Russell Investments Group Ltd. Has $438,000 Stock Holdings in Tactile Systems Technology, Inc. $TCMD

Key Points

• Russell Investments Group Ltd. significantly reduced its stake in Tactile Systems Technology by 67.6% during the first quarter, now holding approximately 0.14% of the company.
• Analysts have mixed views on Tactile Systems Technology, with Wall Street Zen upgrading it to "buy" while Piper Sandler downgraded it to "neutral," setting a new target price of $14.00.
• In recent financial performance, Tactile Systems Technology reported earnings of $0.14 per share, surpassing analyst estimates of $0.09, and generated revenue of $78.91 million.

Russell Investments Group Ltd. reduced its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 67.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,124 shares of the company's stock after selling 69,149 shares during the quarter. Russell Investments Group Ltd. owned 0.14% of Tactile Systems Technology worth $438,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TCMD. Millennium Management LLC acquired a new stake in Tactile Systems Technology in the 4th quarter valued at approximately $2,793,000. Victory Capital Management Inc. acquired a new stake in Tactile Systems Technology in the 1st quarter valued at approximately $1,160,000. Dimensional Fund Advisors LP increased its position in Tactile Systems Technology by 8.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company's stock valued at $15,444,000 after acquiring an additional 67,934 shares during the period. Nuveen LLC acquired a new stake in Tactile Systems Technology in the 1st quarter valued at approximately $783,000. Finally, Bank of America Corp DE increased its position 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 valued at $1,745,000 after acquiring an additional 41,037 shares during the period. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TCMD shares. B. Riley reiterated a "neutral" rating and set a $13.00 price target (up from $12.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 5th. Wall Street Zen upgraded Tactile Systems Technology from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, William Blair upgraded Tactile Systems Technology to a "strong-buy" rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Tactile Systems Technology has a consensus rating of "Hold" and a consensus target price of $13.50.

Tactile Systems Technology Price Performance

Shares of NASDAQ TCMD traded up $0.22 during mid-day trading on Thursday, reaching $13.46. The company had a trading volume of 94,400 shares, compared to its average volume of 273,714. The company has a current ratio of 3.79, a quick ratio of 3.36 and a debt-to-equity ratio of 0.11. The stock has a market cap of $300.02 million, a PE ratio of 21.71 and a beta of 1.04. The company has a 50-day moving average price of $11.28 and a two-hundred day moving average price of $12.00. Tactile Systems Technology, Inc. has a 1-year low of $8.61 and a 1-year high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.14 earnings per share (EPS) 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 analysts' expectations of $73.93 million. Tactile Systems Technology had a return on equity of 7.72% and a net margin of 5.06%. Tactile Systems Technology has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Insider Activity at Tactile Systems Technology

In other news, CEO Sheri Louise Dodd sold 7,762 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $12.36, for a total value of $95,938.32. Following the completion of the sale, the chief executive officer owned 173,479 shares of the company's stock, valued at $2,144,200.44. This trade represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.50% of the stock is currently owned by company insiders.

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.