BNP Paribas Financial Markets Decreases Stock Position in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

BNP Paribas Financial Markets trimmed its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 59.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,419 shares of the company's stock after selling 26,955 shares during the quarter. BNP Paribas Financial Markets owned 0.08% of Tactile Systems Technology worth $316,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TCMD. Jones Financial Companies Lllp bought a new position in Tactile Systems Technology during the fourth quarter valued at $39,000. Quarry LP bought a new position in shares of Tactile Systems Technology in the fourth quarter worth $81,000. 1620 Investment Advisors Inc. bought a new position in shares of Tactile Systems Technology in the fourth quarter worth $97,000. Legal & General Group Plc boosted its holdings in shares of Tactile Systems Technology by 33.2% in the fourth quarter. Legal & General Group Plc now owns 6,257 shares of the company's stock worth $107,000 after acquiring an additional 1,558 shares during the period. Finally, State of Tennessee Department of Treasury bought a new position in shares of Tactile Systems Technology in the fourth quarter worth $145,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

Tactile Systems Technology Trading Up 1.3%

Shares of TCMD traded up $0.13 during trading hours on Friday, hitting $10.03. The company had a trading volume of 302,715 shares, compared to its average volume of 267,598. The firm has a market cap of $233.18 million, a P/E ratio of 14.33 and a beta of 1.05. The stock's 50 day moving average price is $12.17 and its 200 day moving average price is $15.05. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11. Tactile Systems Technology, Inc. has a 52-week low of $8.61 and a 52-week high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The business had revenue of $61.27 million during the quarter, compared to the consensus estimate of $63.48 million. Tactile Systems Technology had a return on equity of 9.37% and a net margin of 5.79%. During the same period in the previous year, the business earned ($0.05) earnings per share. On average, research analysts predict that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Insider Buying and Selling

In related news, CFO Elaine M. Birkemeyer sold 2,921 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $9.94, for a total value of $29,034.74. Following the sale, the chief financial officer now directly owns 99,111 shares of the company's stock, valued at $985,163.34. This trade represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William W. Burke sold 3,300 shares of Tactile Systems Technology 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on TCMD. Piper Sandler lowered Tactile Systems Technology from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $25.00 to $14.00 in a report on Tuesday, May 6th. B. Riley raised Tactile Systems Technology to a "hold" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen downgraded Tactile Systems Technology from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $16.00.

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.