Bank of New York Mellon Corp Cuts Stock Position in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Bank of New York Mellon Corp lessened its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 3.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 157,980 shares of the company’s stock after selling 5,623 shares during the quarter. Bank of New York Mellon Corp’s holdings in Tactile Systems Technology were worth $2,706,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC lifted its holdings in Tactile Systems Technology by 28.1% during the 3rd quarter. FMR LLC now owns 79,348 shares of the company’s stock worth $1,159,000 after buying an additional 17,393 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Tactile Systems Technology by 9.8% during the third quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock worth $10,624,000 after acquiring an additional 64,684 shares during the period. Principal Financial Group Inc. increased its position in shares of Tactile Systems Technology by 9.9% during the fourth quarter. Principal Financial Group Inc. now owns 20,401 shares of the company’s stock worth $349,000 after acquiring an additional 1,836 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Tactile Systems Technology in the fourth quarter valued at $1,328,000. Finally, Geode Capital Management LLC boosted its holdings in Tactile Systems Technology by 1.5% in the third quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock valued at $8,164,000 after purchasing an additional 8,422 shares during the period. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Price Performance

Tactile Systems Technology stock opened at $13.69 on Friday. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $15.97 and a 200-day simple moving average of $15.79. The stock has a market cap of $322.88 million, a P/E ratio of 19.56 and a beta of 1.24. Tactile Systems Technology, Inc. has a 12-month low of $11.12 and a 12-month high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. The company had revenue of $85.59 million for the quarter, compared to analysts’ expectations of $85.39 million. Tactile Systems Technology had a return on equity of 9.37% and a net margin of 5.79%. Equities analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Daniel L. Reuvers sold 10,938 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $14.55, for a total value of $159,147.90. Following the completion of the sale, the director now directly owns 242,942 shares of the company’s stock, valued at approximately $3,534,806.10. The trade was a 4.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $14.70, for a total value of $55,536.60. Following the completion of the sale, the chief financial officer now directly owns 104,098 shares of the company’s stock, valued at approximately $1,530,240.60. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock worth $285,444 over the last 90 days. 0.96% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. B. Riley downgraded Tactile Systems Technology from a “buy” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $18.00 in a report on Wednesday, February 19th. StockNews.com lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th.

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.