Tactile Systems Technology, Inc. (NASDAQ:TCMD) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. trimmed its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 39.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,909 shares of the company's stock after selling 43,465 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.28% of Tactile Systems Technology worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new stake in Tactile Systems Technology during the fourth quarter valued at $39,000. Quarry LP bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth about $81,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Tactile Systems Technology during the 4th quarter valued at about $97,000. Legal & General Group Plc raised its position in shares of Tactile Systems Technology by 33.2% during the 4th quarter. Legal & General Group Plc now owns 6,257 shares of the company's stock valued at $107,000 after buying an additional 1,558 shares in the last quarter. Finally, State of Tennessee Department of Treasury bought a new position in shares of Tactile Systems Technology in the 4th quarter valued at about $145,000. 83.43% of the stock is currently owned by institutional investors.

Tactile Systems Technology Trading Up 0.6%

Shares of TCMD traded up $0.06 during mid-day trading on Thursday, reaching $9.90. 327,632 shares of the company's stock traded hands, compared to its average volume of 267,569. The stock has a market cap of $230.16 million, a P/E ratio of 14.14 and a beta of 1.05. The stock's 50-day moving average is $12.24 and its two-hundred day moving average is $15.11. Tactile Systems Technology, Inc. has a 12 month low of $8.61 and a 12 month high of $21.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.36 and a quick ratio of 3.80.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted 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 business had revenue of $61.27 million for the quarter, compared to analysts' expectations of $63.48 million. During the same quarter in the previous year, the firm earned ($0.05) EPS. Research analysts forecast that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Elaine M. Birkemeyer sold 2,921 shares of Tactile Systems Technology 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 completion of 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 legal filing with the SEC, which is available through the SEC website. Also, Director William W. Burke sold 3,300 shares of the company's 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 completion of the sale, the director now directly owns 48,520 shares of the company's stock, valued at approximately $469,188.40. This trade represents 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 currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.