Paradigm Capital Management Inc. NY Makes New Investment in Tactile Systems Technology, Inc. $TCMD

Paradigm Capital Management Inc. NY purchased a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 229,199 shares of the company’s stock, valued at approximately $6,826,000.

A number of other hedge funds have also recently made changes to their positions in TCMD. Caitong International Asset Management Co. Ltd bought a new position in shares of Tactile Systems Technology in the fourth quarter worth $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Tactile Systems Technology during the fourth quarter valued at $36,000. Global Retirement Partners LLC purchased a new position in Tactile Systems Technology during the fourth quarter worth about $37,000. Russell Investments Group Ltd. grew its position in 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 worth $29,000 after buying an additional 1,993 shares in the last quarter. Finally, Quarry LP increased its stake in Tactile Systems Technology by 302.6% in the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after acquiring an additional 1,743 shares during the last quarter. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sheri Louise Dodd sold 10,978 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the sale, the chief executive officer directly owned 232,907 shares of the company’s stock, valued at approximately $6,856,782.08. This represents a 4.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of Tactile Systems Technology from a “hold (c-)” rating to a “hold (c+)” rating in a report on Monday, August 17th. B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their price objective for the company from $32.00 to $36.00 in a research note on Thursday, May 7th. Wall Street Zen lowered Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, BTIG Research decreased their price objective on shares of Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.40.

Tactile Systems Technology Trading Down 1.9%

TCMD opened at $23.36 on Tuesday. Tactile Systems Technology, Inc. has a 12-month low of $12.81 and a 12-month high of $37.77. The company has a market cap of $529.10 million, a price-to-earnings ratio of 21.63 and a beta of 0.81. The stock has a fifty day simple moving average of $27.80 and a two-hundred day simple moving average of $26.70.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.14 by $0.20. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. The business had revenue of $85.70 million for the quarter, compared to analyst estimates of $85.52 million. On average, analysts predict that Tactile Systems Technology, Inc. will post 1.07 EPS for the current year.

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.