Is it Still Safe to Own Tactile Systems Technology, Inc. (TCMD) Shares?

Wasatch Global Investors, an investment management firm, published its “Wasatch Micro Cap Value Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. During the fourth quarter of 2021, the Wasatch Micro Cap Value Fund—Investor Class rose 0.98% and outperformed the benchmark Russell Microcap® Index, which declined -2.66%. For the full year, the Fund gained 26.78% as the benchmark added 19.34%. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Wasatch Micro Cap Value Fund, in its Q4 2021 investor letter, mentioned Tactile Systems Technology, Inc. (NASDAQ: TCMD) and discussed its stance on the firm. Tactile Systems Technology, Inc. is a Minneapolis, Minnesota-based medical technology company with a $385.5 million market capitalization. TCMD delivered a 1.89% return since the beginning of the year, while its 12-month returns are down by -59.49%. The stock closed at $19.39 per share on March 07, 2022.

Here is what Wasatch Micro Cap Value Fund has to say about Tactile Systems Technology, Inc. in its Q4 2021 investor letter:

“Another significant detractor was Tactile Systems Technology, Inc. (TCMD)—a developer of compression devices used at home by patients to treat non-healing wounds and reduce the swelling caused by lymphedema, a serious and often debilitating condition. We had owned the company since its IPO. The stock was down because investors— including us—were impatient over delayed sales and earnings stemming from patients’ reluctance to visit doctors amid the ongoing pandemic. Moreover, news of increased competition was the final straw in our decision to exit our position. (Current and future holdings are subject to risk.)”

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Our calculations show that Tactile Systems Technology, Inc. (NASDAQ: TCMD) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. TCMD was in 16 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 9 funds in the previous quarter. Tactile Systems Technology, Inc. (NASDAQ: TCMD) delivered a -1.97% return in the past 3 months.

In February 2021, we also shared another hedge fund’s views on TCMD in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.