Royce & Associates LP Sells 65,917 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Royce & Associates LP trimmed its stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 10.8% during the fourth quarter, HoldingsChannel reports. The fund owned 547,062 shares of the company’s stock after selling 65,917 shares during the period. Royce & Associates LP’s holdings in Tactile Systems Technology were worth $9,371,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TCMD. Wasatch Advisors LP raised its stake in shares of Tactile Systems Technology by 9.8% in the 3rd quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock valued at $10,624,000 after purchasing an additional 64,684 shares during the period. Geode Capital Management LLC raised its position in Tactile Systems Technology by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock valued at $8,164,000 after buying an additional 8,422 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Tactile Systems Technology by 8.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 127,175 shares of the company’s stock valued at $1,858,000 after acquiring an additional 9,485 shares in the last quarter. FMR LLC lifted its stake in Tactile Systems Technology by 28.1% in the 3rd quarter. FMR LLC now owns 79,348 shares of the company’s stock valued at $1,159,000 after acquiring an additional 17,393 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in Tactile Systems Technology during the 4th quarter worth approximately $1,328,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Price Performance

Shares of TCMD opened at $13.66 on Wednesday. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $16.12 and its 200 day simple moving average is $15.82. Tactile Systems Technology, Inc. has a 1-year low of $11.12 and a 1-year high of $21.10. The company has a market cap of $322.17 million, a price-to-earnings ratio of 19.51 and a beta of 1.24.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on TCMD shares. StockNews.com lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. B. Riley downgraded shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $18.00 in a research note on Wednesday, February 19th.

Insider Activity

In related news, Director Daniel L. Reuvers sold 10,938 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.55, for a total value of $159,147.90. Following the sale, the director now owns 242,942 shares in the company, valued at approximately $3,534,806.10. This represents a 4.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kristie Burns sold 4,830 shares of Tactile Systems Technology stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.65, for a total transaction of $70,759.50. Following the transaction, the vice president now directly owns 84,008 shares of the company’s stock, valued at approximately $1,230,717.20. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $285,444 over the last three months. Insiders own 0.96% of the company’s stock.

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.