Accredited Investors Inc. Lowers Holdings in Tactile Systems Technology, Inc. $TCMD

Accredited Investors Inc. reduced its position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 17.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 94,880 shares of the company’s stock after selling 20,455 shares during the period. Accredited Investors Inc.’s holdings in Tactile Systems Technology were worth $2,479,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TCMD. Next Century Growth Investors LLC bought a new position in Tactile Systems Technology during the 4th quarter worth about $11,309,000. Marshall Wace LLP bought a new stake in shares of Tactile Systems Technology in the 4th quarter valued at about $7,700,000. Janus Henderson Group PLC bought a new stake in shares of Tactile Systems Technology in the 4th quarter valued at about $5,503,000. LSV Asset Management lifted its position in shares of Tactile Systems Technology by 119.8% in the 4th quarter. LSV Asset Management now owns 323,004 shares of the company’s stock worth $9,367,000 after purchasing an additional 176,059 shares during the period. Finally, Trexquant Investment LP bought a new position in shares of Tactile Systems Technology during the fourth quarter valued at approximately $4,895,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $32.00 to $36.00 in a research report on Thursday, May 7th. BTIG Research reiterated a “buy” rating and issued a $40.00 target price on shares of Tactile Systems Technology in a report on Thursday, May 21st. Finally, Weiss Ratings lowered shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.60.

Tactile Systems Technology Stock Up 2.3%

Shares of Tactile Systems Technology stock opened at $30.68 on Friday. The company has a 50 day moving average price of $26.26 and a 200 day moving average price of $27.25. The firm has a market capitalization of $692.14 million, a P/E ratio of 34.86 and a beta of 0.79. Tactile Systems Technology, Inc. has a 52 week low of $9.41 and a 52 week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Tactile Systems Technology had a return on equity of 9.70% and a net margin of 5.91%.The company had revenue of $75.27 million during the quarter, compared to analysts’ expectations of $70.57 million. As a group, research analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Tactile Systems Technology

In other news, CFO Elaine M. Birkemeyer sold 4,631 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $24.49, for a total value of $113,413.19. Following the completion of the transaction, the chief financial officer directly owned 130,188 shares in the company, valued at $3,188,304.12. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company’s stock.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, headquartered in Plymouth, Minnesota, is a medical device company specializing in the design, manufacture and marketing of home-use pneumatic compression therapy systems for the treatment of lymphedema and other chronic edema-related conditions. Using proprietary software and patented pump technologies, the company’s platforms are designed to improve patient outcomes through sequential pressure treatment that promotes fluid mobilization and enhanced lymphatic function.

At the core of Tactile Systems’ product portfolio is the Flexitouch® system, a programmable pneumatic pump and garment system approved for home use, and the Aria® device, which features an intuitive touchscreen interface and advanced garment design.