52,740 Shares in Tactile Systems Technology, Inc. $TCMD Bought by RFG Advisory LLC

Key Points

• RFG Advisory LLC bought 52,740 shares of Tactile Systems Technology in the fourth quarter, a stake valued at about $1.53 million and equal to roughly 0.24% of the company.
• Insider selling continued, with CEO Sheri Louise Dodd and VP Kristie Burns both selling shares on February 24; insiders sold 50,137 shares worth about $1.43 million in the last quarter overall.
• Tactile Systems reported Q1 earnings of -$0.08 per share, slightly worse than estimates, but revenue of $75.27 million beat expectations. Analysts remain generally positive, with a Moderate Buy consensus and an average price target of $38.60.

RFG Advisory LLC purchased a new position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 52,740 shares of the company's stock, valued at approximately $1,529,000. RFG Advisory LLC owned approximately 0.24% of Tactile Systems Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in Tactile Systems Technology by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company's stock worth $29,000 after buying an additional 1,993 shares in the last quarter. Quarry LP boosted its holdings 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 buying an additional 1,743 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in Tactile Systems Technology during the third quarter worth $47,000. BNP Paribas Financial Markets boosted its holdings in Tactile Systems Technology by 95.8% during the third quarter. BNP Paribas Financial Markets now owns 4,526 shares of the company's stock worth $63,000 after buying an additional 2,214 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Tactile Systems Technology during the fourth quarter worth $86,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tactile Systems Technology

In related news, CEO Sheri Louise Dodd sold 10,993 shares of Tactile Systems Technology stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total value of $318,137.42. Following the sale, the chief executive officer owned 243,885 shares of the company's stock, valued at approximately $7,058,031.90. This trade represents a 4.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kristie Burns sold 6,246 shares of Tactile Systems Technology stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total transaction of $180,759.24. Following the completion of the sale, the vice president directly owned 82,581 shares in the company, valued at $2,389,894.14. This represents a 7.03% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 50,137 shares of company stock valued at $1,434,839. 2.10% of the stock is owned by company insiders.

Tactile Systems Technology Stock Performance

Tactile Systems Technology stock opened at $25.65 on Friday. The company's fifty day moving average price is $26.21 and its 200 day moving average price is $26.26. Tactile Systems Technology, Inc. has a 1 year low of $9.34 and a 1 year high of $37.77. The stock has a market capitalization of $578.66 million, a P/E ratio of 29.15 and a beta of 0.82.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. The company had revenue of $75.27 million during the quarter, compared to analyst estimates of $70.57 million. Sell-side analysts predict that Tactile Systems Technology, Inc. will post 1.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TCMD shares. Piper Sandler increased their price target on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, February 18th. Lake Street Capital set a $40.00 price target on shares of Tactile Systems Technology and gave the stock a "buy" rating in a report on Wednesday, February 18th. BTIG Research increased their price target on shares of Tactile Systems Technology from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday. B. Riley Financial raised shares of Tactile Systems Technology from a "neutral" rating to a "buy" rating and increased their price target for the stock from $32.00 to $36.00 in a report on Thursday. Finally, Weiss Ratings cut shares of Tactile Systems Technology from a "hold (c+)" rating to a "hold (c-)" rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Tactile Systems Technology presently has an average rating of "Moderate Buy" and an average target price of $38.60.

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.

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