Dynamic Technology Lab Private Ltd Acquires New Position in Tactile Systems Technology, Inc. $TCMD

Key Points

• Dynamic Technology Lab Private Ltd has invested approximately $534,000 in Tactile Systems Technology, acquiring 40,374 shares as per a recent SEC filing.
• Several institutional investors have significantly increased their stakes in Tactile Systems Technology, with hedge funds owning around 83.43% of the company's stock.
• Analysts have mixed views on the stock, with ratings ranging from "strong-buy" to "hold," and a consensus price target set at $13.50.

Dynamic Technology Lab Private Ltd purchased a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,374 shares of the company's stock, valued at approximately $534,000. Dynamic Technology Lab Private Ltd owned about 0.17% of Tactile Systems Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Tactile Systems Technology by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,501,006 shares of the company's stock valued at $19,843,000 after purchasing an additional 17,314 shares during the last quarter. Deutsche Bank AG boosted its holdings in Tactile Systems Technology by 1.0% in the first quarter. Deutsche Bank AG now owns 623,033 shares of the company's stock valued at $8,236,000 after purchasing an additional 6,421 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its holdings in Tactile Systems Technology by 34.3% in the first quarter. Punch & Associates Investment Management Inc. now owns 282,000 shares of the company's stock valued at $3,728,000 after purchasing an additional 72,000 shares during the last quarter. Northern Trust Corp boosted its holdings in Tactile Systems Technology by 0.7% in the fourth quarter. Northern Trust Corp now owns 205,914 shares of the company's stock valued at $3,527,000 after purchasing an additional 1,371 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Tactile Systems Technology by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 163,283 shares of the company's stock valued at $2,159,000 after purchasing an additional 5,303 shares during the last quarter. 83.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tactile Systems Technology

In related news, CEO Sheri Louise Dodd sold 7,762 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $12.36, for a total transaction of $95,938.32. Following the completion of the sale, the chief executive officer owned 173,479 shares of the company's stock, valued at approximately $2,144,200.44. This represents a 4.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TCMD has been the subject of a number of analyst reports. B. Riley reiterated a "neutral" rating and issued a $13.00 price objective (up previously from $12.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 5th. Wall Street Zen upgraded shares of Tactile Systems Technology from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, William Blair upgraded shares of Tactile Systems Technology to a "strong-buy" rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $13.50.

Tactile Systems Technology Price Performance

Shares of TCMD traded up $0.28 during mid-day trading on Tuesday, hitting $13.80. 168,217 shares of the company were exchanged, compared to its average volume of 180,490. Tactile Systems Technology, Inc. has a 1-year low of $8.61 and a 1-year high of $21.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 3.79. The company has a 50 day moving average of $11.88 and a 200-day moving average of $11.86. The stock has a market cap of $307.60 million, a price-to-earnings ratio of 22.26 and a beta of 1.04.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.72%. The firm had revenue of $78.91 million during the quarter, compared to the consensus estimate of $73.93 million. Tactile Systems Technology has set its FY 2025 guidance at EPS. Analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

About Tactile Systems Technology

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.