Tactile Systems Technology, Inc. $TCMD Shares Sold by Paradigm Capital Management Inc. NY

Key Points

• Paradigm Capital Management cut its Tactile Systems Technology stake by 65.3% in the first quarter, selling 480,700 shares and leaving it with 255,899 shares worth about $6.69 million.
• The company reported quarterly earnings of ($0.08) per share, missing estimates by a penny, though revenue of $75.27 million came in above expectations.
• Analysts remain generally positive on TCMD, with a Moderate Buy consensus and a target price of $38.60; shares recently traded around $27.48.

Paradigm Capital Management Inc. NY trimmed its stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 65.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 255,899 shares of the company's stock after selling 480,700 shares during the quarter. Paradigm Capital Management Inc. NY owned about 1.13% of Tactile Systems Technology worth $6,687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Tactile Systems Technology by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company's stock valued at $47,884,000 after acquiring an additional 76,198 shares during the period. Dimensional Fund Advisors LP lifted its position in Tactile Systems Technology by 2.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,191,207 shares of the company's stock worth $16,486,000 after purchasing an additional 24,001 shares during the period. Federated Hermes Inc. lifted its position in Tactile Systems Technology by 19.4% in the fourth quarter. Federated Hermes Inc. now owns 645,408 shares of the company's stock worth $18,717,000 after purchasing an additional 104,648 shares during the period. Deutsche Bank AG boosted its stake in Tactile Systems Technology by 0.3% during the 4th quarter. Deutsche Bank AG now owns 578,669 shares of the company's stock valued at $16,781,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Next Century Growth Investors LLC bought a new position in Tactile Systems Technology during the 4th quarter valued at $11,309,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Stock Performance

Shares of NASDAQ:TCMD opened at $27.48 on Friday. The stock has a market capitalization of $619.95 million, a price-to-earnings ratio of 31.23 and a beta of 0.79. Tactile Systems Technology, Inc. has a 1-year low of $9.60 and a 1-year high of $37.77. The company has a 50 day moving average price of $27.25 and a 200 day moving average price of $27.20.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. The company had revenue of $75.27 million during the quarter, compared to the consensus estimate of $70.57 million. On average, sell-side analysts expect that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TCMD shares. Weiss Ratings cut Tactile Systems Technology from a "hold (c+)" rating to a "hold (c-)" rating in a research report on Wednesday, May 6th. BTIG Research reaffirmed a "buy" rating and set a $40.00 target price on shares of Tactile Systems Technology in a research note on Thursday, May 21st. Finally, B. Riley Financial raised Tactile Systems Technology from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $32.00 to $36.00 in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.60.

Insider Activity

In other news, CFO Elaine M. Birkemeyer sold 4,631 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $24.49, for a total transaction of $113,413.19. Following the sale, the chief financial officer directly owned 130,188 shares of the company's stock, valued at $3,188,304.12. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is owned by insiders.

Tactile Systems Technology Profile

Tactile Systems Technology, Inc, headquartered in Plymouth, Minnesota, is a medical device company specializing in the design, manufacture and marketing of home-use pneumatic compression therapy systems for the treatment of lymphedema and other chronic edema-related conditions. Using proprietary software and patented pump technologies, the company's platforms are designed to improve patient outcomes through sequential pressure treatment that promotes fluid mobilization and enhanced lymphatic function.

At the core of Tactile Systems' product portfolio is the Flexitouch® system, a programmable pneumatic pump and garment system approved for home use, and the Aria® device, which features an intuitive touchscreen interface and advanced garment design.

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