Tactile Systems Technology, Inc. $TCMD Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 56.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,500 shares of the company’s stock after selling 33,500 shares during the quarter. Janney Montgomery Scott LLC owned 0.11% of Tactile Systems Technology worth $259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TCMD. Vanguard Group Inc. lifted its stake in shares of Tactile Systems Technology by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,501,006 shares of the company’s stock worth $19,843,000 after acquiring an additional 17,314 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Tactile Systems Technology by 1.0% in the first quarter. Deutsche Bank AG now owns 623,033 shares of the company’s stock worth $8,236,000 after acquiring an additional 6,421 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its stake in shares of Tactile Systems Technology by 34.3% in the first quarter. Punch & Associates Investment Management Inc. now owns 282,000 shares of the company’s stock worth $3,728,000 after acquiring an additional 72,000 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Tactile Systems Technology by 149.1% in the first quarter. Acadian Asset Management LLC now owns 196,270 shares of the company’s stock worth $2,594,000 after acquiring an additional 117,480 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Tactile Systems Technology by 2.1% in the first quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company’s stock worth $2,471,000 after acquiring an additional 3,898 shares in the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

Analyst Upgrades and Downgrades

TCMD has been the topic of several recent analyst reports. Wall Street Zen upgraded Tactile Systems Technology from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. B. Riley reiterated a “neutral” rating and issued a $13.00 price target (up previously from $12.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 5th. Lake Street Capital initiated coverage on Tactile Systems Technology in a research note on Friday, October 3rd. They issued a “buy” rating and a $23.50 price target on the stock. William Blair upgraded Tactile Systems Technology to a “strong-buy” rating in a research note on Tuesday, August 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tactile Systems Technology in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.83.

Insider Activity at Tactile Systems Technology

In other news, CEO Sheri Louise Dodd sold 7,762 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $12.36, for a total transaction of $95,938.32. Following the completion of the transaction, the chief executive officer directly owned 173,479 shares of the company’s stock, valued at approximately $2,144,200.44. This represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.50% of the company’s stock.

Tactile Systems Technology Trading Up 0.6%

Shares of NASDAQ TCMD opened at $14.61 on Tuesday. The stock’s 50 day moving average price is $13.70 and its two-hundred day moving average price is $11.97. Tactile Systems Technology, Inc. has a 52-week low of $8.61 and a 52-week high of $21.10. The stock has a market capitalization of $325.66 million, a P/E ratio of 23.56 and a beta of 1.04. The company has a quick ratio of 3.36, a current ratio of 3.79 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD) last announced 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. Tactile Systems Technology had a return on equity of 7.72% and a net margin of 5.06%.The firm had revenue of $78.91 million for the quarter, compared to analysts’ expectations of $73.93 million. Tactile Systems Technology has set its FY 2025 guidance at EPS. On average, analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 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.