Man Group plc Acquires Shares of 53,610 Tactile Systems Technology, Inc. $TCMD

Man Group plc bought a new position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 53,610 shares of the company’s stock, valued at approximately $1,597,000. Man Group plc owned 0.24% of Tactile Systems Technology at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TCMD. Russell Investments Group Ltd. boosted its stake in shares of Tactile Systems Technology by 1,594.4% in the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock valued at $29,000 after buying an additional 1,993 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Tactile Systems Technology in the fourth quarter worth $32,000. Quarry LP raised its position in Tactile Systems Technology by 302.6% in the third quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after acquiring an additional 1,743 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Tactile Systems Technology in the fourth quarter valued at $36,000. Finally, Global Retirement Partners LLC acquired a new stake in Tactile Systems Technology in the fourth quarter valued at $37,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Sheri Louise Dodd sold 10,978 shares of the company’s stock in a transaction on Monday, August 10th. The stock was 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 represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Weiss Ratings cut shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and raised their price objective for the company from $32.00 to $36.00 in a research note on Thursday, May 7th. Wall Street Zen lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, BTIG Research dropped their target price on shares of Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Tactile Systems Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.40.

Tactile Systems Technology Price Performance

Shares of TCMD opened at $22.41 on Thursday. Tactile Systems Technology, Inc. has a 1-year low of $12.91 and a 1-year high of $37.77. The stock has a market cap of $507.59 million, a price-to-earnings ratio of 20.75 and a beta of 0.80. The firm has a 50 day simple moving average of $27.30 and a 200-day simple moving average of $26.48.

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. The firm had revenue of $85.70 million for the quarter, compared to analyst estimates of $85.52 million. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%. On average, equities analysts expect that Tactile Systems Technology, Inc. will post 1.1 earnings per share for the current fiscal 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.