Two Sigma Investments LP Sells 31,793 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Two Sigma Investments LP lessened its position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 46.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,094 shares of the company’s stock after selling 31,793 shares during the period. Two Sigma Investments LP owned about 0.15% of Tactile Systems Technology worth $618,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Tidal Investments LLC grew its position in shares of Tactile Systems Technology by 119.1% in the 4th quarter. Tidal Investments LLC now owns 56,882 shares of the company’s stock valued at $974,000 after acquiring an additional 30,925 shares during the period. Man Group plc bought a new stake in shares of Tactile Systems Technology during the 4th quarter worth about $579,000. Millennium Management LLC bought a new stake in shares of Tactile Systems Technology during the 4th quarter worth about $2,793,000. Lazard Asset Management LLC boosted its holdings in shares of Tactile Systems Technology by 41.2% during the 4th quarter. Lazard Asset Management LLC now owns 43,345 shares of the company’s stock worth $742,000 after buying an additional 12,645 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Tactile Systems Technology by 31.8% during the 4th quarter. Janus Henderson Group PLC now owns 86,076 shares of the company’s stock worth $1,474,000 after buying an additional 20,760 shares during the period. Institutional investors own 83.43% of the company’s stock.

Insider Activity

In other news, Director William W. Burke sold 3,300 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $9.67, for a total value of $31,911.00. Following the completion of the transaction, the director now directly owns 48,520 shares in the company, valued at approximately $469,188.40. The trade was a 6.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elaine M. Birkemeyer sold 2,921 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $9.94, for a total transaction of $29,034.74. Following the completion of the transaction, the chief financial officer now owns 99,111 shares of the company’s stock, valued at $985,163.34. The trade was a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Tactile Systems Technology Price Performance

Shares of Tactile Systems Technology stock opened at $10.04 on Monday. Tactile Systems Technology, Inc. has a twelve month low of $8.61 and a twelve month high of $21.10. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11. The company has a 50-day simple moving average of $11.85 and a two-hundred day simple moving average of $14.86. The stock has a market capitalization of $233.41 million, a price-to-earnings ratio of 14.34 and a beta of 0.94.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, May 5th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $61.27 million during the quarter, compared to analyst estimates of $63.48 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Analysts forecast that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Analyst Upgrades and Downgrades

TCMD has been the subject of several research analyst reports. Piper Sandler downgraded shares of Tactile Systems Technology from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $25.00 to $14.00 in a report on Tuesday, May 6th. Wall Street Zen downgraded shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Finally, B. Riley raised shares of Tactile Systems Technology to a “hold” rating in a report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Tactile Systems Technology presently has a consensus rating of “Hold” and a consensus price target of $16.00.

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.