Virtus Advisers LLC Sells 11,514 Shares of Tactile Systems Technology, Inc. $TCMD

Virtus Advisers LLC lessened its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 76.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,490 shares of the company’s stock after selling 11,514 shares during the quarter. Virtus Advisers LLC’s holdings in Tactile Systems Technology were worth $35,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC grew its holdings in shares of Tactile Systems Technology by 248.3% in the second quarter. Acadian Asset Management LLC now owns 683,662 shares of the company’s stock valued at $6,930,000 after purchasing an additional 487,392 shares in the last quarter. Norges Bank purchased a new stake in shares of Tactile Systems Technology during the 2nd quarter valued at about $1,464,000. Punch & Associates Investment Management Inc. lifted its holdings in shares of Tactile Systems Technology by 34.3% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 282,000 shares of the company’s stock valued at $3,728,000 after acquiring an additional 72,000 shares during the last quarter. Nuveen LLC bought a new stake in Tactile Systems Technology during the first quarter worth approximately $783,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Tactile Systems Technology during the second quarter valued at approximately $497,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TCMD shares. Zacks Research upgraded Tactile Systems Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Wednesday, November 26th. B. Riley restated a “neutral” rating and issued a $13.00 target price (up previously from $12.00) on shares of Tactile Systems Technology in a report on Tuesday, August 5th. William Blair upgraded shares of Tactile Systems Technology to a “strong-buy” rating in a report on Tuesday, August 5th. Finally, Piper Sandler reissued a “neutral” rating and issued a $20.00 price objective (up previously from $14.00) on shares of Tactile Systems Technology in a research note on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Tactile Systems Technology currently has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Tactile Systems Technology Trading Down 3.2%

NASDAQ TCMD opened at $24.88 on Tuesday. The stock has a market cap of $555.72 million, a PE ratio of 40.13 and a beta of 1.06. Tactile Systems Technology, Inc. has a 12 month low of $8.61 and a 12 month high of $26.57. The company’s 50-day moving average price is $18.62 and its 200-day moving average price is $13.83. The company has a current ratio of 3.79, a quick ratio of 3.36 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.20. The company had revenue of $85.76 million during the quarter, compared to analysts’ expectations of $79.31 million. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.72%. Tactile Systems Technology has set its FY 2025 guidance at EPS. Equities research analysts forecast that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Tactile Systems Technology Company 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.