Rice Hall James & Associates LLC Invests $2.20 Million in Tactile Systems Technology, Inc. $TCMD

Rice Hall James & Associates LLC acquired a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 74,022 shares of the company’s stock, valued at approximately $2,204,000. Rice Hall James & Associates LLC owned about 0.33% of Tactile Systems Technology as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Quantinno Capital Management LP grew its position in Tactile Systems Technology by 1.3% in the first quarter. Quantinno Capital Management LP now owns 53,612 shares of the company’s stock valued at $1,401,000 after purchasing an additional 684 shares in the last quarter. Prudential Financial Inc. increased its stake in Tactile Systems Technology by 3.5% in the 2nd quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock valued at $247,000 after buying an additional 835 shares during the last quarter. Versant Capital Management Inc lifted its position in Tactile Systems Technology by 36.4% during the 2nd quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock worth $98,000 after buying an additional 876 shares in the last quarter. Strs Ohio boosted its stake in shares of Tactile Systems Technology by 4.1% during the 1st quarter. Strs Ohio now owns 22,700 shares of the company’s stock worth $593,000 after buying an additional 900 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Tactile Systems Technology during the 4th quarter worth about $32,000. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Price Performance

Shares of TCMD opened at $23.85 on Wednesday. The firm has a 50-day moving average of $28.01 and a 200-day moving average of $26.84. Tactile Systems Technology, Inc. has a one year low of $12.50 and a one year high of $37.77. The company has a market cap of $540.20 million, a PE ratio of 22.08 and a beta of 0.81.

Tactile Systems Technology (NASDAQ:TCMD) last issued 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 net margin of 7.10% and a return on equity of 11.49%. The company had revenue of $85.70 million for the quarter, compared to analysts’ expectations of $85.52 million. Analysts expect that Tactile Systems Technology, Inc. will post 1.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on TCMD. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tactile Systems Technology in a research report on Monday, August 3rd. BTIG Research reduced their price target on 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. Wall Street Zen downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $32.00 to $36.00 in a research report on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.40.

Insiders Place Their Bets

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 10,978 shares of the company’s stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, 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 company 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.