Norges Bank Invests $2.53 Million in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Norges Bank purchased a new position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 147,900 shares of the company's stock, valued at approximately $2,534,000. Norges Bank owned about 0.62% of Tactile Systems Technology at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TCMD. Janney Montgomery Scott LLC acquired a new stake in shares of Tactile Systems Technology in the fourth quarter valued at about $1,328,000. Semanteon Capital Management LP acquired a new position in Tactile Systems Technology in the 4th quarter valued at about $493,000. Barclays PLC increased its position in shares of Tactile Systems Technology by 56.7% during the third quarter. Barclays PLC now owns 66,885 shares of the company's stock worth $977,000 after acquiring an additional 24,188 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Tactile Systems Technology during the fourth quarter worth approximately $334,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Tactile Systems Technology during the fourth quarter worth $330,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TCMD shares. StockNews.com cut shares of Tactile Systems Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 29th. B. Riley downgraded shares of Tactile Systems Technology from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $23.00 to $18.00 in a research report on Wednesday, February 19th.

Tactile Systems Technology Trading Down 0.4 %

Shares of NASDAQ TCMD traded down $0.05 during midday trading on Thursday, reaching $13.30. 33,133 shares of the stock were exchanged, compared to its average volume of 264,911. Tactile Systems Technology, Inc. has a 52-week low of $11.12 and a 52-week high of $21.10. The company has a market capitalization of $314.76 million, a P/E ratio of 19.00 and a beta of 1.21. The stock has a 50 day moving average price of $14.23 and a 200-day moving average price of $15.73. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $85.59 million during the quarter, compared to the consensus estimate of $85.39 million. Equities research analysts expect that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Tactile Systems Technology

In other news, Director Daniel L. Reuvers sold 10,938 shares of Tactile Systems Technology stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.55, for a total transaction 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 trade represents a 4.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kristie Burns sold 4,830 shares of the business'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 transaction of $70,759.50. Following the completion of the sale, 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 ownership of the stock. 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 ninety days. 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.