Accredited Investors Inc. Sells 20,455 Shares of Tactile Systems Technology, Inc. $TCMD

Accredited Investors Inc. lessened its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 17.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,880 shares of the company’s stock after selling 20,455 shares during the period. Accredited Investors Inc. owned 0.42% of Tactile Systems Technology worth $2,479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. CWA Asset Management Group LLC purchased a new position in Tactile Systems Technology in the 4th quarter worth approximately $1,587,000. Range Financial Group LLC purchased a new position in shares of Tactile Systems Technology during the fourth quarter valued at approximately $1,291,000. Vanguard Group Inc. lifted its position in Tactile Systems Technology by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company’s stock valued at $47,884,000 after purchasing an additional 76,198 shares during the period. LSV Asset Management grew its position in Tactile Systems Technology by 119.8% in the 4th quarter. LSV Asset Management now owns 323,004 shares of the company’s stock worth $9,367,000 after purchasing an additional 176,059 shares during the period. Finally, RFG Advisory LLC purchased a new stake in Tactile Systems Technology during the 4th quarter valued at $1,529,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Stock Up 2.3%

TCMD stock opened at $30.68 on Friday. Tactile Systems Technology, Inc. has a 52 week low of $9.41 and a 52 week high of $37.77. The company has a fifty day simple moving average of $26.26 and a two-hundred day simple moving average of $27.25. The firm has a market capitalization of $692.14 million, a P/E ratio of 34.86 and a beta of 0.79.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The business had revenue of $75.27 million during the quarter, compared to the consensus estimate of $70.57 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. As a group, analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. BTIG Research reaffirmed a “buy” rating and set a $40.00 price target on shares of Tactile Systems Technology in a research report on Thursday, May 21st. B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and increased their price target for the stock from $32.00 to $36.00 in a research report on Thursday, May 7th. Finally, Weiss Ratings lowered Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.60.

Insider Buying and Selling

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 4,631 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $24.49, for a total value of $113,413.19. Following the sale, the chief financial officer owned 130,188 shares in the company, valued at $3,188,304.12. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is owned by company insiders.

About Tactile Systems Technology

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.