Rice Hall James & Associates LLC Has $2.88 Million Stock Position in Tactile Systems Technology, Inc. $TCMD

Rice Hall James & Associates LLC decreased its position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 25.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,314 shares of the company’s stock after selling 34,362 shares during the period. Rice Hall James & Associates LLC owned about 0.44% of Tactile Systems Technology worth $2,880,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Tactile Systems Technology by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company’s stock valued at $47,884,000 after acquiring an additional 76,198 shares in the last quarter. Paradigm Capital Management Inc. NY grew its stake in shares of Tactile Systems Technology by 5.9% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock valued at $16,413,000 after purchasing an additional 89,600 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Tactile Systems Technology by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,191,207 shares of the company’s stock valued at $16,486,000 after purchasing an additional 24,001 shares during the period. Federated Hermes Inc. grew its stake in shares of Tactile Systems Technology by 19.4% in the 4th quarter. Federated Hermes Inc. now owns 645,408 shares of the company’s stock valued at $18,717,000 after purchasing an additional 104,648 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Tactile Systems Technology by 0.3% in the 4th quarter. Deutsche Bank AG now owns 578,669 shares of the company’s stock valued at $16,781,000 after purchasing an additional 1,482 shares during the period. Institutional investors and hedge funds own 83.43% of the company’s stock.

Analyst Upgrades and Downgrades

TCMD has been the topic of several analyst reports. Piper Sandler upped their price objective on Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. B. Riley Financial upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their price objective for the company from $32.00 to $36.00 in a research note on Thursday, May 7th. Lake Street Capital set a $40.00 price objective on Tactile Systems Technology and gave the company a “buy” rating in a research note on Wednesday, February 18th. BTIG Research reiterated a “buy” rating and issued a $40.00 price objective on shares of Tactile Systems Technology in a research note on Thursday, May 21st. 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 investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.60.

Insider Buying and Selling

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 130,188 shares in the company, valued at $3,188,304.12. This represents a 3.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.

Tactile Systems Technology Price Performance

NASDAQ TCMD opened at $26.43 on Wednesday. The firm has a market cap of $596.16 million, a PE ratio of 30.03 and a beta of 0.83. Tactile Systems Technology, Inc. has a one year low of $9.41 and a one year high of $37.77. The stock’s 50 day simple moving average is $24.72 and its 200 day simple moving average is $27.07.

Tactile Systems Technology (NASDAQ:TCMD) last released 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 for the quarter, compared to the consensus estimate of $70.57 million. Tactile Systems Technology had a return on equity of 9.70% and a net margin of 5.91%. As a group, equities analysts expect that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current year.

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.