Janus Henderson Group PLC Purchases 127,942 Shares of Tactile Systems Technology, Inc. $TCMD

Janus Henderson Group PLC lifted its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 67.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 317,695 shares of the company’s stock after acquiring an additional 127,942 shares during the quarter. Janus Henderson Group PLC owned 1.41% of Tactile Systems Technology worth $8,301,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TCMD. Caitong International Asset Management Co. Ltd bought a new position in shares of Tactile Systems Technology during the 4th quarter valued at approximately $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Tactile Systems Technology during the fourth quarter valued at $36,000. Global Retirement Partners LLC purchased a new stake in Tactile Systems Technology in the fourth quarter worth $37,000. Russell Investments Group Ltd. raised 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 valued at $29,000 after buying an additional 1,993 shares during the period. Finally, Quarry LP lifted its position in shares of Tactile Systems Technology by 302.6% during the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after buying an additional 1,743 shares during the last quarter. Institutional investors own 83.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TCMD. Weiss Ratings restated a “hold (c-)” rating on shares of Tactile Systems Technology in a research note on Monday. BTIG Research reissued a “buy” rating and issued a $40.00 price target on shares of Tactile Systems Technology in a research report on Thursday, May 21st. Finally, B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $32.00 to $36.00 in a 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. Based on data from MarketBeat, Tactile Systems Technology has a consensus rating of “Moderate Buy” and an average target price of $38.60.

Insider Buying and Selling

In other news, CFO Elaine M. Birkemeyer sold 4,631 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 130,188 shares in the company, valued at $3,188,304.12. The trade was a 3.43% decrease in their position. The transaction was disclosed in a document filed 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 insiders.

Tactile Systems Technology Stock Down 0.5%

Shares of TCMD opened at $29.98 on Thursday. Tactile Systems Technology, Inc. has a twelve month low of $11.87 and a twelve month high of $37.77. The stock has a market cap of $676.35 million, a PE ratio of 34.07 and a beta of 0.81. The business’s 50-day moving average price is $27.86 and its 200-day moving average price is $27.08.

Tactile Systems Technology (NASDAQ:TCMD) last released 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). The firm had revenue of $75.27 million during the quarter, compared to the consensus estimate of $70.57 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. Analysts expect that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current fiscal year.

Tactile Systems Technology 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.