Principal Financial Group Inc. Raises Stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Principal Financial Group Inc. boosted its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 9.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 20,401 shares of the company’s stock after purchasing an additional 1,836 shares during the period. Principal Financial Group Inc. owned approximately 0.09% of Tactile Systems Technology worth $349,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Rhumbline Advisers grew its position in Tactile Systems Technology by 1.6% during the 4th 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. Janney Montgomery Scott LLC purchased a new position in Tactile Systems Technology during the 4th quarter worth $1,328,000. SG Americas Securities LLC grew its position in Tactile Systems Technology by 12.7% during the 4th quarter. SG Americas Securities LLC now owns 12,032 shares of the company’s stock worth $206,000 after purchasing an additional 1,354 shares during the last quarter. Retireful LLC acquired a new stake in shares of Tactile Systems Technology in the 4th quarter worth $173,000. Finally, Tidal Investments LLC lifted its stake in shares of Tactile Systems Technology by 20.9% in the 3rd quarter. Tidal Investments LLC now owns 25,957 shares of the company’s stock worth $379,000 after acquiring an additional 4,483 shares during the period. 83.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TCMD has been the subject of several recent analyst reports. StockNews.com cut shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. B. Riley cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $18.00 in a research note on Wednesday, February 19th.

Insider Activity at Tactile Systems Technology

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 3,778 shares of Tactile Systems Technology stock in a transaction dated 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. The trade was a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel L. Reuvers sold 10,938 shares of Tactile Systems Technology stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock worth $285,444 over the last 90 days. Company insiders own 0.96% of the company’s stock.

Tactile Systems Technology Stock Up 0.7 %

Shares of NASDAQ TCMD opened at $14.19 on Friday. 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, Inc. has a 52 week low of $11.12 and a 52 week high of $21.10. The firm has a 50-day moving average price of $16.66 and a 200 day moving average price of $15.76. The stock has a market capitalization of $334.67 million, a price-to-earnings ratio of 20.27 and a beta of 1.20.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.40 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 firm had revenue of $85.59 million during the quarter, compared to analysts’ expectations of $85.39 million. Equities research analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 EPS 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.