Arrowstreet Capital Limited Partnership Boosts Position in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Arrowstreet Capital Limited Partnership lifted its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 163.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,227 shares of the company's stock after purchasing an additional 32,378 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.22% of Tactile Systems Technology worth $895,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TCMD. Jones Financial Companies Lllp purchased a new position in shares of Tactile Systems Technology in the 4th quarter valued at about $39,000. 1620 Investment Advisors Inc. acquired a new position in Tactile Systems Technology during the 4th quarter worth approximately $97,000. AlphaQuest LLC purchased a new stake in shares of Tactile Systems Technology in the 4th quarter valued at approximately $158,000. XTX Topco Ltd acquired a new stake in shares of Tactile Systems Technology in the 3rd quarter valued at $163,000. Finally, Retireful LLC acquired a new stake in shares of Tactile Systems Technology in the 4th quarter valued at $173,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Kristie Burns sold 4,830 shares of the company'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 transaction of $70,759.50. Following the completion of the transaction, the vice president now owns 84,008 shares of the company's stock, valued at approximately $1,230,717.20. This represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of Tactile Systems Technology stock in a transaction on Monday, February 24th. The shares were 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 in the company, valued at approximately $1,530,240.60. This trade represents a 3.50 % decrease in their position. 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 90 days. 0.96% of the stock is currently owned by insiders.

Tactile Systems Technology Price Performance

Tactile Systems Technology stock traded down $0.05 during trading hours on Thursday, hitting $13.30. The stock had a trading volume of 33,133 shares, compared to its average volume of 264,911. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.36 and a quick ratio of 3.80. The stock's fifty day moving average is $14.23 and its two-hundred day moving average is $15.73. Tactile Systems Technology, Inc. has a 1-year low of $11.12 and a 1-year high of $21.10. The stock has a market capitalization of $314.76 million, a price-to-earnings ratio of 19.00 and a beta of 1.21.

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

Analyst Ratings Changes

A number of analysts have weighed in 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 stock from $23.00 to $18.00 in a report on Wednesday, February 19th. StockNews.com lowered shares of Tactile Systems Technology from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 29th.

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.