Resona Asset Management Co. Ltd. Reduces Position in Tactile Systems Technology, Inc. $TCMD

Resona Asset Management Co. Ltd. trimmed its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 59.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,176 shares of the company’s stock after selling 16,547 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Tactile Systems Technology were worth $145,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TCMD. SummerHaven Investment Management LLC boosted its position in shares of Tactile Systems Technology by 1.3% during the first quarter. SummerHaven Investment Management LLC now owns 66,220 shares of the company’s stock valued at $875,000 after buying an additional 821 shares during the period. Hohimer Wealth Management LLC boosted its holdings in Tactile Systems Technology by 4.5% during the 1st quarter. Hohimer Wealth Management LLC now owns 24,035 shares of the company’s stock valued at $318,000 after acquiring an additional 1,040 shares during the period. Northern Trust Corp boosted its holdings in Tactile Systems Technology by 0.7% during the 4th quarter. Northern Trust Corp now owns 205,914 shares of the company’s stock valued at $3,527,000 after acquiring an additional 1,371 shares during the period. Legal & General Group Plc grew its position in Tactile Systems Technology by 33.2% in the 4th quarter. Legal & General Group Plc now owns 6,257 shares of the company’s stock valued at $107,000 after acquiring an additional 1,558 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Tactile Systems Technology by 11.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,008 shares of the company’s stock worth $343,000 after purchasing an additional 2,006 shares during the period. 83.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TCMD. Wall Street Zen raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Piper Sandler downgraded shares of Tactile Systems Technology from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $14.00 in a research note on Tuesday, May 6th. William Blair raised shares of Tactile Systems Technology to a “strong-buy” rating in a research note on Tuesday, August 5th. Finally, B. Riley reiterated a “neutral” rating and issued a $13.00 price target (up previously from $12.00) on shares of Tactile Systems Technology in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.50.

Tactile Systems Technology Stock Performance

TCMD stock opened at $12.41 on Monday. Tactile Systems Technology, Inc. has a 1-year low of $8.61 and a 1-year high of $21.10. The business has a 50-day moving average price of $10.50 and a 200 day moving average price of $12.30. The company has a market capitalization of $276.62 million, a P/E ratio of 20.02 and a beta of 0.96. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.79 and a quick ratio of 3.36.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.72%. The business had revenue of $78.91 million during the quarter, compared to analyst estimates of $73.93 million. As a group, equities research analysts forecast that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 7,762 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $12.36, for a total transaction of $95,938.32. Following the completion of the sale, the chief executive officer owned 173,479 shares in the company, valued at $2,144,200.44. This represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by company insiders.

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.