Tactile Systems Technology, Inc. $TCMD Stock Position Boosted by LSV Asset Management

LSV Asset Management raised its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 119.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 323,004 shares of the company’s stock after acquiring an additional 176,059 shares during the quarter. LSV Asset Management’s holdings in Tactile Systems Technology were worth $9,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of TCMD. Russell Investments Group Ltd. lifted its holdings 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 valued at $29,000 after acquiring an additional 1,993 shares during the last quarter. Quarry LP lifted its holdings in Tactile Systems Technology by 302.6% in the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after acquiring an additional 1,743 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Tactile Systems Technology in the 4th quarter valued at about $37,000. Aquatic Capital Management LLC acquired a new stake in Tactile Systems Technology in the 3rd quarter valued at about $47,000. Finally, BNP Paribas Financial Markets lifted its holdings in Tactile Systems Technology by 95.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,526 shares of the company’s stock valued at $63,000 after acquiring an additional 2,214 shares during the last quarter. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Stock Performance

TCMD stock opened at $24.90 on Tuesday. Tactile Systems Technology, Inc. has a one year low of $9.34 and a one year high of $37.77. The firm has a market capitalization of $561.74 million, a PE ratio of 28.30 and a beta of 0.82. The firm has a 50-day moving average of $25.04 and a two-hundred day moving average of $26.98.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. The firm had revenue of $75.27 million for the quarter, compared to analysts’ expectations of $70.57 million. On average, equities research analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TCMD shares. B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their price target for the company from $32.00 to $36.00 in a report on Thursday, May 7th. Lake Street Capital set a $40.00 price target on shares of Tactile Systems Technology and gave the company a “buy” rating in a report on Wednesday, February 18th. Piper Sandler upped their price target on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. BTIG Research reissued a “buy” rating and issued a $40.00 price target on shares of Tactile Systems Technology in a report on Thursday, May 21st. Finally, Weiss Ratings downgraded shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. One 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. Based on data from MarketBeat.com, Tactile Systems Technology currently has an average rating of “Moderate Buy” and an average price target of $38.60.

Insider Buying and Selling

In other news, CFO Elaine M. Birkemeyer sold 4,631 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $24.49, for a total value of $113,413.19. Following the completion of the sale, the chief financial officer directly owned 130,188 shares of the company’s stock, valued at $3,188,304.12. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company’s stock.

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.