Range Financial Group LLC Makes New Investment in Tactile Systems Technology, Inc. $TCMD

Range Financial Group LLC purchased a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 44,534 shares of the company’s stock, valued at approximately $1,291,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. increased 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 purchasing an additional 1,993 shares during the period. Quarry LP boosted its stake in 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 purchasing an additional 1,743 shares during the period. Aquatic Capital Management LLC acquired a new stake in Tactile Systems Technology in the 3rd quarter valued at approximately $47,000. BNP Paribas Financial Markets grew its holdings in Tactile Systems Technology by 95.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,526 shares of the company’s stock valued at $63,000 after buying an additional 2,214 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in Tactile Systems Technology in the 3rd quarter worth approximately $144,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on TCMD. Zacks Research lowered Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. B. Riley Financial raised their price objective on shares of Tactile Systems Technology from $16.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Raymond James Financial set a $35.00 target price on shares of Tactile Systems Technology in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Friday. Finally, Piper Sandler increased their price target on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Tactile Systems Technology has a consensus rating of “Moderate Buy” and an average price target of $37.40.

Tactile Systems Technology Stock Down 1.7%

Shares of TCMD opened at $25.88 on Tuesday. The stock’s 50-day moving average price is $28.22 and its 200 day moving average price is $24.35. The firm has a market capitalization of $588.77 million, a price-to-earnings ratio of 31.18 and a beta of 0.97. Tactile Systems Technology, Inc. has a 12-month low of $8.61 and a 12-month high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Tactile Systems Technology had a return on equity of 9.26% and a net margin of 5.79%.The company had revenue of $103.59 million during the quarter, compared to the consensus estimate of $93.80 million. Equities research analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Insiders Place Their Bets

In other Tactile Systems Technology news, VP Kristie Burns sold 6,246 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total value of $180,759.24. Following the sale, the vice president owned 82,581 shares of the company’s stock, valued at $2,389,894.14. The trade was a 7.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Elaine M. Birkemeyer sold 7,701 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total transaction of $222,866.94. Following the completion of the transaction, the chief financial officer owned 134,819 shares of the company’s stock, valued at approximately $3,901,661.86. This represents a 5.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 55,276 shares of company stock worth $1,583,099 over the last 90 days. Corporate insiders own 2.50% 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.