Corebridge Financial Inc. Has $201,000 Stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Corebridge Financial Inc. reduced its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,760 shares of the company’s stock after selling 889 shares during the quarter. Corebridge Financial Inc.’s holdings in Tactile Systems Technology were worth $201,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TCMD. Charles Schwab Investment Management Inc. raised its position in Tactile Systems Technology by 8.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 127,175 shares of the company’s stock valued at $1,858,000 after buying an additional 9,485 shares during the period. FMR LLC raised its holdings in shares of Tactile Systems Technology by 28.1% during the 3rd quarter. FMR LLC now owns 79,348 shares of the company’s stock valued at $1,159,000 after purchasing an additional 17,393 shares in the last quarter. Janus Henderson Group PLC increased its position in Tactile Systems Technology by 29.4% during the third quarter. Janus Henderson Group PLC now owns 65,316 shares of the company’s stock worth $954,000 after buying an additional 14,837 shares during the last quarter. XTX Topco Ltd bought a new position in Tactile Systems Technology during the third quarter valued at about $163,000. Finally, Barclays PLC lifted its position in shares of Tactile Systems Technology by 56.7% in the third quarter. Barclays PLC now owns 66,885 shares of the company’s stock worth $977,000 after buying an additional 24,188 shares during the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Insider Activity at Tactile Systems Technology

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 3,778 shares of the 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 transaction, the chief financial officer now directly owns 104,098 shares in the company, valued at $1,530,240.60. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $159,147.90. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,546 shares of company stock worth $285,444. 0.96% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Tactile Systems Technology Price Performance

Shares of Tactile Systems Technology stock opened at $13.27 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.36 and a quick ratio of 3.80. The company has a market cap of $314.05 million, a PE ratio of 18.96 and a beta of 1.21. The firm has a fifty day moving average price of $14.47 and a two-hundred day moving average price of $15.75. Tactile Systems Technology, Inc. has a fifty-two week low of $11.12 and a fifty-two week high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.09. The business had revenue of $85.59 million for the quarter, compared to the consensus estimate of $85.39 million. Tactile Systems Technology had a return on equity of 9.37% and a net margin of 5.79%. Analysts expect 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.