110,205 Shares of Tactile Systems Technology, Inc. $TCMD Acquired by Inspire Investing LLC

Key Points

• Inspire Investing acquired 110,205 shares of Tactile Systems Technology in the third quarter, worth approximately $2.46 million and representing about 0.49% of the company. Institutional investors collectively own 83.43% of TCMD.
• Analysts maintain a generally positive outlook, with four Buy ratings and two Hold ratings, an overall “Moderate Buy” consensus, and an average price target of $37.60. BTIG Research lowered its target from $39 to $35 while retaining its Buy rating.
• Tactile Systems Technology reported quarterly earnings of $0.34 per share, beating the $0.14 consensus estimate, while revenue of $85.70 million was broadly in line with expectations. The stock opened at $23.64 and has traded between $14.84 and $37.77 over the past year.

Inspire Investing LLC acquired a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 110,205 shares of the company's stock, valued at approximately $2,456,000. Inspire Investing LLC owned approximately 0.49% of Tactile Systems Technology as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Pinnacle Associates Ltd. grew its holdings in Tactile Systems Technology by 0.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 327,967 shares of the company's stock valued at $7,310,000 after buying an additional 850 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Tactile Systems Technology by 18.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,113 shares of the company's stock valued at $158,000 after acquiring an additional 1,132 shares during the last quarter. First Light Asset Management LLC bought a new position in shares of Tactile Systems Technology during the 2nd quarter valued at approximately $13,775,000. Engineers Gate Manager LP bought a new position in shares of Tactile Systems Technology during the 2nd quarter valued at approximately $400,000. Finally, IFP Advisors Inc grew its holdings in shares of Tactile Systems Technology by 24.3% in the second quarter. IFP Advisors Inc now owns 3,606 shares of the company's stock valued at $107,000 after purchasing an additional 704 shares in the last quarter. 83.43% of the stock is owned by institutional investors.

Insider Transactions at Tactile Systems Technology

In other Tactile Systems Technology news, CEO Sheri Dodd sold 10,978 shares of Tactile Systems Technology stock in a transaction on Monday, August 10th. The shares were 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 directly owned 232,907 shares of the company's stock, valued at $6,856,782.08. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 corporate insiders.

Analyst Ratings Changes

TCMD has been the topic of several research reports. BTIG Research reduced their price target on shares of Tactile Systems Technology from $39.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, October 12th. Weiss Ratings upgraded shares of Tactile Systems Technology from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, October 13th. Finally, Wall Street Zen lowered shares of Tactile Systems Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 17th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Tactile Systems Technology presently has an average rating of "Moderate Buy" and an average price target of $37.60.

Tactile Systems Technology Price Performance

Shares of NASDAQ TCMD opened at $23.64 on Monday. The stock has a market capitalization of $535.45 million, a P/E ratio of 21.89 and a beta of 0.82. The business's 50 day moving average is $22.72 and its two-hundred day moving average is $25.13. Tactile Systems Technology, Inc. has a 1-year low of $14.84 and a 1-year high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.20. The firm had revenue of $85.70 million for the quarter, compared to the consensus estimate of $85.52 million. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%. As a group, equities research analysts anticipate that Tactile Systems Technology, Inc. will post 1.10 earnings per share for the current fiscal year.

Tactile Systems Technology Company Profile

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.

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