22,390 Shares in Tactile Systems Technology, Inc. $TCMD Purchased by Invenomic Capital Management LP

Key Points

• Invenomic Capital Management has acquired a new stake in Tactile Systems Technology, purchasing 22,390 shares valued at approximately $296,000 during the first quarter.
• Analysts have mixed opinions, with B. Riley maintaining a "neutral" rating while William Blair upgraded the stock to a "strong-buy," setting an average price target of $13.50.
• Tactile Systems Technology reported earnings of $0.14 per share for the last quarter, surpassing analysts' expectations, and its revenue reached $78.91 million, which was above consensus estimates.

Invenomic Capital Management LP purchased a new position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 22,390 shares of the company's stock, valued at approximately $296,000. Invenomic Capital Management LP owned about 0.10% of Tactile Systems Technology as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Tactile Systems Technology by 64,350.0% during the 1st quarter. GAMMA Investing LLC now owns 2,578 shares of the company's stock worth $34,000 after purchasing an additional 2,574 shares during the last quarter. Virtus Fund Advisers LLC increased its stake in shares of Tactile Systems Technology by 142.0% during the 4th quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company's stock worth $72,000 after purchasing an additional 2,464 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Tactile Systems Technology during the 1st quarter worth approximately $138,000. Algert Global LLC bought a new position in Tactile Systems Technology in the 1st quarter worth approximately $160,000. Finally, Virtus Advisers LLC bought a new position in Tactile Systems Technology in the 1st quarter worth approximately $198,000. Hedge funds and other institutional investors own 83.43% of the company's stock.

Insider Activity at Tactile Systems Technology

In other news, CEO Sheri Louise Dodd sold 7,762 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $12.36, for a total value of $95,938.32. Following the sale, the chief executive officer directly owned 173,479 shares of the company's stock, valued at $2,144,200.44. The trade was a 4.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wall Street Zen raised shares of Tactile Systems Technology from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. B. Riley restated a "neutral" rating and set a $13.00 price objective (up previously from $12.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 5th. Finally, William Blair upgraded shares of Tactile Systems Technology to a "strong-buy" rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $13.50.

Tactile Systems Technology Stock Up 2.0%

Shares of NASDAQ TCMD traded up $0.26 on Thursday, reaching $13.52. 67,349 shares of the company's stock traded hands, compared to its average volume of 270,601. The business's 50 day simple moving average is $11.60 and its two-hundred day simple moving average is $11.91. Tactile Systems Technology, Inc. has a 12 month low of $8.61 and a 12 month high of $21.10. The company has a market cap of $301.36 million, a price-to-earnings ratio of 21.82 and a beta of 1.04. The company has a quick ratio of 3.36, a current ratio of 3.79 and a debt-to-equity ratio of 0.11.

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

Tactile Systems Technology Company Profile

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.