Kopp Family Office LLC Sells 42,320 Shares of Tactile Systems Technology, Inc. $TCMD

Kopp Family Office LLC decreased its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 33.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,009 shares of the company’s stock after selling 42,320 shares during the period. Tactile Systems Technology makes up approximately 1.5% of Kopp Family Office LLC’s investment portfolio, making the stock its 12th biggest position. Kopp Family Office LLC’s holdings in Tactile Systems Technology were worth $2,221,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TCMD. Russell Investments Group Ltd. lifted its position in shares of Tactile Systems Technology by 1,594.4% in the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after buying an additional 1,993 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Tactile Systems Technology during the 4th quarter valued at approximately $32,000. Quarry LP grew its holdings in Tactile Systems Technology by 302.6% during the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after buying an additional 1,743 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Tactile Systems Technology in the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC bought a new stake in Tactile Systems Technology in the 4th quarter worth approximately $37,000. 83.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $24.49, for a total transaction of $113,413.19. Following the sale, the chief financial officer owned 130,188 shares in the company, valued at approximately $3,188,304.12. This represents a 3.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TCMD shares. BTIG Research reaffirmed a “buy” rating and set a $40.00 price objective on shares of Tactile Systems Technology in a report on Thursday, May 21st. B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and raised their target price for the company from $32.00 to $36.00 in a report on Thursday, May 7th. Finally, Weiss Ratings cut shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.60.

Tactile Systems Technology Trading Up 3.9%

TCMD opened at $27.49 on Thursday. The stock has a 50-day moving average of $25.02 and a 200 day moving average of $27.09. Tactile Systems Technology, Inc. has a 12 month low of $9.41 and a 12 month high of $37.77. The firm has a market cap of $620.17 million, a P/E ratio of 31.24 and a beta of 0.83.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $75.27 million for the quarter, compared to analysts’ expectations of $70.57 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. On average, research analysts forecast that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current fiscal year.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, headquartered in Plymouth, Minnesota, is a medical device company specializing in the design, manufacture and marketing of home-use pneumatic compression therapy systems for the treatment of lymphedema and other chronic edema-related conditions. Using proprietary software and patented pump technologies, the company’s platforms are designed to improve patient outcomes through sequential pressure treatment that promotes fluid mobilization and enhanced lymphatic function.

At the core of Tactile Systems’ product portfolio is the Flexitouch® system, a programmable pneumatic pump and garment system approved for home use, and the Aria® device, which features an intuitive touchscreen interface and advanced garment design.