Janus Henderson Group PLC Acquires 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 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 317,695 shares of the company’s stock after purchasing an additional 127,942 shares during the quarter. Janus Henderson Group PLC’s holdings in Tactile Systems Technology were worth $8,301,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Quantinno Capital Management LP raised its stake in Tactile Systems Technology by 1.3% in the first quarter. Quantinno Capital Management LP now owns 53,612 shares of the company’s stock valued at $1,401,000 after purchasing an additional 684 shares in the last quarter. Prudential Financial Inc. grew its stake in Tactile Systems Technology by 3.5% in the 2nd quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock worth $247,000 after buying an additional 835 shares in the last quarter. Strs Ohio increased its holdings in shares of Tactile Systems Technology by 4.1% in the 1st quarter. Strs Ohio now owns 22,700 shares of the company’s stock worth $593,000 after buying an additional 900 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Tactile Systems Technology during the 4th quarter valued at $32,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Tactile Systems Technology by 5.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,957 shares of the company’s stock valued at $695,000 after buying an additional 1,215 shares in the last quarter. 83.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on TCMD shares. BTIG Research reaffirmed a “buy” rating and set a $40.00 price objective on shares of Tactile Systems Technology in a report on Thursday, May 21st. B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their target price for the stock from $32.00 to $36.00 in a research note on Thursday, May 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Tactile Systems Technology in a research note on Monday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Tactile Systems Technology 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 dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Trading Down 0.5%

Tactile Systems Technology stock opened at $29.98 on Thursday. Tactile Systems Technology, Inc. has a 12 month low of $11.87 and a 12 month high of $37.77. The company has a market capitalization of $676.35 million, a price-to-earnings ratio of 34.07 and a beta of 0.81. The business’s fifty day simple moving average is $27.86 and its two-hundred day simple moving average is $27.08.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company had revenue of $75.27 million for 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%. On average, equities research analysts predict that Tactile Systems Technology, Inc. will post 1.11 EPS for the current 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.