Tactile Systems Technology, Inc. $TCMD Shares Sold by RFG Advisory LLC

RFG Advisory LLC trimmed its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 61.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 20,403 shares of the company’s stock after selling 32,337 shares during the quarter. RFG Advisory LLC’s holdings in Tactile Systems Technology were worth $533,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in shares of Tactile Systems Technology by 1,594.4% in the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock valued at $29,000 after buying an additional 1,993 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Tactile Systems Technology during the 4th quarter valued at $32,000. Quarry LP boosted its stake in shares of Tactile Systems Technology by 302.6% during the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after acquiring an additional 1,743 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Tactile Systems Technology during the 4th quarter worth $36,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Tactile Systems Technology in the 4th quarter worth $37,000. Institutional investors and hedge funds own 83.43% of the company’s stock.

Insider Activity at Tactile Systems Technology

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

Analyst Upgrades and Downgrades

TCMD has been the topic of a number of recent analyst reports. B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $32.00 to $36.00 in a research report on Thursday, May 7th. BTIG Research reissued a “buy” rating and issued a $40.00 price target on shares of Tactile Systems Technology in a research note on Thursday, May 21st. Finally, Weiss Ratings cut Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. One research 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.60.

Tactile Systems Technology Stock Performance

Shares of NASDAQ:TCMD opened at $30.27 on Tuesday. The firm has a 50 day simple moving average of $25.28 and a 200 day simple moving average of $27.12. Tactile Systems Technology, Inc. has a 52 week low of $9.41 and a 52 week high of $37.77. The company has a market cap of $682.89 million, a PE ratio of 34.40 and a beta of 0.83.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Tactile Systems Technology had a return on equity of 9.70% and a net margin of 5.91%.The firm had revenue of $75.27 million for the quarter, compared to analysts’ expectations of $70.57 million. On average, equities analysts predict that Tactile Systems Technology, Inc. will post 1.11 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.