Tactile Systems Technology, Inc. $TCMD Stock Holdings Decreased by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY lowered its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 65.3% during the first quarter, Holdings Channel reports. The fund owned 255,899 shares of the company’s stock after selling 480,700 shares during the quarter. Paradigm Capital Management Inc. NY’s holdings in Tactile Systems Technology were worth $6,687,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TCMD. Prudential Financial Inc. grew its position in Tactile Systems Technology by 3.5% during the 2nd quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock worth $247,000 after purchasing an additional 835 shares in the last quarter. Strs Ohio raised its stake in Tactile Systems Technology by 4.1% during the 1st quarter. Strs Ohio now owns 22,700 shares of the company’s stock valued at $593,000 after purchasing an additional 900 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Tactile Systems Technology in the fourth quarter valued at $32,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Tactile Systems Technology by 5.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,957 shares of the company’s stock valued at $695,000 after purchasing an additional 1,215 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Tactile Systems Technology in the fourth quarter worth $36,000. Institutional investors and hedge funds own 83.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. B. Riley Financial upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating and lifted their price target for the company from $32.00 to $36.00 in a report on Thursday, May 7th. Weiss Ratings downgraded Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, BTIG Research restated a “buy” rating and set a $40.00 price objective on shares of Tactile Systems Technology in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Tactile Systems Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.60.

Tactile Systems Technology Stock Performance

Tactile Systems Technology stock opened at $27.48 on Friday. Tactile Systems Technology, Inc. has a twelve month low of $9.60 and a twelve month high of $37.77. The firm has a market cap of $619.95 million, a PE ratio of 31.23 and a beta of 0.79. The firm’s 50 day moving average price is $27.25 and its two-hundred day moving average price is $27.20.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. The company had revenue of $75.27 million for the quarter, compared to analyst estimates of $70.57 million. Equities analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.

Insider Transactions at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of Tactile Systems Technology stock in a transaction on Monday, May 11th. The stock was sold at an average price of $24.49, for a total transaction of $113,413.19. Following the completion of the sale, the chief financial officer owned 130,188 shares of the company’s stock, valued at approximately $3,188,304.12. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.10% of the company’s stock.

About Tactile Systems Technology

Tactile Systems Technology, Inc, headquartered in Plymouth, Minnesota, is a medical device company specializing in the design, manufacture and marketing of home-use pneumatic compression therapy systems for the treatment of lymphedema and other chronic edema-related conditions. Using proprietary software and patented pump technologies, the company’s platforms are designed to improve patient outcomes through sequential pressure treatment that promotes fluid mobilization and enhanced lymphatic function.

At the core of Tactile Systems’ product portfolio is the Flexitouch® system, a programmable pneumatic pump and garment system approved for home use, and the Aria® device, which features an intuitive touchscreen interface and advanced garment design.