Mackenzie Financial Corp Purchases 7,697 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Mackenzie Financial Corp boosted its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 21.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,992 shares of the company’s stock after purchasing an additional 7,697 shares during the period. Mackenzie Financial Corp owned about 0.19% of Tactile Systems Technology worth $582,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Tactile Systems Technology by 64,350.0% during the first quarter. GAMMA Investing LLC now owns 2,578 shares of the company’s stock valued at $34,000 after buying an additional 2,574 shares during the period. Victory Capital Management Inc. bought a new position in Tactile Systems Technology in the 1st quarter valued at $1,160,000. Arrowstreet Capital Limited Partnership increased its stake in Tactile Systems Technology by 163.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 52,227 shares of the company’s stock worth $895,000 after purchasing an additional 32,378 shares during the period. Bank of America Corp DE increased its stake in Tactile Systems Technology by 67.5% in the fourth quarter. Bank of America Corp DE now owns 101,867 shares of the company’s stock worth $1,745,000 after purchasing an additional 41,037 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Tactile Systems Technology during the fourth quarter worth $2,793,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

Tactile Systems Technology Trading Down 4.1%

NASDAQ TCMD opened at $12.02 on Thursday. Tactile Systems Technology, Inc. has a one year low of $8.61 and a one year high of $21.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.99 and a current ratio of 3.79. The company has a market capitalization of $267.93 million, a price-to-earnings ratio of 19.39 and a beta of 0.96. The company’s 50-day simple moving average is $10.12 and its two-hundred day simple moving average is $12.63.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $78.91 million for the quarter, compared to analyst estimates of $73.93 million. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.72%. Equities analysts forecast that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at Tactile Systems Technology

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 2,921 shares of Tactile Systems Technology stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $9.94, for a total value of $29,034.74. Following the transaction, the chief financial officer owned 99,111 shares in the company, valued at $985,163.34. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

TCMD has been the topic of a number of research analyst reports. William Blair upgraded shares of Tactile Systems Technology to a “strong-buy” rating in a report on Tuesday. Wall Street Zen lowered shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. B. Riley reaffirmed a “neutral” rating and set a $13.00 price target (up previously from $12.00) on shares of Tactile Systems Technology in a research note on Tuesday. Finally, Piper Sandler cut Tactile Systems Technology from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $25.00 to $14.00 in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.50.

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.