Nuveen Asset Management LLC Sells 207,186 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Nuveen Asset Management LLC lowered its position in Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 23.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 678,026 shares of the company's stock after selling 207,186 shares during the quarter. Nuveen Asset Management LLC owned about 2.83% of Tactile Systems Technology worth $11,615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in TCMD. Millennium Management LLC bought a new position in shares of Tactile Systems Technology in the fourth quarter valued at approximately $2,793,000. Norges Bank bought a new position in shares of Tactile Systems Technology in the fourth quarter valued at approximately $2,534,000. Renaissance Technologies LLC boosted its holdings in shares of Tactile Systems Technology by 44.0% in the fourth quarter. Renaissance Technologies LLC now owns 451,100 shares of the company's stock valued at $7,727,000 after acquiring an additional 137,900 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Tactile Systems Technology in the fourth quarter valued at approximately $1,328,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Tactile Systems Technology by 8.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company's stock worth $15,444,000 after buying an additional 67,934 shares in the last quarter. Institutional investors and hedge funds own 83.43% of the company's stock.

Insider Buying and Selling

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

Tactile Systems Technology Trading Up 1.3%

Tactile Systems Technology stock traded up $0.13 during midday trading on Friday, reaching $10.03. The stock had a trading volume of 302,715 shares, compared to its average volume of 267,598. The firm's fifty day simple moving average is $12.17 and its two-hundred day simple moving average is $15.05. Tactile Systems Technology, Inc. has a twelve month low of $8.61 and a twelve month high of $21.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.36 and a quick ratio of 3.80. The firm has a market cap of $233.18 million, a price-to-earnings ratio of 14.33 and a beta of 1.05.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.13) EPS 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 firm 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. Equities analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TCMD. Piper Sandler cut shares of 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 report on Tuesday, May 6th. Wall Street Zen cut shares of Tactile Systems Technology from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, B. Riley upgraded shares of Tactile Systems Technology to a "hold" rating in a report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $16.00.

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.