BNP Paribas Financial Markets Sells 26,955 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

BNP Paribas Financial Markets lessened its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 59.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Tactile Systems Technology by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 1,483,692 shares of the company's stock worth $25,416,000 after acquiring an additional 4,509 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Tactile Systems Technology by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company's stock worth $15,444,000 after buying an additional 67,934 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Tactile Systems Technology by 44.0% in the fourth quarter. Renaissance Technologies LLC now owns 451,100 shares of the company's stock valued at $7,727,000 after acquiring an additional 137,900 shares during the period. Northern Trust Corp grew its stake in Tactile Systems Technology by 0.7% during the fourth quarter. Northern Trust Corp now owns 205,914 shares of the company's stock valued at $3,527,000 after acquiring an additional 1,371 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Tactile Systems Technology during the 4th quarter valued at $2,534,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Elaine M. Birkemeyer sold 2,921 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $9.94, for a total transaction of $29,034.74. Following the sale, the chief financial officer now directly owns 99,111 shares in the company, valued at $985,163.34. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William W. Burke sold 3,300 shares of the stock in a transaction on Thursday, May 8th. The stock was 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 owns 48,520 shares of the company's stock, valued at approximately $469,188.40. This trade represents a 6.37% decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Tactile Systems Technology Price Performance

Shares of Tactile Systems Technology stock traded up $0.13 during trading on Friday, hitting $10.03. 302,715 shares of the stock traded hands, compared to its average volume of 267,598. The stock has a market cap of $233.18 million, a price-to-earnings ratio of 14.33 and a beta of 1.05. Tactile Systems Technology, Inc. has a 52 week low of $8.61 and a 52 week high of $21.10. The firm's fifty day moving average is $12.17 and its 200-day moving average is $15.06. 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 (NASDAQ:TCMD - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. The firm had revenue of $61.27 million during the quarter, compared to analysts' expectations of $63.48 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. Research analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. B. Riley raised Tactile Systems Technology to a "hold" rating in a research note on Wednesday, May 7th. Piper Sandler cut shares of Tactile Systems Technology from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $25.00 to $14.00 in a research report on Tuesday, May 6th. Finally, Wall Street Zen lowered shares of Tactile Systems Technology from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus 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.