Paradigm Capital Management Inc. NY Invests $6.83 Million in Tactile Systems Technology, Inc. $TCMD

Paradigm Capital Management Inc. NY purchased a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 229,199 shares of the company’s stock, valued at approximately $6,826,000. Paradigm Capital Management Inc. NY owned about 1.01% of Tactile Systems Technology at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake 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 acquiring an additional 1,993 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Tactile Systems Technology in the fourth quarter worth $32,000. Quarry LP increased its stake 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 purchasing an additional 1,743 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Tactile Systems Technology in the fourth quarter valued at $36,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Tactile Systems Technology during the fourth quarter valued at about $37,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Sheri Louise Dodd sold 10,978 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $29.44, for a total value of $323,192.32. Following the transaction, the chief executive officer owned 232,907 shares in the company, valued at $6,856,782.08. The trade was a 4.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TCMD shares. Weiss Ratings upgraded Tactile Systems Technology from a “hold (c-)” rating to a “hold (c+)” rating in a report on Monday, August 17th. B. Riley Financial upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $32.00 to $36.00 in a report 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 cut their target price on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating on the stock in a 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 stock. According to MarketBeat.com, Tactile Systems Technology presently has an average rating of “Moderate Buy” and an average price target of $38.40.

Tactile Systems Technology Price Performance

NASDAQ:TCMD opened at $23.36 on Tuesday. Tactile Systems Technology, Inc. has a one year low of $12.81 and a one year high of $37.77. The company has a market cap of $529.10 million, a PE ratio of 21.63 and a beta of 0.81. The firm has a 50-day moving average of $27.80 and a 200-day moving average of $26.70.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.20. The company had revenue of $85.70 million for the quarter, compared to analyst estimates of $85.52 million. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%. On average, equities research analysts expect that Tactile Systems Technology, Inc. will post 1.07 earnings per share for the current fiscal year.

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.