Vanguard Group Inc. Grows Position in Tactile Systems Technology, Inc. $TCMD

Vanguard Group Inc. grew its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 4.8% in the 4th quarter, HoldingsChannel reports. The firm owned 1,651,170 shares of the company’s stock after purchasing an additional 76,198 shares during the quarter. Vanguard Group Inc. owned approximately 0.07% of Tactile Systems Technology worth $47,884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Paradigm Capital Management Inc. NY increased its position in shares of Tactile Systems Technology by 5.9% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock worth $16,413,000 after acquiring an additional 89,600 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Tactile Systems Technology by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,191,207 shares of the company’s stock valued at $16,486,000 after purchasing an additional 24,001 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Tactile Systems Technology by 42.7% in the 2nd quarter. Federated Hermes Inc. now owns 551,561 shares of the company’s stock valued at $5,593,000 after purchasing an additional 165,163 shares during the last quarter. UBS Group AG lifted its holdings in Tactile Systems Technology by 9.3% during the 3rd quarter. UBS Group AG now owns 366,087 shares of the company’s stock worth $5,067,000 after buying an additional 31,224 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Tactile Systems Technology by 9.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 345,205 shares of the company’s stock worth $4,778,000 after buying an additional 29,289 shares during the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Stock Down 1.3%

NASDAQ:TCMD opened at $22.74 on Friday. The stock’s 50 day moving average price is $25.49 and its 200 day moving average price is $26.55. The company has a market capitalization of $513.01 million, a PE ratio of 25.84 and a beta of 0.82. Tactile Systems Technology, Inc. has a 52-week low of $9.34 and a 52-week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Tactile Systems Technology had a return on equity of 9.70% and a net margin of 5.91%.The firm had revenue of $75.27 million for the quarter, compared to analysts’ expectations of $70.57 million. As a group, sell-side analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sheri Louise Dodd sold 10,993 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total transaction of $318,137.42. Following the completion of the sale, the chief executive officer owned 243,885 shares in the company, valued at $7,058,031.90. This represents a 4.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kristie Burns sold 6,246 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total transaction of $180,759.24. Following the sale, the vice president owned 82,581 shares of the company’s stock, valued at approximately $2,389,894.14. This represents a 7.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,768 shares of company stock worth $1,548,252 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings downgraded Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Piper Sandler increased their price target on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. BTIG Research increased their price target on shares of Tactile Systems Technology from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Lake Street Capital set a $40.00 price target on shares of Tactile Systems Technology and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and increased their price target for the company from $32.00 to $36.00 in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.60.

About Tactile Systems Technology

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.