389,980 Shares in Tactile Systems Technology, Inc. $TCMD Acquired by Next Century Growth Investors LLC

Next Century Growth Investors LLC acquired a new position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 389,980 shares of the company’s stock, valued at approximately $11,309,000. Next Century Growth Investors LLC owned about 1.75% of Tactile Systems Technology at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in shares of Tactile Systems Technology by 1,594.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after purchasing an additional 1,993 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tactile Systems Technology during the 4th quarter worth approximately $32,000. Quarry LP raised its position in shares of Tactile Systems Technology by 302.6% during the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after purchasing an additional 1,743 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Tactile Systems Technology during the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Tactile Systems Technology during the 4th quarter worth approximately $37,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TCMD. B. Riley Financial upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $32.00 to $36.00 in a research report on Thursday, May 7th. Lake Street Capital set a $40.00 target price on shares of Tactile Systems Technology and gave the stock a “buy” rating in a research note on Wednesday, February 18th. BTIG Research reaffirmed a “buy” rating and issued a $40.00 target price on shares of Tactile Systems Technology in a research note on Thursday, May 21st. Weiss Ratings cut shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, Piper Sandler lifted their target price on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.60.

Tactile Systems Technology Stock Down 0.2%

TCMD stock opened at $26.31 on Friday. The company has a market cap of $593.45 million, a price-to-earnings ratio of 29.90 and a beta of 0.83. The business has a fifty day simple moving average of $24.65 and a 200-day simple moving average of $27.06. Tactile Systems Technology, Inc. has a 52 week low of $9.41 and a 52 week high of $37.77.

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

Insider Activity at Tactile Systems Technology

In other news, CFO Elaine M. Birkemeyer sold 4,631 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $24.49, for a total transaction of $113,413.19. Following the completion of the sale, the chief financial officer directly owned 130,188 shares in the company, valued at $3,188,304.12. This represents a 3.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is currently owned by insiders.

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.