Tactile Systems Technology, Inc. (NASDAQ:TCMD) Stake Trimmed by Perkins Capital Management Inc.

Perkins Capital Management Inc. cut its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 11.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,000 shares of the company’s stock after selling 8,500 shares during the quarter. Perkins Capital Management Inc. owned 0.29% of Tactile Systems Technology worth $1,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC purchased a new stake in shares of Tactile Systems Technology in the 1st quarter valued at approximately $815,000. Paradigm Capital Management Inc. NY lifted its holdings in shares of Tactile Systems Technology by 90.1% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock valued at $14,135,000 after purchasing an additional 561,073 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in Tactile Systems Technology in the 2nd quarter worth about $706,000. Federated Hermes Inc. increased its stake in Tactile Systems Technology by 26.5% in the 2nd quarter. Federated Hermes Inc. now owns 433,660 shares of the company’s stock valued at $5,178,000 after buying an additional 90,960 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Tactile Systems Technology by 31.5% during the 2nd quarter. Acadian Asset Management LLC now owns 157,925 shares of the company’s stock valued at $1,884,000 after acquiring an additional 37,813 shares in the last quarter. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TCMD. StockNews.com upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Friday, September 20th. BTIG Research lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Tuesday. B. Riley started coverage on shares of Tactile Systems Technology in a research report on Thursday, September 26th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, Oppenheimer cut shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research note on Tuesday.

Tactile Systems Technology Trading Up 8.9 %

Tactile Systems Technology stock opened at $14.62 on Thursday. Tactile Systems Technology, Inc. has a 52 week low of $9.69 and a 52 week high of $16.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.89 and a current ratio of 4.44. The firm has a market capitalization of $347.37 million, a PE ratio of 22.49 and a beta of 1.17. The business’s 50-day simple moving average is $14.07 and its 200-day simple moving average is $13.20.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.10 by $0.10. Tactile Systems Technology had a return on equity of 9.38% and a net margin of 5.42%. The company had revenue of $73.22 million for the quarter, compared to the consensus estimate of $72.62 million. Equities research analysts forecast that Tactile Systems Technology, Inc. will post 0.64 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.