Empowered Funds LLC Invests $3.61 Million in Tactile Systems Technology, Inc. $TCMD

Key Points

• Empowered Funds LLC acquired 121,116 shares of Tactile Systems Technology, valued at approximately $3.61 million, giving it a 0.53% stake. Institutional investors collectively own 83.43% of the company.
• Analysts maintain a generally positive outlook, with four Buy ratings and two Hold ratings. The stock has a “Moderate Buy” consensus rating and an average price target of $38.40.
• Tactile Systems reported quarterly EPS of $0.34, beating the $0.14 consensus estimate, while revenue of $85.7 million was roughly in line with forecasts. CEO Sheri Louise Dodd separately sold shares worth about $323,000 to cover tax obligations tied to vested equity awards.

Empowered Funds LLC bought a new position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 121,116 shares of the company's stock, valued at approximately $3,607,000. Empowered Funds LLC owned about 0.53% of Tactile Systems Technology at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in Tactile Systems Technology by 2.1% in the first quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company's stock valued at $2,471,000 after buying an additional 3,898 shares during the last quarter. Rhumbline Advisers boosted its holdings in Tactile Systems Technology by 4.0% in the second quarter. Rhumbline Advisers now owns 37,780 shares of the company's stock worth $383,000 after acquiring an additional 1,441 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Tactile Systems Technology by 11.2% during the second quarter. American Century Companies Inc. now owns 53,264 shares of the company's stock worth $540,000 after acquiring an additional 5,364 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Tactile Systems Technology by 3.5% during the second quarter. Prudential Financial Inc. now owns 24,360 shares of the company's stock worth $247,000 after acquiring an additional 835 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Tactile Systems Technology during the second quarter valued at about $1,464,000. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. B. Riley Financial raised shares of Tactile Systems Technology from a "neutral" rating to a "buy" rating and increased their price objective for the company from $32.00 to $36.00 in a research report on Thursday, May 7th. BTIG Research dropped their target price on shares of Tactile Systems Technology from $40.00 to $39.00 and set a "buy" rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Tactile Systems Technology from a "hold (c-)" rating to a "hold (c+)" rating in a research note on Monday, August 17th. Finally, Wall Street Zen cut shares of Tactile Systems Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Tactile Systems Technology has an average rating of "Moderate Buy" and an average target price of $38.40.

Tactile Systems Technology Stock Performance

Tactile Systems Technology stock opened at $22.25 on Wednesday. The business's 50-day simple moving average is $27.41 and its two-hundred day simple moving average is $26.51. The company has a market cap of $504.01 million, a PE ratio of 20.60 and a beta of 0.81. Tactile Systems Technology, Inc. has a fifty-two week low of $12.91 and a fifty-two week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.20. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%.The business had revenue of $85.70 million for the quarter, compared to analyst estimates of $85.52 million. As a group, analysts predict that Tactile Systems Technology, Inc. will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sheri Louise Dodd sold 10,978 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.44, for a total value of $323,192.32. Following the transaction, the chief executive officer owned 232,907 shares in the company, valued at approximately $6,856,782.08. This represents a 4.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.

About Tactile Systems Technology

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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