Counterpoint Mutual Funds LLC Decreases Holdings in Tactile Systems Technology, Inc. $TCMD

Counterpoint Mutual Funds LLC decreased its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 81.8% in the first quarter, Holdings Channel reports. The fund owned 21,308 shares of the company’s stock after selling 95,622 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Tactile Systems Technology were worth $557,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prudential Financial Inc. increased its stake in Tactile Systems Technology by 3.5% during the second quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock worth $247,000 after acquiring an additional 835 shares during the last quarter. Strs Ohio lifted its stake in shares of Tactile Systems Technology by 4.1% in the 1st quarter. Strs Ohio now owns 22,700 shares of the company’s stock valued at $593,000 after purchasing an additional 900 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tactile Systems Technology in the 4th quarter valued at approximately $32,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tactile Systems Technology by 5.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,957 shares of the company’s stock worth $695,000 after purchasing an additional 1,215 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Tactile Systems Technology in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Price Performance

Tactile Systems Technology stock opened at $31.35 on Friday. The firm has a market capitalization of $707.26 million, a P/E ratio of 35.63 and a beta of 0.79. Tactile Systems Technology, Inc. has a 1-year low of $9.41 and a 1-year high of $37.77. The company’s 50-day moving average is $25.72 and its 200 day moving average is $27.20.

Tactile Systems Technology (NASDAQ:TCMD) last announced its 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). The business 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%. Research analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 130,188 shares of the company’s stock, valued at approximately $3,188,304.12. This trade represents a 3.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BTIG Research reissued a “buy” rating and set a $40.00 target price on shares of Tactile Systems Technology in a research report on Thursday, May 21st. Weiss Ratings downgraded Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Finally, B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $32.00 to $36.00 in a research note 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 given a Hold rating to the company’s stock. According to MarketBeat.com, Tactile Systems Technology has an average rating of “Moderate Buy” and a consensus price target of $38.60.

About Tactile Systems Technology

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.