Riverwater Partners LLC Sells 833 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Riverwater Partners LLC lowered its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,813 shares of the company’s stock after selling 833 shares during the period. Riverwater Partners LLC owned about 0.09% of Tactile Systems Technology worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TCMD. Vanguard Group Inc. grew its holdings in Tactile Systems Technology by 1.0% during the first quarter. Vanguard Group Inc. now owns 1,383,366 shares of the company’s stock worth $22,480,000 after purchasing an additional 13,350 shares during the period. Paradigm Capital Management Inc. NY raised its stake in Tactile Systems Technology by 90.1% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock valued at $14,135,000 after acquiring an additional 561,073 shares during the period. Wasatch Advisors LP acquired a new stake in Tactile Systems Technology during the 1st quarter valued at $8,687,000. Federated Hermes Inc. boosted its position in Tactile Systems Technology by 26.5% during the second quarter. Federated Hermes Inc. now owns 433,660 shares of the company’s stock worth $5,178,000 after purchasing an additional 90,960 shares during the period. Finally, Pinnacle Associates Ltd. increased its holdings in shares of Tactile Systems Technology by 324.9% in the second quarter. Pinnacle Associates Ltd. now owns 317,024 shares of the company’s stock valued at $3,785,000 after purchasing an additional 242,413 shares during the last quarter. 83.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TCMD has been the subject of several research analyst reports. StockNews.com raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Friday, September 20th. B. Riley began coverage on Tactile Systems Technology in a report on Thursday, September 26th. They set a “buy” rating and a $23.00 price objective for the company.

Tactile Systems Technology Trading Down 1.5 %

TCMD stock opened at $14.28 on Thursday. Tactile Systems Technology, Inc. has a 52 week low of $9.69 and a 52 week high of $16.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.89 and a current ratio of 4.44. The company’s 50-day simple moving average is $13.77 and its 200 day simple moving average is $13.22. The company has a market capitalization of $339.29 million, a PE ratio of 10.35 and a beta of 1.18.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, August 5th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.10 by $0.10. Tactile Systems Technology had a net margin of 11.57% and a return on equity of 16.94%. The company had revenue of $73.22 million for the quarter, compared to analysts’ expectations of $72.62 million. As a group, sell-side analysts anticipate that Tactile Systems Technology, Inc. will post 0.64 earnings per share for the current 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.