Two Sigma Investments LP Lowers Stock Holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Two Sigma Investments LP lessened its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 46.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,094 shares of the company's stock after selling 31,793 shares during the quarter. Two Sigma Investments LP owned about 0.15% of Tactile Systems Technology worth $618,000 at the end of the most recent reporting period.

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

Tactile Systems Technology Price Performance

Shares of NASDAQ TCMD traded down $0.08 during trading on Thursday, hitting $9.95. The company had a trading volume of 227,682 shares, compared to its average volume of 263,883. The firm has a market capitalization of $231.32 million, a price-to-earnings ratio of 14.21 and a beta of 0.94. The stock has a fifty day simple moving average of $11.65 and a two-hundred day simple moving average of $14.74. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11. Tactile Systems Technology, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). The business had revenue of $61.27 million during 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 quarter in the previous year, the company posted ($0.05) EPS. On average, research analysts expect that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TCMD. Piper Sandler cut 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. B. Riley raised shares of Tactile Systems Technology to a "hold" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen lowered Tactile Systems Technology from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $16.00.

Insider Buying and Selling at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 2,921 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was 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 in the company, valued at approximately $985,163.34. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William W. Burke sold 3,300 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $9.67, for a total value of $31,911.00. Following 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 position. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.

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.