Federated Hermes Inc. Sells 37,811 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Key Points

• Federated Hermes Inc. reduced its stake in Tactile Systems Technology, Inc. by 8.9% in the first quarter, owning approximately 1.63% of the company by the end of this period.
• Tactile Systems Technology reported a loss of ($0.13) earnings per share for the last quarter, which was below analysts’ expectations of ($0.07).
• The stock has a market capitalization of $224.36 million, with a 1-year trading range between $8.61 and $21.10.

Federated Hermes Inc. lessened its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 8.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 386,398 shares of the company's stock after selling 37,811 shares during the period. Federated Hermes Inc. owned 1.63% of Tactile Systems Technology worth $5,108,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of TCMD. GAMMA Investing LLC increased its stake 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 valued at $34,000 after purchasing an additional 2,574 shares in the last quarter. Virtus Fund Advisers LLC increased its stake in Tactile Systems Technology by 142.0% in the fourth quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company's stock valued at $72,000 after purchasing an additional 2,464 shares in the last quarter. Quarry LP bought a new stake in Tactile Systems Technology in the fourth quarter valued at $81,000. Legal & General Group Plc increased its stake in Tactile Systems Technology by 33.2% in the fourth quarter. Legal & General Group Plc now owns 6,257 shares of the company's stock valued at $107,000 after purchasing an additional 1,558 shares in the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in Tactile Systems Technology in the fourth quarter valued at $145,000. Institutional investors and hedge funds own 83.43% of the company's stock.

Tactile Systems Technology Stock Up 26.8%

Tactile Systems Technology stock traded up $2.65 during midday trading on Tuesday, hitting $12.54. 1,044,260 shares of the stock were exchanged, compared to its average volume of 184,157. Tactile Systems Technology, Inc. has a 52-week low of $8.61 and a 52-week high of $21.10. The stock has a market capitalization of $291.56 million, a price-to-earnings ratio of 20.23 and a beta of 0.96. The business's 50-day moving average price is $10.07 and its 200-day moving average price is $12.63. The company has a quick ratio of 3.99, a current ratio of 4.52 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. The business had revenue of $78.91 million for the quarter, compared to analysts' expectations of $73.93 million. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.58%. On average, research analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. B. Riley lifted their price target on shares of Tactile Systems Technology from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Tuesday. Wall Street Zen cut shares of Tactile Systems Technology from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Piper Sandler cut shares of Tactile Systems Technology from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $25.00 to $14.00 in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $13.50.

Insider Transactions at Tactile Systems Technology

In other Tactile Systems Technology news, Director William W. Burke sold 3,300 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $9.67, for a total value of $31,911.00. Following the transaction, the director directly owned 48,520 shares in the company, valued at $469,188.40. The trade was a 6.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elaine M. Birkemeyer sold 2,921 shares of the business's 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 completion of the transaction, the chief financial officer owned 99,111 shares in the company, valued at approximately $985,163.34. The trade was a 2.86% 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.

Tactile Systems Technology Company 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.