UBS Group AG Sells 168,372 Shares of Tactile Systems Technology, Inc. $TCMD

Key Points

• UBS Group AG cut its stake in Tactile Systems Technology by 46% in the fourth quarter, selling 168,372 shares and ending with 197,715 shares valued at about $5.7 million.
• Analyst sentiment remains broadly positive, with several firms raising price targets and ratings; the stock currently carries a consensus “Moderate Buy” rating and a $38.60 average target price.
• Recent insider selling and mixed earnings results were also highlighted: CEO Sheri Louise Dodd and VP Kristie Burns sold shares, while the company missed EPS estimates but posted revenue above expectations in its latest quarterly report.

UBS Group AG lessened its stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 46.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,715 shares of the company's stock after selling 168,372 shares during the quarter. UBS Group AG owned 0.89% of Tactile Systems Technology worth $5,734,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Tactile Systems Technology by 4.8% in 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. Round Rock Advisors LLC lifted its holdings in shares of Tactile Systems Technology by 62.8% during the fourth quarter. Round Rock Advisors LLC now owns 27,042 shares of the company's stock valued at $784,000 after acquiring an additional 10,432 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Tactile Systems Technology in the 4th quarter valued at $86,000. Range Financial Group LLC bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth about $1,291,000. Finally, SG Americas Securities LLC bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth about $410,000. Institutional investors and hedge funds own 83.43% of the company's stock.

Analyst Ratings Changes

TCMD has been the subject of several analyst reports. Piper Sandler lifted their price target on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, February 18th. B. Riley Financial raised shares of Tactile Systems Technology from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $32.00 to $36.00 in a research note on Thursday, May 7th. Lake Street Capital set a $40.00 price objective on shares of Tactile Systems Technology and gave the stock a "buy" rating in a report on Wednesday, February 18th. Weiss Ratings cut shares of Tactile Systems Technology from a "hold (c+)" rating to a "hold (c-)" rating in a research note on Wednesday, May 6th. Finally, BTIG Research boosted their target price on Tactile Systems Technology from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $38.60.

Insider Transactions at Tactile Systems Technology

In other news, CEO Sheri Louise Dodd sold 15,240 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $28.30, for a total transaction of $431,292.00. Following the sale, the chief executive officer directly owned 254,878 shares of the company's stock, valued at $7,213,047.40. This represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Kristie Burns sold 6,246 shares of the business's stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total transaction of $180,759.24. Following the completion of the transaction, the vice president owned 82,581 shares of the company's stock, valued at $2,389,894.14. This trade represents a 7.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 54,768 shares of company stock worth $1,548,252. Corporate insiders own 2.10% of the company's stock.

Tactile Systems Technology Stock Performance

Shares of NASDAQ:TCMD opened at $24.84 on Thursday. The business has a fifty day moving average of $25.20 and a 200-day moving average of $26.82. Tactile Systems Technology, Inc. has a twelve month low of $9.34 and a twelve month high of $37.77. The firm has a market cap of $560.39 million, a PE ratio of 28.23 and a beta of 0.82.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last issued 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 return on equity of 9.70% and a net margin of 5.91%.The company had revenue of $75.27 million for the quarter, compared to analyst estimates of $70.57 million. On average, analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.

Tactile Systems Technology Company 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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