Inspire Investing LLC Makes New Investment in Tactile Systems Technology, Inc. $TCMD

Inspire Investing LLC bought a new position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the first quarter, Holdings Channel.com reports. The fund bought 59,794 shares of the company’s stock, valued at approximately $1,562,000.

A number of other hedge funds have also modified their holdings of TCMD. Russell Investments Group Ltd. lifted its stake in shares of Tactile Systems Technology by 1,594.4% in the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after buying an additional 1,993 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Tactile Systems Technology during the 4th quarter valued at about $32,000. Quarry LP lifted its stake in Tactile Systems Technology by 302.6% in the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after purchasing an additional 1,743 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Tactile Systems Technology during the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Tactile Systems Technology during the 4th quarter worth approximately $37,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of Tactile Systems Technology 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 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 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.

Analyst Upgrades and Downgrades

Several research firms recently commented on TCMD. Weiss Ratings cut Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $32.00 to $36.00 in a research note on Thursday, May 7th. Finally, BTIG Research restated a “buy” rating and issued a $40.00 target price on shares of Tactile Systems Technology in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.60.

Tactile Systems Technology Price Performance

NASDAQ TCMD opened at $30.65 on Thursday. The stock has a market capitalization of $691.46 million, a P/E ratio of 34.83 and a beta of 0.79. The firm’s 50-day moving average is $25.46 and its two-hundred day moving average is $27.15. Tactile Systems Technology, Inc. has a 12 month low of $9.41 and a 12 month 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 company had revenue of $75.27 million for 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%. As a group, analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 EPS for the current year.

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.