Royce & Associates LP Sells 65,917 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Royce & Associates LP decreased its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 547,062 shares of the company’s stock after selling 65,917 shares during the quarter. Royce & Associates LP owned approximately 2.28% of Tactile Systems Technology worth $9,371,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Jones Financial Companies Lllp bought a new position in shares of Tactile Systems Technology in the fourth quarter valued at about $39,000. AlphaQuest LLC bought a new position in shares of Tactile Systems Technology in the fourth quarter worth about $158,000. XTX Topco Ltd acquired a new position in shares of Tactile Systems Technology during the third quarter worth approximately $163,000. Retireful LLC bought a new stake in shares of Tactile Systems Technology during the fourth quarter valued at approximately $173,000. Finally, Victory Capital Management Inc. bought a new position in Tactile Systems Technology in the 3rd quarter worth approximately $180,000. Institutional investors and hedge funds own 83.43% of the company’s stock.

Insider Activity at Tactile Systems Technology

In other Tactile Systems Technology news, Director Daniel L. Reuvers sold 10,938 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 242,942 shares of the company’s stock, valued at approximately $3,534,806.10. This represents a 4.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kristie Burns sold 4,830 shares of Tactile Systems Technology stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.65, for a total transaction of $70,759.50. Following the transaction, the vice president now directly owns 84,008 shares in the company, valued at approximately $1,230,717.20. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock worth $285,444 in the last ninety days. Company insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TCMD. StockNews.com lowered Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. B. Riley lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $18.00 in a research report on Wednesday, February 19th.

Tactile Systems Technology Price Performance

TCMD opened at $13.66 on Wednesday. The company has a fifty day moving average price of $16.12 and a two-hundred day moving average price of $15.82. The firm has a market capitalization of $322.17 million, a PE ratio of 19.51 and a beta of 1.24. Tactile Systems Technology, Inc. has a 52 week low of $11.12 and a 52 week high of $21.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.80 and a current ratio of 4.36.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.09. Tactile Systems Technology had a return on equity of 9.37% and a net margin of 5.79%. The business had revenue of $85.59 million during the quarter, compared to analysts’ expectations of $85.39 million. As a group, analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

About Tactile Systems Technology

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.