Jupiter Topco LLC Takes Position in Tactile Systems Technology, Inc. $TCMD

Key Points

• Jupiter Topco LLC acquired 397,278 shares of Tactile Systems Technology worth approximately $11.8 million, representing a 1.75% stake. Institutional investors collectively own 83.43% of the company.
• Analysts maintain a generally positive outlook, with four Buy ratings and two Holds, producing a consensus rating of “Moderate Buy” and an average price target of $38.40.
• Tactile Systems Technology exceeded quarterly earnings expectations, reporting $0.34 EPS versus the $0.14 estimate and $85.7 million in revenue, slightly above forecasts.

Jupiter Topco LLC bought a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 397,278 shares of the company's stock, valued at approximately $11,831,000. Jupiter Topco LLC owned 1.75% of Tactile Systems Technology as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TCMD. Canada Pension Plan Investment Board purchased a new position in Tactile Systems Technology in the 2nd quarter worth approximately $319,000. Legal & General Group Plc purchased a new stake in shares of Tactile Systems Technology during the second quarter valued at approximately $182,000. Paradigm Capital Management Inc. NY purchased a new stake in shares of Tactile Systems Technology during the second quarter valued at approximately $6,826,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Tactile Systems Technology during the second quarter worth $273,000. Finally, Globeflex Capital L P acquired a new position in shares of Tactile Systems Technology during the second quarter worth $6,620,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, CEO Sheri Louise Dodd sold 10,978 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.44, for a total value of $323,192.32. Following the completion of the sale, the chief executive officer owned 232,907 shares of the company's stock, valued at approximately $6,856,782.08. The trade was a 4.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.

Tactile Systems Technology Trading Up 0.2%

Tactile Systems Technology stock opened at $23.16 on Friday. Tactile Systems Technology, Inc. has a 52 week low of $12.91 and a 52 week high of $37.77. The stock has a market cap of $524.57 million, a P/E ratio of 21.44 and a beta of 0.81. The stock has a 50 day moving average of $27.55 and a 200-day moving average of $26.58.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.20. The business had revenue of $85.70 million during the quarter, compared to analyst estimates of $85.52 million. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. As a group, equities analysts predict that Tactile Systems Technology, Inc. will post 1.07 earnings per share for the current fiscal year.

Tactile Systems Technology Company 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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