Victory Capital Management Inc. Purchases Shares of 87,736 Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Key Points

• Victory Capital Management Inc. has invested approximately $1.16 million in Tactile Systems Technology, buying 87,736 shares, which accounts for about 0.37% of the company's total shares.
• Tactile Systems Technology reported a loss of $0.13 EPS for the last quarter, missing analysts' expectations, alongside revenues of $61.27 million, which also fell short of projections.
• Analysts have recently downgraded Tactile Systems Technology's stock rating, with Piper Sandler reducing the price target from $25.00 to $14.00 and several firms now giving it a consensus rating of "Hold."

Victory Capital Management Inc. acquired a new position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 87,736 shares of the company's stock, valued at approximately $1,160,000. Victory Capital Management Inc. owned 0.37% of Tactile Systems Technology as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TCMD. GAMMA Investing LLC raised its stake in shares of Tactile Systems Technology by 64,350.0% during the 1st quarter. GAMMA Investing LLC now owns 2,578 shares of the company's stock worth $34,000 after purchasing an additional 2,574 shares during the period. Virtus Fund Advisers LLC grew its holdings in shares of Tactile Systems Technology by 142.0% in the fourth quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company's stock worth $72,000 after purchasing an additional 2,464 shares during the last quarter. Quarry LP purchased a new stake in Tactile Systems Technology in the fourth quarter worth $81,000. Legal & General Group Plc lifted its stake in Tactile Systems Technology by 33.2% in the fourth 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 period. Finally, State of Tennessee Department of Treasury bought a new position in Tactile Systems Technology in the fourth quarter worth $145,000. Institutional investors and hedge funds own 83.43% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TCMD shares. B. Riley upgraded 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 objective for the company from $25.00 to $14.00 in a research report on Tuesday, May 6th. 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.

Insider Activity at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 2,921 shares of Tactile Systems Technology stock in a transaction on Monday, May 12th. The stock was sold at an average price of $9.94, for a total value of $29,034.74. Following the completion of the transaction, the chief financial officer directly owned 99,111 shares in the company, valued at approximately $985,163.34. This trade represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William W. Burke sold 3,300 shares of Tactile Systems Technology stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $9.67, for a total value of $31,911.00. Following the sale, the director directly owned 48,520 shares of the company's stock, valued at $469,188.40. This trade represents a 6.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.50% of the company's stock.

Tactile Systems Technology Stock Down 3.3%

NASDAQ:TCMD traded down $0.33 during mid-day trading on Friday, hitting $9.65. 236,597 shares of the company's stock traded hands, compared to its average volume of 175,501. The company has a fifty day moving average of $10.06 and a 200 day moving average of $12.72. Tactile Systems Technology, Inc. has a twelve month low of $8.61 and a twelve month high of $21.10. The company has a market capitalization of $224.36 million, a P/E ratio of 14.62 and a beta of 0.96. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.99 and a current ratio of 4.52.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The company had revenue of $61.27 million for the quarter, compared to analyst estimates of $63.48 million. Tactile Systems Technology had a return on equity of 8.41% and a net margin of 5.52%. During the same period last year, the business earned ($0.05) earnings per share. On average, analysts forecast that Tactile Systems Technology, Inc. will post 0.7 EPS 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.