Globeflex Capital L P lowered its stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD – Free Report) by 7.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 222,298 shares of the company’s stock after selling 18,944 shares during the quarter. Globeflex Capital L P owned 0.99% of Tactile Systems Technology worth $5,809,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors 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 buying an additional 1,993 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth about $32,000. Quarry LP lifted its holdings in shares of 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth about $36,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Tactile Systems Technology during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on TCMD. BTIG Research reissued a “buy” rating and issued a $40.00 price objective on shares of Tactile Systems Technology in a research report on Thursday, May 21st. B. Riley Financial upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating and boosted their target price for the company from $32.00 to $36.00 in a research report on Thursday, May 7th. Finally, Weiss Ratings cut Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.60.
Insider Activity at Tactile Systems Technology
In other news, CFO Elaine M. Birkemeyer sold 4,631 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $24.49, for a total transaction of $113,413.19. Following the transaction, the chief financial officer directly owned 130,188 shares of the company’s stock, valued at approximately $3,188,304.12. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.
Tactile Systems Technology Trading Down 2.8%
Shares of TCMD opened at $27.62 on Thursday. The firm has a fifty day moving average price of $27.06 and a 200-day moving average price of $27.19. The firm has a market capitalization of $623.11 million, a P/E ratio of 31.39 and a beta of 0.79. Tactile Systems Technology, Inc. has a 12-month low of $9.60 and a 12-month high of $37.77.
Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) last announced its quarterly earnings data 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 net margin of 5.91% and a return on equity of 9.70%. The company had revenue of $75.27 million for the quarter, compared to the consensus estimate of $70.57 million. Analysts predict that Tactile Systems Technology, Inc. will post 1.11 earnings per share 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.
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