Prudential Financial Inc. Trims Stock Holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Prudential Financial Inc. reduced its stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 71.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 26,775 shares of the company's stock after selling 66,300 shares during the period. Prudential Financial Inc. owned approximately 0.11% of Tactile Systems Technology worth $459,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in Tactile Systems Technology by 1.6% during the fourth quarter. Rhumbline Advisers now owns 38,033 shares of the company's stock worth $651,000 after purchasing an additional 581 shares during the last quarter. SG Americas Securities LLC lifted its position in Tactile Systems Technology by 12.7% in the 4th quarter. SG Americas Securities LLC now owns 12,032 shares of the company's stock worth $206,000 after buying an additional 1,354 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Tactile Systems Technology by 9.9% in the fourth quarter. Principal Financial Group Inc. now owns 20,401 shares of the company's stock worth $349,000 after buying an additional 1,836 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Tactile Systems Technology during the fourth quarter valued at approximately $39,000. Finally, Tidal Investments LLC raised its stake in shares of Tactile Systems Technology by 20.9% during the third quarter. Tidal Investments LLC now owns 25,957 shares of the company's stock worth $379,000 after acquiring an additional 4,483 shares in the last quarter. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

Tactile Systems Technology Trading Up 0.2 %

TCMD stock traded up $0.03 during midday trading on Tuesday, hitting $13.43. The company had a trading volume of 19,582 shares, compared to its average volume of 249,830. The stock has a market cap of $317.88 million, a price-to-earnings ratio of 19.24 and a beta of 1.21. Tactile Systems Technology, Inc. has a 52 week low of $11.12 and a 52 week high of $21.10. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11. The stock's 50 day moving average price is $14.38 and its 200 day moving average price is $15.76.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.09. The company had revenue of $85.59 million during the quarter, compared to analyst estimates of $85.39 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. As a group, equities research analysts expect that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Transactions at Tactile Systems Technology

In other Tactile Systems Technology news, Director Daniel L. Reuvers sold 10,938 shares of the business's stock in a transaction on Monday, February 24th. The shares were 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 of the company's stock, valued at approximately $3,534,806.10. The trade was 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 the SEC website. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.70, for a total transaction of $55,536.60. Following the completion of the transaction, the chief financial officer now owns 104,098 shares of the company's stock, valued at $1,530,240.60. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,546 shares of company stock worth $285,444. Company insiders own 0.96% of the company's stock.

Tactile Systems Technology 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.