Resona Asset Management Co. Ltd. Buys New Stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 27,723 shares of the company's stock, valued at approximately $476,000. Resona Asset Management Co. Ltd. owned about 0.12% of Tactile Systems Technology as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. FMR LLC grew its position in shares of Tactile Systems Technology by 28.1% during the 3rd quarter. FMR LLC now owns 79,348 shares of the company's stock valued at $1,159,000 after acquiring an additional 17,393 shares during the period. Principal Financial Group Inc. increased its stake in shares of Tactile Systems Technology by 9.9% in the 4th quarter. Principal Financial Group Inc. now owns 20,401 shares of the company's stock worth $349,000 after acquiring an additional 1,836 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Tactile Systems Technology during the 4th quarter worth $1,328,000. Geode Capital Management LLC boosted its position in shares of Tactile Systems Technology by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 558,667 shares of the company's stock valued at $8,164,000 after acquiring an additional 8,422 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Tactile Systems Technology by 163.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 52,227 shares of the company's stock valued at $895,000 after purchasing an additional 32,378 shares during the period. Institutional investors and hedge funds own 83.43% of the company's stock.

Tactile Systems Technology Trading Up 0.7 %

NASDAQ TCMD traded up $0.10 on Wednesday, reaching $13.45. The stock had a trading volume of 23,564 shares, compared to its average volume of 249,988. Tactile Systems Technology, Inc. has a 12-month low of $11.12 and a 12-month high of $21.10. The stock has a fifty day moving average price of $14.31 and a two-hundred day moving average price of $15.74. The firm has a market capitalization of $318.19 million, a price-to-earnings ratio of 19.21 and a beta of 1.21. 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 - Get Free Report) last announced its 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 analysts' expectations of $85.39 million. Tactile Systems Technology had a return on equity of 9.37% and a net margin of 5.79%. As a group, sell-side analysts forecast that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Elaine M. Birkemeyer sold 3,778 shares of Tactile Systems Technology stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.70, for a total value of $55,536.60. Following the completion of the transaction, the chief financial officer now directly owns 104,098 shares in the company, valued at approximately $1,530,240.60. This trade represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel L. Reuvers sold 10,938 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $14.55, for a total value of $159,147.90. Following the sale, the director now 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 disclosure for this sale can be found here. Insiders have sold a total of 19,546 shares of company stock valued at $285,444 in the last ninety days. Company insiders own 0.96% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.