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

Principal Financial Group Inc. cut its stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,565 shares of the company’s stock after selling 654 shares during the quarter. Principal Financial Group Inc. owned approximately 0.08% of Tactile Systems Technology worth $271,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TCMD. Paradigm Capital Management Inc. NY lifted its holdings in Tactile Systems Technology by 90.1% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock valued at $14,135,000 after purchasing an additional 561,073 shares in the last quarter. Wasatch Advisors LP increased its position in Tactile Systems Technology by 9.8% during the third quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock worth $10,624,000 after purchasing an additional 64,684 shares during the last quarter. Royce & Associates LP raised its position in shares of Tactile Systems Technology by 2.5% during the 3rd quarter. Royce & Associates LP now owns 612,979 shares of the company’s stock valued at $8,956,000 after buying an additional 14,780 shares during the period. Geode Capital Management LLC lifted its stake in shares of Tactile Systems Technology by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock valued at $8,164,000 after purchasing an additional 8,422 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Tactile Systems Technology by 26.5% in the 2nd quarter. Federated Hermes Inc. now owns 433,660 shares of the company’s stock valued at $5,178,000 after acquiring an additional 90,960 shares during the period. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Tactile Systems Technology Stock Down 0.1 %

TCMD stock opened at $17.52 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.37 and a quick ratio of 3.80. Tactile Systems Technology, Inc. has a 12 month low of $11.12 and a 12 month high of $21.10. The firm has a market capitalization of $420.43 million, a PE ratio of 26.95 and a beta of 1.21. The company’s 50 day simple moving average is $16.90 and its 200-day simple moving average is $14.43.

Analyst Ratings Changes

A number of analysts have issued reports on TCMD shares. BTIG Research lowered shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 5th. Oppenheimer cut shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. B. Riley began coverage on shares of Tactile Systems Technology in a research report on Thursday, September 26th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, StockNews.com cut shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 31st.

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.