Kopp Family Office LLC trimmed its stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD – Free Report) by 33.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,009 shares of the company’s stock after selling 42,320 shares during the period. Tactile Systems Technology accounts for approximately 1.5% of Kopp Family Office LLC’s holdings, making the stock its 12th largest position. Kopp Family Office LLC owned about 0.37% of Tactile Systems Technology worth $2,221,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in Tactile Systems Technology by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock valued at $29,000 after purchasing an additional 1,993 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Tactile Systems Technology in the fourth quarter worth about $32,000. Quarry LP lifted its position 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 valued at $32,000 after buying an additional 1,743 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Tactile Systems Technology during the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC bought a new position in shares of Tactile Systems Technology during the 4th quarter valued at approximately $37,000. 83.43% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. BTIG Research restated a “buy” rating and set a $40.00 target price on shares of Tactile Systems Technology in a research note on Thursday, May 21st. Weiss Ratings lowered shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Finally, B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $32.00 to $36.00 in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Tactile Systems Technology has a consensus rating of “Moderate Buy” and a consensus target price of $38.60.
Insider Transactions at Tactile Systems Technology
In other news, CFO Elaine M. Birkemeyer sold 4,631 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $24.49, for a total transaction 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 filing with the SEC, 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 Stock Up 3.9%
NASDAQ TCMD opened at $27.49 on Thursday. Tactile Systems Technology, Inc. has a twelve month low of $9.41 and a twelve month high of $37.77. The business has a 50-day moving average price of $25.02 and a 200-day moving average price of $27.09. The firm has a market cap of $620.17 million, a price-to-earnings ratio of 31.24 and a beta of 0.83.
Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) last issued its earnings results on Monday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. The business had revenue of $75.27 million for the quarter, compared to the consensus estimate of $70.57 million. Research analysts expect that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.
Tactile Systems Technology 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.
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