Cornercap Investment Counsel Inc. Cuts Position in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Cornercap Investment Counsel Inc. lessened its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 53.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,929 shares of the company’s stock after selling 23,794 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Tactile Systems Technology were worth $306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TCMD. State Board of Administration of Florida Retirement System purchased a new position in shares of Tactile Systems Technology in the 1st quarter valued at about $171,000. Vanguard Group Inc. raised its holdings in shares of Tactile Systems Technology by 1.0% during the first quarter. Vanguard Group Inc. now owns 1,383,366 shares of the company’s stock valued at $22,480,000 after acquiring an additional 13,350 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Tactile Systems Technology by 17.4% during the first quarter. Acadian Asset Management LLC now owns 120,112 shares of the company’s stock valued at $1,950,000 after acquiring an additional 17,810 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 valued at $283,000 after acquiring an additional 1,159 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Tactile Systems Technology during the first quarter valued at approximately $815,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Price Performance

TCMD stock opened at $15.66 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.37 and a quick ratio of 3.80. The business has a 50 day simple moving average of $14.37 and a 200-day simple moving average of $13.26. The firm has a market capitalization of $375.79 million, a PE ratio of 24.09 and a beta of 1.17. Tactile Systems Technology, Inc. has a 1 year low of $10.91 and a 1 year high of $16.95.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. BTIG Research cut Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Tuesday, November 5th. Oppenheimer cut Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. B. Riley assumed coverage on Tactile Systems Technology in a report on Thursday, September 26th. They set a “buy” rating and a $23.00 target price for the company. Finally, StockNews.com raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Friday, September 20th.

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.