Range Financial Group LLC Acquires Shares of 44,534 Tactile Systems Technology, Inc. $TCMD

Range Financial Group LLC bought a new position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 44,534 shares of the company’s stock, valued at approximately $1,291,000. Range Financial Group LLC owned approximately 0.20% of Tactile Systems Technology as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. increased its stake in shares of Tactile Systems Technology by 42.7% in the second quarter. Federated Hermes Inc. now owns 551,561 shares of the company’s stock worth $5,593,000 after acquiring an additional 165,163 shares during the last quarter. Norges Bank acquired a new stake in Tactile Systems Technology during the second quarter valued at $1,464,000. LSV Asset Management boosted its position in Tactile Systems Technology by 304.8% during the third quarter. LSV Asset Management now owns 146,945 shares of the company’s stock valued at $2,034,000 after purchasing an additional 110,645 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in Tactile Systems Technology by 297.3% in the third quarter. Bridgeway Capital Management LLC now owns 133,878 shares of the company’s stock valued at $1,853,000 after purchasing an additional 100,178 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY grew its stake in Tactile Systems Technology by 5.9% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock valued at $16,413,000 after purchasing an additional 89,600 shares in the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TCMD shares. Lake Street Capital set a $40.00 price target on Tactile Systems Technology and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Raymond James Financial set a $35.00 price target on Tactile Systems Technology in a research note on Monday, January 5th. Piper Sandler increased their price objective on Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. B. Riley Financial raised their price objective on shares of Tactile Systems Technology from $16.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Finally, Zacks Research cut shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Tactile Systems Technology presently has an average rating of “Moderate Buy” and an average target price of $37.40.

Insider Buying and Selling

In other Tactile Systems Technology news, VP Kristie Burns sold 6,246 shares of the stock in a transaction that occurred 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 transaction, the vice president owned 82,581 shares in the company, valued at $2,389,894.14. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sheri Louise Dodd sold 10,993 shares of Tactile Systems Technology stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 243,885 shares in the company, valued at approximately $7,058,031.90. This represents a 4.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 55,276 shares of company stock worth $1,583,099. 2.50% of the stock is currently owned by insiders.

Tactile Systems Technology Price Performance

NASDAQ TCMD opened at $25.88 on Tuesday. Tactile Systems Technology, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $37.77. The stock’s 50-day moving average is $28.22 and its two-hundred day moving average is $24.35. The firm has a market cap of $588.77 million, a P/E ratio of 31.18 and a beta of 0.97.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $103.59 million during the quarter, compared to analysts’ expectations of $93.80 million. Tactile Systems Technology had a return on equity of 9.26% and a net margin of 5.79%. On average, equities analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

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.