Man Group plc Invests $579,000 in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Man Group plc bought a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 33,777 shares of the company's stock, valued at approximately $579,000. Man Group plc owned 0.14% of Tactile Systems Technology at the end of the most recent quarter.

Several other large investors have also modified their holdings of TCMD. Vanguard Group Inc. increased its stake in Tactile Systems Technology by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 1,483,692 shares of the company's stock valued at $25,416,000 after buying an additional 4,509 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Tactile Systems Technology by 8.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company's stock worth $15,444,000 after acquiring an additional 67,934 shares during the period. Renaissance Technologies LLC increased its stake in shares of Tactile Systems Technology by 44.0% during the fourth quarter. Renaissance Technologies LLC now owns 451,100 shares of the company's stock worth $7,727,000 after acquiring an additional 137,900 shares during the period. Northern Trust Corp raised its holdings in Tactile Systems Technology by 0.7% during the fourth quarter. Northern Trust Corp now owns 205,914 shares of the company's stock worth $3,527,000 after purchasing an additional 1,371 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Tactile Systems Technology in the fourth quarter valued at about $2,793,000. Hedge funds and other institutional investors own 83.43% of the company's stock.

Insider Buying and Selling at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 2,921 shares of Tactile Systems Technology stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $9.94, for a total transaction of $29,034.74. Following the completion of the sale, the chief financial officer now owns 99,111 shares in the company, valued at approximately $985,163.34. This trade represents a 2.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William W. Burke sold 3,300 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $9.67, for a total transaction of $31,911.00. Following the sale, the director now directly owns 48,520 shares in the company, valued at $469,188.40. This represents a 6.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.

Tactile Systems Technology Price Performance

Shares of TCMD traded up $0.17 on Friday, reaching $10.07. The stock had a trading volume of 58,964 shares, compared to its average volume of 266,766. Tactile Systems Technology, Inc. has a twelve month low of $8.61 and a twelve month high of $21.10. The firm has a market capitalization of $234.11 million, a PE ratio of 14.39 and a beta of 1.05. The firm has a 50-day moving average of $12.24 and a 200 day moving average of $15.11. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. The firm had revenue of $61.27 million during the quarter, compared to analyst estimates of $63.48 million. During the same period last year, the company posted ($0.05) EPS. Sell-side analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Analyst Ratings Changes

TCMD has been the topic of several recent analyst reports. B. Riley upgraded Tactile Systems Technology to a "hold" rating in a research report on Wednesday, May 7th. Piper Sandler lowered Tactile Systems Technology from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $25.00 to $14.00 in a report on Tuesday, May 6th. Finally, Wall Street Zen cut shares of Tactile Systems Technology from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $16.00.

Tactile Systems Technology 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.