Rice Hall James & Associates LLC Acquires Shares of 74,022 Tactile Systems Technology, Inc. $TCMD

Rice Hall James & Associates LLC acquired a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,022 shares of the company’s stock, valued at approximately $2,204,000.

Other hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tactile Systems Technology during the 4th quarter worth about $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Tactile Systems Technology in the 4th quarter valued at about $36,000. Global Retirement Partners LLC bought a new position in Tactile Systems Technology in the 4th quarter valued at about $37,000. Russell Investments Group Ltd. raised its holdings in Tactile Systems Technology by 1,594.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock valued at $29,000 after acquiring an additional 1,993 shares during the period. Finally, Quarry LP lifted its position in Tactile Systems Technology by 302.6% during the third quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after acquiring an additional 1,743 shares during the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. B. Riley Financial upgraded 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 report on Thursday, May 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Tactile Systems Technology in a report on Monday, August 3rd. BTIG Research reduced their price target 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. Finally, Wall Street Zen downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Tactile Systems Technology currently has an average rating of “Moderate Buy” and a consensus price target of $38.40.

Tactile Systems Technology Stock Performance

NASDAQ:TCMD opened at $23.85 on Wednesday. Tactile Systems Technology, Inc. has a 52 week low of $12.50 and a 52 week high of $37.77. The firm’s 50-day simple moving average is $28.01 and its 200 day simple moving average is $26.84. The firm has a market cap of $540.20 million, a price-to-earnings ratio of 22.08 and a beta of 0.81.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.20. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. The firm had revenue of $85.70 million during the quarter, compared to the consensus estimate of $85.52 million. Sell-side analysts anticipate that Tactile Systems Technology, Inc. will post 1.07 EPS for the current year.

Insider Buying and Selling at Tactile Systems Technology

In related news, CEO Sheri Louise Dodd sold 10,978 shares of the business’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 value of $323,192.32. Following the completion of the sale, the chief executive officer directly owned 232,907 shares in the company, valued at approximately $6,856,782.08. The trade was a 4.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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.

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.