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

Tidal Investments LLC raised its position in 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 (SEC). The firm owned 56,882 shares of the company's stock after purchasing an additional 30,925 shares during the quarter. Tidal Investments LLC owned 0.24% of Tactile Systems Technology worth $974,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new position in shares of Tactile Systems Technology during the 4th quarter worth approximately $39,000. Quarry LP acquired a new position in shares of Tactile Systems Technology during the fourth quarter worth $81,000. 1620 Investment Advisors Inc. acquired a new position in shares of Tactile Systems Technology in the fourth quarter valued at approximately $97,000. Legal & General Group Plc grew its position in shares of Tactile Systems Technology by 33.2% in the 4th quarter. Legal & General Group Plc now owns 6,257 shares of the company's stock valued at $107,000 after buying an additional 1,558 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Tactile Systems Technology during the 4th quarter valued at about $145,000. Institutional investors and hedge funds own 83.43% of the company's stock.

Tactile Systems Technology Stock Up 2.0%

NASDAQ:TCMD traded up $0.20 on Friday, reaching $10.10. 70,427 shares of the stock traded hands, compared to its average volume of 266,803. The company's fifty day simple moving average is $12.24 and its 200 day simple moving average is $15.11. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11. Tactile Systems Technology, Inc. has a 12 month low of $8.61 and a 12 month high of $21.10. The company has a market capitalization of $234.80 million, a price-to-earnings ratio of 14.45 and a beta of 1.05.

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 return on equity of 9.37% and a net margin of 5.79%. The company had revenue of $61.27 million for the quarter, compared to the consensus estimate of $63.48 million. During the same quarter in the prior year, the company posted ($0.05) EPS. Equities analysts predict that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William W. Burke sold 3,300 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $9.67, for a total transaction of $31,911.00. Following the completion of the sale, the director now owns 48,520 shares in the company, valued at $469,188.40. This trade represents a 6.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elaine M. Birkemeyer sold 2,921 shares of Tactile Systems Technology stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $9.94, for a total transaction of $29,034.74. Following the sale, the chief financial officer now owns 99,111 shares of the company's stock, valued at approximately $985,163.34. This represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

TCMD has been the subject of a number of recent research reports. B. Riley raised Tactile Systems Technology to a "hold" rating in a report on Wednesday, May 7th. Wall Street Zen cut Tactile Systems Technology from a "buy" rating 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 lowered their price target for the company from $25.00 to $14.00 in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $16.00.

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.