Allspring Global Investments Holdings LLC Reduces Position in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 78.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,343 shares of the company’s stock after selling 118,044 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Tactile Systems Technology were worth $463,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of TCMD. International Assets Investment Management LLC increased its holdings in Tactile Systems Technology by 1,330.0% in the fourth quarter. International Assets Investment Management LLC now owns 2,860 shares of the company’s stock valued at $41,000 after buying an additional 2,660 shares during the last quarter. Oak Thistle LLC bought a new stake in Tactile Systems Technology in the fourth quarter valued at about $182,000. Pinnacle Associates Ltd. bought a new stake in Tactile Systems Technology in the fourth quarter valued at about $819,000. Riverwater Partners LLC bought a new stake in Tactile Systems Technology in the fourth quarter valued at about $364,000. Finally, Vanguard Group Inc. increased its holdings in Tactile Systems Technology by 0.7% in the third quarter. Vanguard Group Inc. now owns 1,370,403 shares of the company’s stock valued at $19,254,000 after buying an additional 9,863 shares during the last quarter. 83.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tactile Systems Technology

In other news, CEO Daniel L. Reuvers sold 6,239 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $15.81, for a total transaction of $98,638.59. Following the completion of the transaction, the chief executive officer now directly owns 244,112 shares in the company, valued at $3,859,410.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Daniel L. Reuvers sold 5,378 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $14.85, for a total transaction of $79,863.30. Following the sale, the chief executive officer now owns 192,321 shares of the company’s stock, valued at $2,855,966.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Daniel L. Reuvers sold 6,239 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $15.81, for a total value of $98,638.59. Following the sale, the chief executive officer now directly owns 244,112 shares in the company, valued at approximately $3,859,410.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,520 shares of company stock worth $268,820. Company insiders own 0.96% of the company’s stock.

Tactile Systems Technology Stock Down 5.1 %

Shares of Tactile Systems Technology stock opened at $14.27 on Friday. The company has a quick ratio of 2.99, a current ratio of 3.54 and a debt-to-equity ratio of 0.14. The firm has a market cap of $339.06 million, a P/E ratio of 11.89 and a beta of 1.19. Tactile Systems Technology, Inc. has a fifty-two week low of $9.69 and a fifty-two week high of $26.11. The business has a 50-day moving average price of $15.35 and a 200 day moving average price of $14.00.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Tuesday, February 20th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.25. Tactile Systems Technology had a return on equity of 17.08% and a net margin of 10.39%. The company had revenue of $77.65 million during the quarter, compared to the consensus estimate of $78.85 million. During the same period in the previous year, the firm posted $0.29 earnings per share. On average, sell-side analysts forecast that Tactile Systems Technology, Inc. will post 0.56 earnings per share for the current fiscal year.

Tactile Systems Technology Company Profile

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.