First Light Asset Management LLC Acquires New Position in Tactile Systems Technology, Inc. $TCMD

First Light Asset Management LLC bought a new position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 462,562 shares of the company’s stock, valued at approximately $13,775,000. First Light Asset Management LLC owned approximately 2.04% of Tactile Systems Technology at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of Tactile Systems Technology by 2.1% in the first quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company’s stock worth $2,471,000 after purchasing an additional 3,898 shares during the period. Rhumbline Advisers raised its position in shares of Tactile Systems Technology by 4.0% during the 2nd quarter. Rhumbline Advisers now owns 37,780 shares of the company’s stock valued at $383,000 after purchasing an additional 1,441 shares during the period. American Century Companies Inc. raised its position in shares of Tactile Systems Technology by 11.2% during the 2nd quarter. American Century Companies Inc. now owns 53,264 shares of the company’s stock valued at $540,000 after purchasing an additional 5,364 shares during the period. Prudential Financial Inc. lifted its stake in shares of Tactile Systems Technology by 3.5% during the 2nd quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock valued at $247,000 after buying an additional 835 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Tactile Systems Technology during the 2nd quarter valued at $1,464,000. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Stock Performance

Shares of NASDAQ TCMD opened at $22.02 on Thursday. The company has a market cap of $498.75 million, a P/E ratio of 20.39 and a beta of 0.80. The firm’s fifty day moving average is $26.51 and its two-hundred day moving average is $26.25. Tactile Systems Technology, Inc. has a 52-week low of $13.14 and a 52-week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Monday, August 10th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.14 by $0.20. The business had revenue of $85.70 million during the quarter, compared to the consensus estimate of $85.52 million. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. As a group, analysts forecast that Tactile Systems Technology, Inc. will post 1.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on TCMD. Weiss Ratings lowered Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 31st. Wall Street Zen downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, BTIG Research dropped their price objective on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.40.

Insider Buying and Selling

In other Tactile Systems Technology news, CEO Sheri Dodd sold 10,978 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $29.44, for a total transaction of $323,192.32. Following the completion of the transaction, the chief executive officer owned 232,907 shares in the company, valued at $6,856,782.08. This trade represents a 4.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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.

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.