Jupiter Topco LLC Makes New $11.83 Million Investment in Tactile Systems Technology, Inc. $TCMD

Jupiter Topco LLC bought a new position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the 2nd quarter, HoldingsChannel reports. The fund bought 397,278 shares of the company’s stock, valued at approximately $11,831,000.

A number of other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in Tactile Systems Technology by 2.1% during the first quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company’s stock worth $2,471,000 after purchasing an additional 3,898 shares during the last quarter. Rhumbline Advisers increased its stake in Tactile Systems Technology by 4.0% during the second quarter. Rhumbline Advisers now owns 37,780 shares of the company’s stock valued at $383,000 after purchasing an additional 1,441 shares during the last quarter. American Century Companies Inc. increased its stake in Tactile Systems Technology by 11.2% during the second quarter. American Century Companies Inc. now owns 53,264 shares of the company’s stock valued at $540,000 after purchasing an additional 5,364 shares during the last quarter. Prudential Financial Inc. increased its stake in Tactile Systems Technology by 3.5% during the second quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock valued at $247,000 after purchasing an additional 835 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Tactile Systems Technology during the second quarter worth $1,464,000. 83.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TCMD has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. BTIG Research lowered their price objective on shares of Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $32.00 to $36.00 in a research note on Thursday, May 7th. Finally, Weiss Ratings raised shares of Tactile Systems Technology from a “hold (c-)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.40.

Tactile Systems Technology Price Performance

Shares of TCMD opened at $23.16 on Friday. Tactile Systems Technology, Inc. has a 12 month low of $12.91 and a 12 month high of $37.77. The stock has a fifty day moving average price of $27.55 and a 200 day moving average price of $26.58. The company has a market cap of $524.57 million, a P/E ratio of 21.44 and a beta of 0.81.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.20. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%.The company had revenue of $85.70 million for the quarter, compared to analysts’ expectations of $85.52 million. As a group, research analysts anticipate that Tactile Systems Technology, Inc. will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sheri Louise Dodd sold 10,978 shares of Tactile Systems Technology stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.44, for a total value of $323,192.32. Following the sale, the chief executive officer directly owned 232,907 shares in the company, valued at $6,856,782.08. This trade represents a 4.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 corporate insiders.

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.