Prudential Financial Inc. Sells 66,300 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Prudential Financial Inc. reduced its stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 71.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,775 shares of the company’s stock after selling 66,300 shares during the quarter. Prudential Financial Inc. owned about 0.11% of Tactile Systems Technology worth $459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Jones Financial Companies Lllp bought a new stake in shares of Tactile Systems Technology during the 4th quarter worth $39,000. 1620 Investment Advisors Inc. purchased a new stake in Tactile Systems Technology during the fourth quarter valued at about $97,000. AlphaQuest LLC bought a new stake in Tactile Systems Technology during the fourth quarter worth about $158,000. XTX Topco Ltd bought a new stake in Tactile Systems Technology during the third quarter worth about $163,000. Finally, Retireful LLC purchased a new position in shares of Tactile Systems Technology in the 4th quarter worth about $173,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Insider Buying and Selling at Tactile Systems Technology

In other news, Director Daniel L. Reuvers sold 10,938 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $14.55, for a total value of $159,147.90. Following the sale, the director now directly owns 242,942 shares in the company, valued at approximately $3,534,806.10. This trade represents a 4.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $14.70, for a total value of $55,536.60. Following the transaction, the chief financial officer now owns 104,098 shares of the company’s stock, valued at approximately $1,530,240.60. This represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock valued at $285,444 in the last quarter. Company insiders own 0.96% of the company’s stock.

Tactile Systems Technology Stock Up 4.6 %

TCMD opened at $13.59 on Thursday. Tactile Systems Technology, Inc. has a 12 month low of $11.12 and a 12 month high of $21.10. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average price is $14.63 and its 200-day moving average price is $15.76. The company has a market cap of $321.62 million, a P/E ratio of 19.41 and a beta of 1.21.

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

Analyst Ratings Changes

A number of analysts recently weighed in on the company. StockNews.com downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 29th. B. Riley downgraded shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $18.00 in a research note on Wednesday, February 19th.

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.