1620 Investment Advisors Inc. Takes Position in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

1620 Investment Advisors Inc. acquired a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,671 shares of the company’s stock, valued at approximately $97,000.

Other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp acquired a new stake in shares of Tactile Systems Technology in the fourth quarter valued at $39,000. AlphaQuest LLC acquired a new stake in shares of Tactile Systems Technology in the fourth quarter valued at $158,000. XTX Topco Ltd acquired a new stake in shares of Tactile Systems Technology in the third quarter valued at $163,000. Retireful LLC acquired a new stake in shares of Tactile Systems Technology in the fourth quarter valued at $173,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Tactile Systems Technology during the third quarter worth $180,000. Institutional investors and hedge funds own 83.43% of the company’s stock.

Tactile Systems Technology Stock Down 2.9 %

Shares of Tactile Systems Technology stock opened at $13.29 on Friday. The firm has a market capitalization of $313.44 million, a PE ratio of 18.99 and a beta of 1.24. Tactile Systems Technology, Inc. has a 12-month low of $11.12 and a 12-month high of $21.10. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average is $15.89 and its 200-day moving average is $15.79.

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

Insider Activity at Tactile Systems Technology

In related news, VP Kristie Burns sold 4,830 shares of the company’s 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. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $14.70, for a total value of $55,536.60. Following the completion of the transaction, the chief financial officer now directly owns 104,098 shares in the company, valued at approximately $1,530,240.60. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,546 shares of company stock valued at $285,444. Company insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TCMD shares. B. Riley lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $18.00 in a research report on Wednesday, February 19th. StockNews.com raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report 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.