Riverwater Partners LLC Sells 833 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Riverwater Partners LLC cut its stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 21,813 shares of the company’s stock after selling 833 shares during the period. Riverwater Partners LLC’s holdings in Tactile Systems Technology were worth $311,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of Tactile Systems Technology by 7.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,371 shares of the company’s stock worth $283,000 after buying an additional 1,159 shares during the period. Palisade Asset Management LLC bought a new position in shares of Tactile Systems Technology in the 1st quarter worth about $32,000. Inspire Investing LLC lifted its stake in shares of Tactile Systems Technology by 4.3% in the 1st quarter. Inspire Investing LLC now owns 55,904 shares of the company’s stock valued at $908,000 after purchasing an additional 2,310 shares during the period. ClariVest Asset Management LLC grew its position in shares of Tactile Systems Technology by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 83,195 shares of the company’s stock worth $993,000 after buying an additional 2,326 shares during the period. Finally, Quarry LP acquired a new position in shares of Tactile Systems Technology during the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 83.43% of the company’s stock.

Analyst Ratings Changes

TCMD has been the subject of several research reports. B. Riley started coverage on Tactile Systems Technology in a research report on Thursday, September 26th. They issued a “buy” rating and a $23.00 target price for the company. StockNews.com raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 20th.

Tactile Systems Technology Stock Down 1.5 %

Tactile Systems Technology stock opened at $14.28 on Thursday. 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’s fifty day moving average price is $13.77 and its two-hundred day moving average price is $13.22. The firm has a market capitalization of $339.29 million, a price-to-earnings ratio of 10.35 and a beta of 1.18. Tactile Systems Technology, Inc. has a 1-year low of $9.69 and a 1-year high of $16.95.

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

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.