Perkins Capital Management Inc. Sells 8,500 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Perkins Capital Management Inc. trimmed its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 11.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 69,000 shares of the company’s stock after selling 8,500 shares during the quarter. Perkins Capital Management Inc.’s holdings in Tactile Systems Technology were worth $1,008,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Paradigm Capital Management Inc. NY raised its stake 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. Pinnacle Associates Ltd. increased its stake in Tactile Systems Technology by 324.9% in the second quarter. Pinnacle Associates Ltd. now owns 317,024 shares of the company’s stock valued at $3,785,000 after acquiring an additional 242,413 shares during the period. Essex Investment Management Co. LLC acquired a new position in Tactile Systems Technology in the third quarter worth about $1,803,000. Los Angeles Capital Management LLC bought a new position in Tactile Systems Technology during the second quarter worth about $1,187,000. Finally, Federated Hermes Inc. lifted its stake in Tactile Systems Technology by 26.5% during the second quarter. Federated Hermes Inc. now owns 433,660 shares of the company’s stock worth $5,178,000 after purchasing an additional 90,960 shares during the period. Institutional investors and hedge funds own 83.43% of the company’s stock.

Tactile Systems Technology Price Performance

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

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

Wall Street Analysts Forecast Growth

TCMD has been the subject of a number of recent research reports. B. Riley assumed coverage on Tactile Systems Technology in a report on Thursday, September 26th. They issued a “buy” rating and a $23.00 target price for the company. BTIG Research lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Tuesday. Oppenheimer downgraded shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, StockNews.com upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 20th.

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.