Federated Hermes Inc. Has $7.27 Million Holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Federated Hermes Inc. cut its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 424,209 shares of the company’s stock after selling 9,865 shares during the period. Federated Hermes Inc. owned about 1.77% of Tactile Systems Technology worth $7,267,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. FMR LLC increased its holdings in Tactile Systems Technology by 28.1% in the 3rd quarter. FMR LLC now owns 79,348 shares of the company’s stock valued at $1,159,000 after buying an additional 17,393 shares during the period. Principal Financial Group Inc. boosted its position 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 valued at $349,000 after acquiring an additional 1,836 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Tactile Systems Technology in the fourth quarter valued at about $1,328,000. Geode Capital Management LLC raised its position in Tactile Systems Technology by 1.5% in the third quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock worth $8,164,000 after purchasing an additional 8,422 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Tactile Systems Technology by 16.4% during the third quarter. BNP Paribas Financial Markets now owns 45,374 shares of the company’s stock worth $663,000 after purchasing an additional 6,401 shares during the period. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Transactions at Tactile Systems Technology

In related news, VP Kristie Burns sold 4,830 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were 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 in the company, valued at $1,230,717.20. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel L. Reuvers sold 10,938 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.55, for a total value of $159,147.90. Following the transaction, the director now directly owns 242,942 shares in the company, valued at approximately $3,534,806.10. This represents a 4.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,546 shares of company stock worth $285,444. Insiders own 0.96% of the company’s stock.

Tactile Systems Technology Price Performance

NASDAQ:TCMD opened at $13.40 on Friday. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11. The firm has a market cap of $317.12 million, a PE ratio of 19.14 and a beta of 1.21. Tactile Systems Technology, Inc. has a 12 month low of $11.12 and a 12 month high of $21.10. The company’s 50-day moving average price is $14.55 and its two-hundred day moving average price is $15.76.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $85.59 million for the quarter, compared to analyst estimates of $85.39 million. On average, equities analysts anticipate 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.