Millennium Management LLC Buys Shares of 163,062 Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Millennium Management LLC purchased a new position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 163,062 shares of the company's stock, valued at approximately $2,793,000. Millennium Management LLC owned about 0.68% of Tactile Systems Technology at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TCMD. Norges Bank acquired a new stake in shares of Tactile Systems Technology in the fourth quarter worth $2,534,000. Renaissance Technologies LLC grew its position in Tactile Systems Technology by 44.0% during the 4th quarter. Renaissance Technologies LLC now owns 451,100 shares of the company's stock worth $7,727,000 after purchasing an additional 137,900 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Tactile Systems Technology during the 4th quarter valued at about $1,328,000. Dimensional Fund Advisors LP raised its stake in shares of Tactile Systems Technology by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company's stock valued at $15,444,000 after buying an additional 67,934 shares during the last quarter. Finally, Integrated Quantitative Investments LLC acquired a new position in shares of Tactile Systems Technology in the 4th quarter valued at about $1,098,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Tactile Systems Technology Price Performance

Shares of TCMD traded down $0.02 during mid-day trading on Wednesday, hitting $10.26. 43,426 shares of the company were exchanged, compared to its average volume of 263,995. The stock has a market cap of $238.45 million, a price-to-earnings ratio of 14.65 and a beta of 1.05. Tactile Systems Technology, Inc. has a 1-year low of $8.61 and a 1-year high of $21.10. The company has a 50 day moving average of $12.04 and a 200-day moving average of $14.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.80 and a current ratio of 4.36.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). The firm had revenue of $61.27 million for 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 period in the previous year, the company earned ($0.05) EPS. Analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Piper Sandler cut Tactile Systems Technology from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $25.00 to $14.00 in a research report on Tuesday, May 6th. Wall Street Zen cut shares of Tactile Systems Technology from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, B. Riley upgraded Tactile Systems Technology to a "hold" rating in a research report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $16.00.

Insider Buying and Selling at Tactile Systems Technology

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 2,921 shares of the firm'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 value of $29,034.74. Following the transaction, 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 position. 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 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 sale, the director now directly owns 48,520 shares of the company's stock, valued at approximately $469,188.40. This 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 insiders.

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.