Norges Bank Buys New Position in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Norges Bank purchased a new position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the 4th quarter, HoldingsChannel reports. The firm purchased 147,900 shares of the company’s stock, valued at approximately $2,534,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in shares of Tactile Systems Technology by 8.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 127,175 shares of the company’s stock worth $1,858,000 after acquiring an additional 9,485 shares in the last quarter. FMR LLC grew its stake in Tactile Systems Technology by 28.1% during the third quarter. FMR LLC now owns 79,348 shares of the company’s stock worth $1,159,000 after purchasing an additional 17,393 shares during the period. BNP Paribas Financial Markets grew its stake in Tactile Systems Technology by 16.4% during the third quarter. BNP Paribas Financial Markets now owns 45,374 shares of the company’s stock worth $663,000 after purchasing an additional 6,401 shares during the period. Janus Henderson Group PLC increased its holdings in Tactile Systems Technology by 29.4% in the third quarter. Janus Henderson Group PLC now owns 65,316 shares of the company’s stock worth $954,000 after purchasing an additional 14,837 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Tactile Systems Technology in the third quarter valued at approximately $163,000. Institutional investors own 83.43% of the company’s stock.

Insider Buying and Selling

In other Tactile Systems Technology news, Director Daniel L. Reuvers sold 10,938 shares of Tactile Systems Technology stock in a transaction on Monday, February 24th. The shares were sold at an average price of $14.55, for a total transaction of $159,147.90. Following the transaction, the director now directly owns 242,942 shares of the company’s stock, valued at $3,534,806.10. The trade was a 4.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.70, for a total transaction of $55,536.60. Following the completion of the sale, the chief financial officer now owns 104,098 shares of the company’s stock, valued at approximately $1,530,240.60. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock worth $285,444 in the last quarter. Insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

TCMD has been the topic of a number of research reports. StockNews.com downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 29th. B. Riley lowered shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $18.00 in a report on Wednesday, February 19th.

Tactile Systems Technology Trading Down 1.0 %

NASDAQ TCMD opened at $13.27 on Friday. Tactile Systems Technology, Inc. has a 52 week low of $11.12 and a 52 week high of $21.10. The business has a 50 day moving average price of $14.47 and a 200-day moving average price of $15.75. 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 has a market cap of $314.05 million, a price-to-earnings ratio of 18.96 and a beta of 1.21.

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

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.