Prudential Financial Inc. Sells 66,300 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Prudential Financial Inc. trimmed its stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 71.2% during the 4th quarter, HoldingsChannel reports. The fund owned 26,775 shares of the company’s stock after selling 66,300 shares during the quarter. Prudential Financial Inc.’s holdings in Tactile Systems Technology were worth $459,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new position in shares of Tactile Systems Technology in the fourth quarter worth approximately $1,328,000. Semanteon Capital Management LP purchased a new position in Tactile Systems Technology in the 4th quarter worth approximately $493,000. Barclays PLC lifted its position in Tactile Systems Technology by 56.7% in the 3rd quarter. Barclays PLC now owns 66,885 shares of the company’s stock valued at $977,000 after acquiring an additional 24,188 shares in the last quarter. Hohimer Wealth Management LLC bought a new position in Tactile Systems Technology in the 3rd quarter valued at approximately $320,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth $330,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

Tactile Systems Technology Price Performance

Shares of TCMD opened at $13.59 on Thursday. The firm has a fifty day simple moving average of $14.63 and a two-hundred day simple moving average of $15.76. The firm has a market cap of $321.62 million, a PE ratio of 19.41 and a beta of 1.21. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11. Tactile Systems Technology, Inc. has a 1-year low of $11.12 and a 1-year high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. The company had revenue of $85.59 million during 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%. On average, equities analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Insider Transactions at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 3,778 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.70, for a total value of $55,536.60. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kristie Burns sold 4,830 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $14.65, for a total value of $70,759.50. Following the sale, the vice president now directly owns 84,008 shares of the company’s stock, valued at $1,230,717.20. This represents a 5.44 % 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. Company insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 29th. B. Riley cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $18.00 in a research note on Wednesday, February 19th.

Tactile Systems Technology Company 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.