Raymond James Financial Inc. Invests $330,000 in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Raymond James Financial Inc. purchased a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,276 shares of the company’s stock, valued at approximately $330,000. Raymond James Financial Inc. owned 0.08% of Tactile Systems Technology at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Tactile Systems Technology by 8.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 127,175 shares of the company’s stock worth $1,858,000 after purchasing an additional 9,485 shares in the last quarter. FMR LLC lifted its position in Tactile Systems Technology by 28.1% in the 3rd quarter. FMR LLC now owns 79,348 shares of the company’s stock worth $1,159,000 after buying an additional 17,393 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Tactile Systems Technology by 16.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 45,374 shares of the company’s stock worth $663,000 after buying an additional 6,401 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Tactile Systems Technology by 29.4% during the 3rd quarter. Janus Henderson Group PLC now owns 65,316 shares of the company’s stock valued at $954,000 after buying an additional 14,837 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Tactile Systems Technology during the 3rd quarter valued at $163,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Kristie Burns sold 4,830 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $14.65, for a total transaction of $70,759.50. Following the transaction, the vice president now owns 84,008 shares in the company, valued at $1,230,717.20. This represents a 5.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $14.70, for a total transaction of $55,536.60. Following the sale, the chief financial officer now directly owns 104,098 shares in the company, 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. Over the last quarter, insiders have sold 19,546 shares of company stock valued at $285,444. 0.96% of the stock is currently owned by corporate insiders.

Tactile Systems Technology Stock Up 4.6 %

Shares of NASDAQ TCMD opened at $13.59 on Thursday. The business has a fifty day moving average of $14.63 and a two-hundred day moving average of $15.76. 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, Inc. has a 52-week low of $11.12 and a 52-week high of $21.10. The stock has a market cap of $321.62 million, a PE ratio of 19.41 and a beta of 1.21.

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

Analyst Ratings Changes

A number of research firms recently issued reports on TCMD. StockNews.com cut Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 29th. B. Riley lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $18.00 in a report on Wednesday, February 19th.

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.