First Light Asset Management LLC Sells 1,303,073 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

First Light Asset Management LLC cut its stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 49.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,338,902 shares of the company’s stock after selling 1,303,073 shares during the quarter. Tactile Systems Technology comprises about 1.4% of First Light Asset Management LLC’s portfolio, making the stock its 29th biggest position. First Light Asset Management LLC owned approximately 5.64% of Tactile Systems Technology worth $15,986,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in TCMD. BNP Paribas Financial Markets grew its stake in Tactile Systems Technology by 117.7% in the fourth quarter. BNP Paribas Financial Markets now owns 46,796 shares of the company’s stock valued at $669,000 after purchasing an additional 25,305 shares during the last quarter. Cadian Capital Management LP purchased a new position in shares of Tactile Systems Technology in the 4th quarter worth approximately $24,954,000. Wasatch Advisors LP bought a new position in shares of Tactile Systems Technology during the 1st quarter worth approximately $8,687,000. Pinnacle Associates Ltd. raised its stake in shares of Tactile Systems Technology by 30.2% during the 1st quarter. Pinnacle Associates Ltd. now owns 74,611 shares of the company’s stock worth $1,212,000 after acquiring an additional 17,328 shares in the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in Tactile Systems Technology during the first quarter valued at approximately $167,000. 83.43% of the stock is owned by institutional investors.

Tactile Systems Technology Price Performance

Shares of NASDAQ TCMD opened at $14.29 on Tuesday. Tactile Systems Technology, Inc. has a fifty-two week low of $9.69 and a fifty-two week high of $16.95. The company has a market cap of $339.56 million, a PE ratio of 11.91 and a beta of 1.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.89 and a current ratio of 4.44. The business has a 50-day simple moving average of $13.09 and a two-hundred day simple moving average of $13.47.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, August 5th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. Tactile Systems Technology had a net margin of 11.57% and a return on equity of 16.94%. The company had revenue of $73.22 million during the quarter, compared to analysts’ expectations of $72.62 million. As a group, equities analysts expect that Tactile Systems Technology, Inc. will post 0.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday.

About Tactile Systems Technology

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.