Royce & Associates LP Sells 126,620 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Key Points

• Royce & Associates LP reduced its holdings in Tactile Systems Technology by 23.1%, owning 420,442 shares worth approximately $5.56 million following the sale of 126,620 shares in the first quarter.
• Tactile Systems Technology's stock rose by 2.9%, with a current price of $10.55, and the company has a market capitalization of $245.29 million.
• The company reported a loss of $0.13 earnings per share for the latest quarter, missing analysts' estimates, while its revenue of $61.27 million was below the consensus forecast of $63.48 million.

Royce & Associates LP lessened its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 23.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 420,442 shares of the company's stock after selling 126,620 shares during the period. Royce & Associates LP owned approximately 1.78% of Tactile Systems Technology worth $5,558,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in Tactile Systems Technology by 64,350.0% in the first quarter. GAMMA Investing LLC now owns 2,578 shares of the company's stock worth $34,000 after purchasing an additional 2,574 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Tactile Systems Technology by 163.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 52,227 shares of the company's stock worth $895,000 after purchasing an additional 32,378 shares during the last quarter. Bank of America Corp DE increased its position in Tactile Systems Technology by 67.5% in the fourth quarter. Bank of America Corp DE now owns 101,867 shares of the company's stock worth $1,745,000 after purchasing an additional 41,037 shares during the last quarter. Millennium Management LLC bought a new stake in Tactile Systems Technology in the fourth quarter worth $2,793,000. Finally, Dimensional Fund Advisors LP increased its position in Tactile Systems Technology by 8.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company's stock valued at $15,444,000 after acquiring an additional 67,934 shares during the last quarter. Institutional investors own 83.43% of the company's stock.

Tactile Systems Technology Trading Up 1.2%

Shares of NASDAQ TCMD traded up $0.12 during mid-day trading on Wednesday, reaching $10.43. The company had a trading volume of 20,389 shares, compared to its average volume of 275,245. The business's 50-day moving average is $10.04 and its 200-day moving average is $12.88. The company has a current ratio of 4.52, a quick ratio of 3.99 and a debt-to-equity ratio of 0.11. The stock has a market cap of $242.50 million, a price-to-earnings ratio of 15.80 and a beta of 0.95. 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 quarterly 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 company 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 8.41% and a net margin of 5.52%. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Equities analysts expect that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Insider Transactions at Tactile Systems Technology

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 2,921 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $9.94, for a total transaction of $29,034.74. Following the transaction, the chief financial officer directly owned 99,111 shares in the company, valued at $985,163.34. This represents a 2.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William W. Burke sold 3,300 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $9.67, for a total transaction of $31,911.00. Following the transaction, the director owned 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. Corporate insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TCMD. Wall Street Zen cut shares of Tactile Systems Technology from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. B. Riley upgraded shares of Tactile Systems Technology to a "hold" rating in a research report on Wednesday, May 7th. Finally, Piper Sandler cut shares of Tactile Systems Technology from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $25.00 to $14.00 in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $16.00.

Tactile Systems Technology 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.