Mangrove Partners IM LLC Acquires Shares of 27,212 Tactile Systems Technology, Inc. $TCMD

Mangrove Partners IM LLC bought a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the 4th quarter, Holdings Channel reports. The institutional investor bought 27,212 shares of the company’s stock, valued at approximately $789,000.

Several other large investors have also bought and sold shares of the business. Verition Fund Management LLC acquired a new position in Tactile Systems Technology in the 4th quarter worth about $1,292,000. Next Century Growth Investors LLC bought a new stake in Tactile Systems Technology in the fourth quarter worth approximately $11,309,000. Barclays PLC increased its holdings in Tactile Systems Technology by 26.2% in the fourth quarter. Barclays PLC now owns 53,235 shares of the company’s stock worth $1,544,000 after purchasing an additional 11,037 shares in the last quarter. Marshall Wace LLP bought a new stake in Tactile Systems Technology in the fourth quarter worth approximately $7,700,000. Finally, First Trust Advisors LP increased its holdings in shares of Tactile Systems Technology by 45.3% during the fourth quarter. First Trust Advisors LP now owns 16,282 shares of the company’s stock valued at $472,000 after acquiring an additional 5,078 shares in the last quarter. 83.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tactile Systems Technology

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 4,631 shares of Tactile Systems Technology stock in a transaction on Monday, May 11th. The stock was 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 owned 130,188 shares of the company’s stock, valued at approximately $3,188,304.12. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TCMD shares. B. Riley Financial upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating and increased their target price for the stock from $32.00 to $36.00 in a report on Thursday, May 7th. BTIG Research reissued a “buy” rating and issued a $40.00 price objective on shares of Tactile Systems Technology in a research report on Thursday, May 21st. Weiss Ratings cut Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Lake Street Capital set a $40.00 price objective on Tactile Systems Technology and gave the stock a “buy” rating in a report on Wednesday, February 18th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Tactile Systems Technology currently has an average rating of “Moderate Buy” and an average target price of $38.60.

Tactile Systems Technology Stock Performance

NASDAQ TCMD opened at $26.43 on Wednesday. Tactile Systems Technology, Inc. has a fifty-two week low of $9.41 and a fifty-two week high of $37.77. The stock has a 50 day simple moving average of $24.72 and a two-hundred day simple moving average of $27.07. The stock has a market cap of $596.16 million, a P/E ratio of 30.03 and a beta of 0.83.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, May 4th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $75.27 million during the quarter, compared to analysts’ expectations of $70.57 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. Sell-side analysts predict that Tactile Systems Technology, Inc. will post 1.11 earnings per share 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.