Tactile Systems Technology, Inc. (NASDAQ:TCMD) Shares Sold by Perkins Capital Management Inc.

Perkins Capital Management Inc. reduced its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 9.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 62,450 shares of the company’s stock after selling 6,550 shares during the period. Perkins Capital Management Inc. owned approximately 0.26% of Tactile Systems Technology worth $1,070,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of TCMD. Jones Financial Companies Lllp purchased a new position in shares of Tactile Systems Technology during the fourth quarter worth about $39,000. 1620 Investment Advisors Inc. acquired a new stake in Tactile Systems Technology during the 4th quarter worth approximately $97,000. AlphaQuest LLC acquired a new stake in Tactile Systems Technology during the 4th quarter worth approximately $158,000. XTX Topco Ltd purchased a new position in shares of Tactile Systems Technology in the 3rd quarter valued at approximately $163,000. Finally, Retireful LLC acquired a new position in shares of Tactile Systems Technology in the fourth quarter valued at approximately $173,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Elaine M. Birkemeyer sold 3,778 shares of Tactile Systems Technology stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.70, for a total transaction of $55,536.60. Following the completion of the transaction, the chief financial officer now directly owns 104,098 shares of the company’s stock, valued at approximately $1,530,240.60. The trade was a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel L. Reuvers sold 10,938 shares of the company’s stock in a transaction on Monday, February 24th. The shares were 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 trade represents a 4.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,546 shares of company stock worth $285,444. 0.96% of the stock is owned by company insiders.

Tactile Systems Technology Stock Down 2.9 %

TCMD opened at $13.29 on Monday. The business has a 50 day simple moving average of $15.89 and a 200-day simple moving average of $15.82. Tactile Systems Technology, Inc. has a 12 month low of $11.12 and a 12 month high of $21.10. The stock has a market capitalization of $313.44 million, a P/E ratio of 18.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.36 and a quick ratio of 3.80.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. B. Riley downgraded 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 report on Wednesday, February 19th. StockNews.com upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday.

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.