1620 Investment Advisors Inc. Makes New $97,000 Investment in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

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

Other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in shares of Tactile Systems Technology during the 4th quarter worth about $39,000. AlphaQuest LLC bought a new stake in shares of Tactile Systems Technology during the 4th quarter worth about $158,000. XTX Topco Ltd bought a new stake in shares of Tactile Systems Technology during the 3rd quarter worth about $163,000. Retireful LLC bought a new stake in shares of Tactile Systems Technology during the 4th quarter worth about $173,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Tactile Systems Technology during the 3rd quarter worth about $180,000. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Price Performance

Shares of NASDAQ:TCMD opened at $13.29 on Friday. The business has a 50 day moving average price of $15.89 and a 200 day moving average price of $15.79. Tactile Systems Technology, Inc. has a twelve month low of $11.12 and a twelve month high of $21.10. The company has a market cap of $313.44 million, a price-to-earnings ratio of 18.99 and a beta of 1.24. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD) last announced its 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. Tactile Systems Technology had a return on equity of 9.37% and a net margin of 5.79%. The firm had revenue of $85.59 million during the quarter, compared to the consensus estimate of $85.39 million. Research analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TCMD shares. B. Riley downgraded Tactile Systems Technology from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $18.00 in a research note on Wednesday, February 19th. StockNews.com upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday.

Insider Buying and Selling at Tactile Systems Technology

In other Tactile Systems Technology news, VP Kristie Burns sold 4,830 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $14.65, for a total value of $70,759.50. Following the completion of the transaction, the vice president now owns 84,008 shares of the company’s stock, valued at $1,230,717.20. This represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel L. Reuvers sold 10,938 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $14.55, for a total value of $159,147.90. Following the completion of the transaction, the director now directly owns 242,942 shares of the company’s stock, valued at approximately $3,534,806.10. This trade represents a 4.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $285,444 in the last quarter. Corporate insiders own 0.96% of the company’s stock.

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.