLC purchased a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 36,874 shares of the company's stock, valued at approximately $487,000. Koss Olinger Consulting LLC owned about 0.16% of Tactile Systems Technology at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TCMD. GAMMA Investing LLC lifted its holdings in 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 purchasing an additional 2,574 shares in the last quarter. Virtus Fund Advisers LLC lifted its holdings in Tactile Systems Technology by 142.0% during the 4th quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company's stock worth $72,000 after purchasing an additional 2,464 shares in the last quarter. Quarry LP purchased a new stake in Tactile Systems Technology during the 4th quarter worth about $81,000. Legal & General Group Plc lifted its holdings in Tactile Systems Technology by 33.2% during the 4th 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 in the last quarter. Finally, State of Tennessee Department of Treasury purchased a new stake in Tactile Systems Technology during the 4th quarter worth about $145,000. Hedge funds and other institutional investors own 83.43% of the company's stock.

Tactile Systems Technology Price Performance

Shares of NASDAQ TCMD opened at $12.28 on Friday. The firm has a market capitalization of $273.75 million, a P/E ratio of 19.81 and a beta of 0.96. The company has a quick ratio of 3.99, a current ratio of 3.79 and a debt-to-equity ratio of 0.11. The stock's 50-day simple moving average is $10.26 and its two-hundred day simple moving average is $12.52. Tactile Systems Technology, Inc. has a twelve month low of $8.61 and a twelve month high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.05. The business 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 anticipate that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. B. Riley reissued a "neutral" rating and set a $13.00 price objective (up previously from $12.00) on shares of Tactile Systems Technology in a report on Tuesday, August 5th. William Blair raised 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 report on Saturday. Finally, Piper Sandler lowered Tactile Systems Technology from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $25.00 to $14.00 in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Tactile Systems Technology presently has an average rating of "Moderate Buy" and an average price target of $13.50.

Check Out Our Latest Stock Report on Tactile Systems Technology

Insiders Place Their Bets

In other news, CFO Elaine M. Birkemeyer sold 2,921 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $9.94, for a total transaction of $29,034.74. Following the transaction, the chief financial officer directly owned 99,111 shares in the company, valued at approximately $985,163.34. This represents a 2.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is owned by corporate insiders.

Tactile Systems Technology Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Tactile Systems Technology (NASDAQ:TCMD)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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