Two Sigma Investments LP Sells 31,793 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Two Sigma Investments LP reduced its position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 46.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,094 shares of the company’s stock after selling 31,793 shares during the quarter. Two Sigma Investments LP’s holdings in Tactile Systems Technology were worth $618,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in Tactile Systems Technology by 9.9% during the fourth quarter. Principal Financial Group Inc. now owns 20,401 shares of the company’s stock worth $349,000 after acquiring an additional 1,836 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Tactile Systems Technology by 163.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 52,227 shares of the company’s stock worth $895,000 after acquiring an additional 32,378 shares in the last quarter. Bank of America Corp DE boosted its stake in Tactile Systems Technology by 67.5% during the fourth quarter. Bank of America Corp DE now owns 101,867 shares of the company’s stock worth $1,745,000 after acquiring an additional 41,037 shares in the last quarter. Millennium Management LLC bought a new position in Tactile Systems Technology during the fourth quarter worth $2,793,000. Finally, Dimensional Fund Advisors LP boosted its stake in Tactile Systems Technology by 8.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company’s stock worth $15,444,000 after acquiring an additional 67,934 shares in the last quarter. 83.43% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Elaine M. Birkemeyer sold 2,921 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $9.94, for a total value of $29,034.74. Following the completion of the sale, the chief financial officer now owns 99,111 shares in the company, valued at $985,163.34. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William W. Burke sold 3,300 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $9.67, for a total transaction of $31,911.00. Following the sale, the director now owns 48,520 shares of the company’s stock, valued at $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 currently owned by corporate insiders.

Tactile Systems Technology Stock Performance

TCMD opened at $10.04 on Monday. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average price is $11.85 and its two-hundred day moving average price is $14.86. Tactile Systems Technology, Inc. has a 1-year low of $8.61 and a 1-year high of $21.10. The company has a market cap of $233.41 million, a price-to-earnings ratio of 14.34 and a beta of 0.94.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, May 5th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $61.27 million during the quarter, compared to analysts’ expectations 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 prior year, the company earned ($0.05) EPS. On average, analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. B. Riley raised shares of Tactile Systems Technology to a “hold” rating in a research note on Wednesday, May 7th. Piper Sandler downgraded shares of Tactile Systems Technology from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $25.00 to $14.00 in a report on Tuesday, May 6th. Finally, Wall Street Zen downgraded shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Tactile Systems Technology presently has an average rating of “Hold” and an average target price of $16.00.

Tactile Systems Technology Company 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.