Tidal Investments LLC Grows Stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Tidal Investments LLC lifted its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 119.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,882 shares of the company's stock after purchasing an additional 30,925 shares during the quarter. Tidal Investments LLC owned approximately 0.24% of Tactile Systems Technology worth $974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC lifted its stake in Tactile Systems Technology by 12.7% during the fourth quarter. SG Americas Securities LLC now owns 12,032 shares of the company's stock worth $206,000 after purchasing an additional 1,354 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Tactile Systems Technology in the 4th quarter worth approximately $1,328,000. Rhumbline Advisers lifted its position in shares of Tactile Systems Technology by 1.6% during the 4th quarter. Rhumbline Advisers now owns 38,033 shares of the company's stock worth $651,000 after buying an additional 581 shares during the period. Principal Financial Group Inc. boosted its stake in Tactile Systems Technology by 9.9% in the 4th quarter. Principal Financial Group Inc. now owns 20,401 shares of the company's stock valued at $349,000 after buying an additional 1,836 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in Tactile Systems Technology in the 4th quarter valued at $39,000. 83.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Tactile Systems Technology

In related news, Director William W. Burke sold 3,300 shares of Tactile Systems Technology stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $9.67, for a total transaction of $31,911.00. Following the sale, the director now directly owns 48,520 shares in the company, valued at $469,188.40. The trade was a 6.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Elaine M. Birkemeyer sold 2,921 shares of the business's 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 sale, the chief financial officer now directly owns 99,111 shares in the company, valued at $985,163.34. The trade was a 2.86% decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Tactile Systems Technology Stock Performance

Tactile Systems Technology stock traded up $0.35 during midday trading on Tuesday, hitting $9.77. The company's stock had a trading volume of 372,982 shares, compared to its average volume of 266,332. The company has a 50-day moving average price of $12.46 and a two-hundred day moving average price of $15.22. Tactile Systems Technology, Inc. has a 1-year low of $8.61 and a 1-year high of $21.10. The company has a market cap of $227.13 million, a price-to-earnings ratio of 13.96 and a beta of 1.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.36 and a quick ratio of 3.80.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last issued 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 5.79% and a return on equity of 9.37%. The business had revenue of $61.27 million during the quarter, compared to analyst estimates of $63.48 million. During the same period in the prior year, the business posted ($0.05) EPS. As a group, sell-side analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Tactile Systems Technology 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.