Rice Hall James & Associates LLC Sells 47,651 Shares of Tactile Systems Technology, Inc. $TCMD

Rice Hall James & Associates LLC lessened its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 26.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,676 shares of the company’s stock after selling 47,651 shares during the period. Rice Hall James & Associates LLC owned about 0.60% of Tactile Systems Technology worth $1,850,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Oxford Asset Management LLP bought a new stake in Tactile Systems Technology during the 2nd quarter worth approximately $124,000. Pinnacle Wealth Management Advisory Group LLC bought a new stake in Tactile Systems Technology during the second quarter worth $134,000. EP Wealth Advisors LLC bought a new stake in Tactile Systems Technology during the first quarter worth $138,000. Trexquant Investment LP purchased a new stake in Tactile Systems Technology in the 1st quarter valued at $232,000. Finally, Cresset Asset Management LLC lifted its stake in Tactile Systems Technology by 14.3% during the 2nd quarter. Cresset Asset Management LLC now owns 22,894 shares of the company’s stock valued at $232,000 after acquiring an additional 2,858 shares in the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TCMD. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Monday, December 22nd. Zacks Research upgraded shares of Tactile Systems Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Lake Street Capital lifted their target price on shares of Tactile Systems Technology from $23.50 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $20.00 target price (up from $14.00) on shares of Tactile Systems Technology in a report on Tuesday, November 4th. Finally, Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Tactile Systems Technology has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Tactile Systems Technology Stock Up 1.0%

TCMD opened at $29.66 on Friday. The stock has a market cap of $662.60 million, a price-to-earnings ratio of 38.52 and a beta of 0.93. Tactile Systems Technology, Inc. has a twelve month low of $8.61 and a twelve month high of $30.24. The company’s 50-day moving average price is $24.01 and its two-hundred day moving average price is $16.26.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.20. The company had revenue of $85.76 million during the quarter, compared to analyst estimates of $79.31 million. Tactile Systems Technology had a net margin of 5.83% and a return on equity of 8.84%. As a group, sell-side analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, headquartered in Plymouth, Minnesota, is a medical device company specializing in the design, manufacture and marketing of home-use pneumatic compression therapy systems for the treatment of lymphedema and other chronic edema-related conditions. Using proprietary software and patented pump technologies, the company’s platforms are designed to improve patient outcomes through sequential pressure treatment that promotes fluid mobilization and enhanced lymphatic function.

At the core of Tactile Systems’ product portfolio is the Flexitouch® system, a programmable pneumatic pump and garment system approved for home use, and the Aria® device, which features an intuitive touchscreen interface and advanced garment design.