Counterpoint Mutual Funds LLC Sells 95,622 Shares of Tactile Systems Technology, Inc. $TCMD

Counterpoint Mutual Funds LLC lessened its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 81.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 21,308 shares of the company’s stock after selling 95,622 shares during the period. Counterpoint Mutual Funds LLC owned 0.09% of Tactile Systems Technology worth $557,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Next Century Growth Investors LLC bought a new position in shares of Tactile Systems Technology in the fourth quarter worth about $11,309,000. Marshall Wace LLP purchased a new stake in shares of Tactile Systems Technology during the fourth quarter worth about $7,700,000. Janus Henderson Group PLC bought a new stake in Tactile Systems Technology during the 4th quarter valued at approximately $5,503,000. LSV Asset Management raised its stake in Tactile Systems Technology by 119.8% during the 4th quarter. LSV Asset Management now owns 323,004 shares of the company’s stock valued at $9,367,000 after purchasing an additional 176,059 shares during the period. Finally, Trexquant Investment LP purchased a new position in Tactile Systems Technology in the 4th quarter worth approximately $4,895,000. 83.43% of the stock is owned by institutional investors.

Insider Activity

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

Tactile Systems Technology Stock Performance

Shares of TCMD stock opened at $31.35 on Friday. Tactile Systems Technology, Inc. has a 12-month low of $9.41 and a 12-month high of $37.77. The stock’s 50-day moving average price is $25.72 and its 200-day moving average price is $27.20. The stock has a market capitalization of $707.26 million, a price-to-earnings ratio of 35.63 and a beta of 0.79.

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 during the quarter, compared to analysts’ expectations of $70.57 million. Tactile Systems Technology had a return on equity of 9.70% and a net margin of 5.91%. As a group, research analysts predict that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.