Punch & Associates Investment Management Inc. Reduces Stock Holdings in Tactile Systems Technology, Inc. $TCMD

Punch & Associates Investment Management Inc. reduced its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 19.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,000 shares of the company’s stock after selling 73,975 shares during the period. Punch & Associates Investment Management Inc. owned approximately 1.33% of Tactile Systems Technology worth $7,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

TCMD has been the topic of a number of research analyst reports. Weiss Ratings lowered shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. BTIG Research reissued a “buy” rating and issued a $40.00 target price on shares of Tactile Systems Technology in a research report on Thursday, May 21st. Finally, B. Riley Financial upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating and raised their target price for the stock from $32.00 to $36.00 in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.60.

Insider Buying and Selling at Tactile Systems Technology

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 4,631 shares of Tactile Systems Technology stock in a transaction dated 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 transaction, the chief financial officer owned 130,188 shares in the company, valued at approximately $3,188,304.12. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.10% of the company’s stock.

Tactile Systems Technology Price Performance

TCMD stock opened at $27.48 on Friday. The company has a market capitalization of $619.95 million, a P/E ratio of 31.23 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. The firm’s fifty day simple moving average is $27.25 and its 200-day simple moving average is $27.20.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The business had revenue of $75.27 million for the quarter, compared to analysts’ expectations 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, sell-side analysts forecast that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current year.

Tactile Systems Technology 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.