Perkins Capital Management Inc. Has $313,000 Stock Holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Key Points

• Perkins Capital Management Inc. has decreased its stake in Tactile Systems Technology by 62.0%, now holding 23,700 shares valued at $313,000 after selling 38,750 shares.
• Recent analyst ratings suggest a shift in sentiment, with Wall Street Zen and Piper Sandler downgrading their ratings, while B. Riley upgraded to a "hold," indicating mixed outlooks for the stock.
• Tactile Systems Technology reported an earnings miss, with a loss of ($0.13) per share compared to analysts' expectations of ($0.07) during their latest quarterly earnings report.

Perkins Capital Management Inc. trimmed its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 62.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,700 shares of the company's stock after selling 38,750 shares during the period. Perkins Capital Management Inc. owned approximately 0.10% of Tactile Systems Technology worth $313,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its position in shares of Tactile Systems Technology by 2.8% during the fourth quarter. Sterling Capital Management LLC now owns 25,028 shares of the company's stock valued at $429,000 after purchasing an additional 683 shares during the period. SummerHaven Investment Management LLC lifted its position in Tactile Systems Technology by 1.3% in the first quarter. SummerHaven Investment Management LLC now owns 66,220 shares of the company's stock worth $875,000 after purchasing an additional 821 shares during the period. Hohimer Wealth Management LLC lifted its position in Tactile Systems Technology by 4.5% in the first quarter. Hohimer Wealth Management LLC now owns 24,035 shares of the company's stock worth $318,000 after purchasing an additional 1,040 shares during the period. Northern Trust Corp lifted its position in Tactile Systems Technology by 0.7% in the fourth quarter. Northern Trust Corp now owns 205,914 shares of the company's stock worth $3,527,000 after purchasing an additional 1,371 shares during the period. Finally, Legal & General Group Plc lifted its position 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 period. 83.43% of the stock is owned by institutional investors.

Tactile Systems Technology Price Performance

NASDAQ:TCMD traded down $0.08 during trading hours on Thursday, reaching $10.07. The company had a trading volume of 164,008 shares, compared to its average volume of 275,377. The stock has a 50-day moving average of $10.05 and a two-hundred day moving average of $12.86. Tactile Systems Technology, Inc. has a one year low of $8.61 and a one year high of $21.10. The firm has a market capitalization of $234.11 million, a PE ratio of 15.25 and a beta of 0.95. The company has a quick ratio of 3.99, a current ratio of 4.52 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). Tactile Systems Technology had a net margin of 5.52% and a return on equity of 8.41%. The business had revenue of $61.27 million during the quarter, compared to analyst estimates of $63.48 million. During the same quarter last year, the business posted ($0.05) earnings per share. Analysts forecast that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Insider Buying and Selling at Tactile Systems Technology

In other news, CFO Elaine M. Birkemeyer sold 2,921 shares of the company's stock in a transaction on 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 owned 99,111 shares of the company's stock, valued at $985,163.34. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William W. Burke sold 3,300 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $9.67, for a total value of $31,911.00. Following the transaction, the director owned 48,520 shares of the company's stock, valued at $469,188.40. The trade was a 6.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

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

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.