Northern Trust Corp Acquires 1,371 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Northern Trust Corp lifted its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 0.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 205,914 shares of the company’s stock after purchasing an additional 1,371 shares during the period. Northern Trust Corp owned 0.86% of Tactile Systems Technology worth $3,527,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC lifted its stake in shares of Tactile Systems Technology by 12.7% during the fourth quarter. SG Americas Securities LLC now owns 12,032 shares of the company’s stock valued at $206,000 after acquiring an additional 1,354 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Tactile Systems Technology during the fourth quarter valued at $1,328,000. Rhumbline Advisers lifted its stake in shares of Tactile Systems Technology by 1.6% during the fourth quarter. Rhumbline Advisers now owns 38,033 shares of the company’s stock valued at $651,000 after acquiring an additional 581 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Tactile Systems Technology by 9.9% during the fourth quarter. Principal Financial Group Inc. now owns 20,401 shares of the company’s stock valued at $349,000 after acquiring an additional 1,836 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in shares of Tactile Systems Technology during the fourth quarter valued at $39,000. Institutional investors own 83.43% of the company’s stock.

Insider Buying and Selling at Tactile Systems Technology

In other Tactile Systems Technology news, Director Daniel L. Reuvers sold 10,938 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $14.55, for a total value of $159,147.90. Following the completion of the sale, the director now directly owns 242,942 shares in the company, valued at $3,534,806.10. This represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 value of $55,536.60. Following the completion of the sale, the chief financial officer now owns 104,098 shares of the company’s stock, valued at $1,530,240.60. This trade represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,767 shares of company stock valued at $346,390. 2.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. B. Riley raised Tactile Systems Technology to a “hold” rating in a research note on Wednesday, May 7th. Piper Sandler lowered Tactile Systems Technology from an “overweight” rating to a “neutral” rating and cut their price target for the company from $25.00 to $14.00 in a research note on Tuesday, May 6th. Finally, Wall Street Zen lowered Tactile Systems Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $16.00.

Tactile Systems Technology Trading Down 4.0%

NASDAQ:TCMD opened at $9.42 on Friday. Tactile Systems Technology, Inc. has a 1-year low of $8.61 and a 1-year high of $21.10. The business’s 50-day moving average price is $12.54 and its two-hundred day moving average price is $15.26. 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 firm has a market capitalization of $219.00 million, a price-to-earnings ratio of 13.46 and a beta of 1.05.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, May 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. The company had revenue of $61.27 million during the quarter, compared to analyst estimates of $63.48 million. During the same period in the previous year, the company posted ($0.05) EPS. On average, equities analysts expect that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Tactile Systems Technology 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.