Tactile Systems Technology, Inc. (NASDAQ:TCMD) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 23.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 59,000 shares of the company’s stock after selling 18,500 shares during the period. Janney Montgomery Scott LLC’s holdings in Tactile Systems Technology were worth $780,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC lifted its stake in shares of Tactile Systems Technology by 64,350.0% during the first quarter. GAMMA Investing LLC now owns 2,578 shares of the company’s stock worth $34,000 after purchasing an additional 2,574 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Tactile Systems Technology during the 4th quarter valued at about $39,000. Virtus Fund Advisers LLC lifted its position in Tactile Systems Technology by 142.0% during the 4th quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company’s stock worth $72,000 after acquiring an additional 2,464 shares in the last quarter. Quarry LP purchased a new position in Tactile Systems Technology in the 4th quarter worth approximately $81,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in Tactile Systems Technology in the fourth quarter valued at approximately $97,000. Institutional investors and hedge funds own 83.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on TCMD shares. B. Riley raised shares of Tactile Systems Technology to a “hold” rating in a research report on Wednesday, May 7th. Piper Sandler downgraded shares of Tactile Systems Technology from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $25.00 to $14.00 in a research note on Tuesday, May 6th. Finally, Wall Street Zen cut shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, Tactile Systems Technology has a consensus rating of “Hold” and a consensus target price of $16.00.

Tactile Systems Technology Stock Performance

Shares of Tactile Systems Technology stock opened at $10.14 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.99 and a current ratio of 4.52. The firm’s 50-day simple moving average is $10.80 and its 200-day simple moving average is $13.91. 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 $235.76 million, a PE ratio of 15.36 and a beta of 0.95.

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

Insider Activity

In other news, Director William W. Burke sold 3,300 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $9.67, for a total transaction of $31,911.00. Following the completion of the sale, the director owned 48,520 shares in the company, valued at approximately $469,188.40. This represents a 6.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elaine M. Birkemeyer sold 2,921 shares of Tactile Systems Technology 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 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 disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

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.