Globeflex Capital L P Cuts Stake in Tactile Systems Technology, Inc. $TCMD

Globeflex Capital L P reduced its position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 7.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,298 shares of the company’s stock after selling 18,944 shares during the quarter. Globeflex Capital L P’s holdings in Tactile Systems Technology were worth $5,809,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TCMD. Caitong International Asset Management Co. Ltd bought a new position in Tactile Systems Technology during the 4th quarter worth about $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Tactile Systems Technology in the 4th quarter worth approximately $36,000. Global Retirement Partners LLC purchased a new stake in shares of Tactile Systems Technology in the 4th quarter worth approximately $37,000. Russell Investments Group Ltd. boosted its stake in shares of Tactile Systems Technology by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock valued at $29,000 after purchasing an additional 1,993 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Tactile Systems Technology by 302.6% during the third quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after purchasing an additional 1,743 shares in the last quarter. 83.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Elaine M. Birkemeyer sold 4,631 shares of the company’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 transaction, the chief financial officer directly owned 130,188 shares of the company’s stock, valued at approximately $3,188,304.12. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.10% of the company’s stock.

Tactile Systems Technology Stock Down 2.8%

Shares of Tactile Systems Technology stock opened at $27.62 on Thursday. The company has a market cap of $623.11 million, a P/E ratio of 31.39 and a beta of 0.79. The firm’s 50 day moving average price is $27.06 and its 200-day moving average price is $27.19. Tactile Systems Technology, Inc. has a 52-week low of $9.60 and a 52-week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, May 4th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $75.27 million for the quarter, compared to analysts’ expectations of $70.57 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. As a group, equities research analysts forecast that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TCMD. Weiss Ratings downgraded shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. B. Riley Financial upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating and lifted their price target for the company from $32.00 to $36.00 in a report on Thursday, May 7th. Finally, BTIG Research reissued a “buy” rating and issued a $40.00 price target on shares of Tactile Systems Technology in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.60.

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.