Invenomic Capital Management LP Invests $296,000 in Tactile Systems Technology, Inc. $TCMD

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 acquired a new position in Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,390 shares of the company's stock, valued at approximately $296,000. Invenomic Capital Management LP owned 0.10% of Tactile Systems Technology at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC purchased a new stake in Tactile Systems Technology in the 1st quarter worth about $138,000. Trexquant Investment LP purchased a new stake in shares of Tactile Systems Technology during the first quarter valued at $232,000. Virtus Advisers LLC bought a new position in shares of Tactile Systems Technology in the first quarter worth about $198,000. AlphaQuest LLC increased its stake in Tactile Systems Technology by 171.3% in the 1st quarter. AlphaQuest LLC now owns 25,084 shares of the company's stock worth $332,000 after buying an additional 15,837 shares during the period. Finally, Martingale Asset Management L P increased its stake in Tactile Systems Technology by 49.2% in the 1st quarter. Martingale Asset Management L P now owns 76,723 shares of the company's stock worth $1,014,000 after buying an additional 25,311 shares during the period. 83.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research firms recently commented on TCMD. B. Riley reaffirmed a "neutral" rating and issued a $13.00 price target (up previously from $12.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 5th. William Blair raised Tactile Systems Technology to a "strong-buy" rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen raised Tactile Systems Technology from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $13.50.

Tactile Systems Technology Stock Up 1.8%

Shares of TCMD traded up $0.24 during mid-day trading on Tuesday, hitting $13.69. The company's stock had a trading volume of 133,212 shares, compared to its average volume of 272,439. The company's 50-day moving average is $11.54 and its 200-day moving average is $11.90. Tactile Systems Technology, Inc. has a 52-week low of $8.61 and a 52-week high of $21.10. The firm has a market capitalization of $305.18 million, a price-to-earnings ratio of 22.08 and a beta of 1.03. The company has a current ratio of 3.79, a quick ratio of 3.36 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last announced 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 analysts' expectations of $73.93 million. Tactile Systems Technology has set its FY 2025 guidance at EPS. On average, 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.