UBS Group AG trimmed its position in Tactile Systems Technology, Inc. (NASDAQ:TCMD – Free Report) by 46.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,715 shares of the company’s stock after selling 168,372 shares during the quarter. UBS Group AG’s holdings in Tactile Systems Technology were worth $5,734,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in shares of Tactile Systems Technology by 1,594.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after buying an additional 1,993 shares during the period. Quarry LP lifted its holdings in Tactile Systems Technology by 302.6% in the third quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after buying an additional 1,743 shares during the period. Aquatic Capital Management LLC acquired a new position in Tactile Systems Technology in the third quarter valued at approximately $47,000. BNP Paribas Financial Markets boosted its stake in Tactile Systems Technology by 95.8% in the third quarter. BNP Paribas Financial Markets now owns 4,526 shares of the company’s stock valued at $63,000 after acquiring an additional 2,214 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Tactile Systems Technology during the 4th quarter worth $86,000. 83.43% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Tactile Systems Technology news, VP Kristie Burns sold 6,246 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total value of $180,759.24. Following the completion of the transaction, the vice president directly owned 82,581 shares of the company’s stock, valued at approximately $2,389,894.14. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elaine M. Birkemeyer sold 7,701 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total value of $222,866.94. Following the completion of the transaction, the chief financial officer directly owned 134,819 shares of the company’s stock, valued at approximately $3,901,661.86. The trade was a 5.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, 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
Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $75.27 million for the quarter, compared to the consensus estimate of $70.57 million. Equities analysts forecast that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
TCMD has been the subject of several recent research reports. B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their target price for the company from $32.00 to $36.00 in a research report on Thursday, May 7th. Piper Sandler raised their price target on Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. BTIG Research lifted their price objective on Tactile Systems Technology from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Lake Street Capital set a $40.00 price objective on Tactile Systems Technology and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings lowered Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. 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’s stock. Based on data from MarketBeat, Tactile Systems Technology currently has an average rating of “Moderate Buy” and an average price target of $38.60.
View Our Latest Stock Analysis on Tactile Systems Technology
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.
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