Punch & Associates Investment Management Inc. Buys 27,850 Shares of Tactile Systems Technology, Inc. $TCMD

Punch & Associates Investment Management Inc. boosted its stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 8.0% during the fourth quarter, Holdings Channel reports. The fund owned 373,975 shares of the company’s stock after acquiring an additional 27,850 shares during the period. Punch & Associates Investment Management Inc.’s holdings in Tactile Systems Technology were worth $10,845,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in Tactile Systems Technology during the 4th quarter worth about $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Tactile Systems Technology in the 4th quarter valued at about $36,000. Global Retirement Partners LLC bought a new position in shares of Tactile Systems Technology in the 4th quarter valued at about $37,000. Russell Investments Group Ltd. boosted its stake in shares of 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 purchasing an additional 1,993 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of 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 purchasing an additional 1,743 shares during the last quarter. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Price Performance

Shares of NASDAQ:TCMD opened at $26.43 on Wednesday. The company has a market capitalization of $596.16 million, a price-to-earnings ratio of 30.03 and a beta of 0.83. The firm’s 50 day simple moving average is $24.72 and its 200 day simple moving average is $27.07. Tactile Systems Technology, Inc. has a fifty-two week low of $9.41 and a fifty-two week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.08) earnings per share 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 analyst estimates of $70.57 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. Equities research analysts expect that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on TCMD shares. Weiss Ratings lowered shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and raised their target price for the company from $32.00 to $36.00 in a research note on Thursday, May 7th. Lake Street Capital set a $40.00 target price on shares of Tactile Systems Technology and gave the company a “buy” rating in a research note on Wednesday, February 18th. Piper Sandler raised their target price on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $40.00 target price on shares of Tactile Systems Technology in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.60.

Insider Buying and Selling

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 4,631 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $24.49, for a total transaction of $113,413.19. Following the sale, the chief financial officer directly owned 130,188 shares in the company, valued at approximately $3,188,304.12. This trade represents a 3.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.10% of the company’s stock.

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.