Nuveen Asset Management LLC Cuts Stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

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

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Tactile Systems Technology by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 1,483,692 shares of the company's stock worth $25,416,000 after purchasing an additional 4,509 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Tactile Systems Technology by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company's stock valued at $15,444,000 after purchasing an additional 67,934 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Tactile Systems Technology by 44.0% during the 4th quarter. Renaissance Technologies LLC now owns 451,100 shares of the company's stock worth $7,727,000 after purchasing an additional 137,900 shares during the period. Northern Trust Corp boosted its holdings in shares of Tactile Systems Technology by 0.7% in the 4th quarter. Northern Trust Corp now owns 205,914 shares of the company's stock worth $3,527,000 after buying an additional 1,371 shares during the last quarter. Finally, Millennium Management LLC bought a new position in Tactile Systems Technology during the fourth quarter valued at about $2,793,000. 83.43% of the stock is owned by institutional investors.

Insider Transactions at Tactile Systems Technology

In related news, Director William W. Burke sold 3,300 shares of the business'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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elaine M. Birkemeyer sold 2,921 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 99,111 shares in the company, valued at $985,163.34. This trade represents a 2.86% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

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

Tactile Systems Technology Stock Performance

TCMD traded up $0.13 during trading hours on Friday, hitting $10.03. The stock had a trading volume of 302,715 shares, compared to its average volume of 267,598. The stock has a market cap of $233.18 million, a PE ratio of 14.33 and a beta of 1.05. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11. The company's fifty day simple moving average is $12.17 and its 200 day simple moving average is $15.06. 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 released its quarterly earnings data on Monday, May 5th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate 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 business had revenue of $61.27 million during the quarter, compared to the consensus estimate of $63.48 million. During the same period last year, the business posted ($0.05) earnings per share. Equities analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

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.