Tocqueville Asset Management L.P. Sells 60,000 Shares of Tactile Systems Technology, Inc. $TCMD

Key Points

• Tocqueville Asset Management L.P. has decreased its stake in Tactile Systems Technology by 22.5%, selling 60,000 shares during the first quarter, leaving them with a total of 206,700 shares.
• Despite the decrease by Tocqueville, several other institutional investors, including Vanguard Group and Dimensional Fund Advisors, have increased their holdings in the company.
• Analyst ratings on Tactile Systems Technology vary, with some analysts upgrading the company to a "strong-buy," while others maintain a more cautious "neutral" stance.

Tocqueville Asset Management L.P. lessened its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 22.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 206,700 shares of the company's stock after selling 60,000 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 0.89% of Tactile Systems Technology worth $2,733,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. SummerHaven Investment Management LLC boosted its stake in shares of Tactile Systems Technology by 1.3% in the 1st quarter. SummerHaven Investment Management LLC now owns 66,220 shares of the company's stock valued at $875,000 after purchasing an additional 821 shares during the last quarter. Hohimer Wealth Management LLC boosted its stake in Tactile Systems Technology by 4.5% during the 1st quarter. Hohimer Wealth Management LLC now owns 24,035 shares of the company's stock worth $318,000 after acquiring an additional 1,040 shares during the last quarter. Northern Trust Corp boosted its stake in Tactile Systems Technology by 0.7% during the 4th quarter. Northern Trust Corp now owns 205,914 shares of the company's stock worth $3,527,000 after acquiring an additional 1,371 shares during the last quarter. Legal & General Group Plc boosted its stake in Tactile Systems Technology by 33.2% during the 4th quarter. Legal & General Group Plc now owns 6,257 shares of the company's stock worth $107,000 after acquiring an additional 1,558 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Tactile Systems Technology by 11.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,008 shares of the company's stock worth $343,000 after acquiring an additional 2,006 shares during the last quarter. Institutional investors own 83.43% of the company's stock.

Insider Buying and Selling at Tactile Systems Technology

In related news, CEO Sheri Louise Dodd sold 7,762 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $12.36, for a total value of $95,938.32. Following the completion of the transaction, the chief executive officer directly owned 173,479 shares of the company's stock, valued at approximately $2,144,200.44. This trade represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company's stock.

Tactile Systems Technology Stock Up 4.2%

TCMD stock traded up $0.53 during mid-day trading on Friday, hitting $13.23. 192,645 shares of the company were exchanged, compared to its average volume of 269,642. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 3.79. Tactile Systems Technology, Inc. has a 1-year low of $8.61 and a 1-year high of $21.10. The firm has a market cap of $294.90 million, a P/E ratio of 21.34 and a beta of 0.96. The firm's 50 day simple moving average is $10.78 and its 200 day simple moving average is $12.22.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.72%. The company had revenue of $78.91 million for the quarter, compared to the consensus estimate of $73.93 million. Tactile Systems Technology has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TCMD. William Blair raised shares of Tactile Systems Technology to a "strong-buy" rating in a research note on Tuesday, August 5th. B. Riley reissued a "neutral" rating and set a $13.00 price objective (up previously from $12.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 5th. Wall Street Zen raised shares of Tactile Systems Technology from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Piper Sandler lowered shares of Tactile Systems Technology from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $25.00 to $14.00 in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $13.50.

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.