Allspring Global Investments Holdings LLC Sells 3,084 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Allspring Global Investments Holdings LLC reduced its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 9.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,289 shares of the company’s stock after selling 3,084 shares during the period. Allspring Global Investments Holdings LLC owned about 0.13% of Tactile Systems Technology worth $443,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Paradigm Capital Management Inc. NY grew its holdings in shares of Tactile Systems Technology by 90.1% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock worth $14,135,000 after purchasing an additional 561,073 shares during the last quarter. Pinnacle Associates Ltd. grew 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 worth $3,785,000 after purchasing an additional 242,413 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Tactile Systems Technology in the third quarter worth approximately $1,803,000. Los Angeles Capital Management LLC bought a new position in shares of Tactile Systems Technology in the second quarter worth approximately $1,187,000. Finally, Federated Hermes Inc. grew its holdings in shares of Tactile Systems Technology by 26.5% in 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 last quarter. 83.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. StockNews.com raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 20th. B. Riley assumed coverage on Tactile Systems Technology in a research note on Thursday, September 26th. They issued a “buy” rating and a $23.00 price target for the company.

Tactile Systems Technology Stock Performance

Shares of Tactile Systems Technology stock opened at $14.69 on Friday. The company has a current ratio of 4.44, a quick ratio of 3.89 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $349.03 million, a P/E ratio of 10.65 and a beta of 1.17. The business has a fifty day simple moving average of $13.99 and a two-hundred day simple moving average of $13.20. Tactile Systems Technology, Inc. has a 12 month low of $9.69 and a 12 month high of $16.95.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.10. Tactile Systems Technology had a return on equity of 16.94% and a net margin of 11.57%. The firm had revenue of $73.22 million during the quarter, compared to the consensus estimate of $72.62 million. On average, equities analysts forecast that Tactile Systems Technology, Inc. will post 0.64 earnings per share for the current fiscal year.

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.