Renaissance Technologies LLC Has $7.73 Million Stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Renaissance Technologies LLC grew its stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 44.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 451,100 shares of the company’s stock after buying an additional 137,900 shares during the period. Renaissance Technologies LLC owned approximately 1.88% of Tactile Systems Technology worth $7,727,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Rhumbline Advisers grew its position in Tactile Systems Technology by 1.6% in the 4th quarter. Rhumbline Advisers now owns 38,033 shares of the company’s stock worth $651,000 after purchasing an additional 581 shares during the last quarter. SG Americas Securities LLC raised its holdings in Tactile Systems Technology by 12.7% in the 4th quarter. SG Americas Securities LLC now owns 12,032 shares of the company’s stock valued at $206,000 after acquiring an additional 1,354 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Tactile Systems Technology by 33.2% in the 4th quarter. Legal & General Group Plc now owns 6,257 shares of the company’s stock worth $107,000 after acquiring an additional 1,558 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Tactile Systems Technology by 9.9% during the 4th quarter. Principal Financial Group Inc. now owns 20,401 shares of the company’s stock worth $349,000 after purchasing an additional 1,836 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in Tactile Systems Technology during the fourth quarter worth $39,000. Institutional investors own 83.43% of the company’s stock.

Insider Buying and Selling at Tactile Systems Technology

In other Tactile Systems Technology news, VP Kristie Burns sold 4,830 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $14.65, for a total transaction of $70,759.50. Following the completion of the transaction, the vice president now owns 84,008 shares in the company, valued at approximately $1,230,717.20. This represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $14.70, for a total transaction of $55,536.60. Following the transaction, the chief financial officer now directly owns 104,098 shares of the company’s stock, valued at $1,530,240.60. This represents 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. 2.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

TCMD has been the subject of several recent research reports. B. Riley lowered shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $18.00 in a research report on Wednesday, February 19th. StockNews.com downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 29th.

Tactile Systems Technology Trading Down 0.1 %

TCMD stock opened at $13.33 on Friday. The business has a fifty day moving average price of $14.09 and a 200 day moving average price of $15.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.36 and a quick ratio of 3.80. Tactile Systems Technology, Inc. has a fifty-two week low of $11.12 and a fifty-two week high of $21.10. The stock has a market capitalization of $315.47 million, a price-to-earnings ratio of 19.04 and a beta of 1.21.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $85.39 million. Analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

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.