Man Group plc Purchases Shares of 33,777 Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Man Group plc purchased a new position in Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 33,777 shares of the company's stock, valued at approximately $579,000. Man Group plc owned about 0.14% of Tactile Systems Technology at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Jones Financial Companies Lllp purchased a new stake in Tactile Systems Technology during the fourth quarter valued at $39,000. Quarry LP bought a new stake in Tactile Systems Technology during the fourth quarter valued at about $81,000. 1620 Investment Advisors Inc. bought a new stake in Tactile Systems Technology during the fourth quarter valued at about $97,000. Legal & General Group Plc grew its position in shares of Tactile Systems Technology by 33.2% during the fourth quarter. Legal & General Group Plc now owns 6,257 shares of the company's stock worth $107,000 after purchasing an additional 1,558 shares in the last quarter. Finally, State of Tennessee Department of Treasury purchased a new stake in shares of Tactile Systems Technology during the fourth quarter worth about $145,000. Hedge funds and other institutional investors own 83.43% of the company's stock.

Tactile Systems Technology Trading Up 3.7%

NASDAQ:TCMD traded up $0.35 during midday trading on Tuesday, hitting $9.77. The stock had a trading volume of 372,982 shares, compared to its average volume of 266,332. Tactile Systems Technology, Inc. has a one year low of $8.61 and a one year high of $21.10. The company has a market capitalization of $227.13 million, a price-to-earnings ratio of 13.96 and a beta of 1.05. The stock has a 50-day moving average of $12.46 and a 200 day moving average of $15.22. 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 announced its quarterly earnings data on Monday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Tactile Systems Technology had a return on equity of 9.37% and a net margin of 5.79%. The firm had revenue of $61.27 million during the quarter, compared to the consensus estimate of $63.48 million. During the same period last year, the company earned ($0.05) EPS. As a group, sell-side analysts forecast that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Analysts Set New Price Targets

TCMD has been the subject of a number of research reports. Wall Street Zen lowered Tactile Systems Technology from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. B. Riley upgraded Tactile Systems Technology to a "hold" rating in a research report on Wednesday, May 7th. Finally, Piper Sandler downgraded Tactile Systems Technology from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $25.00 to $14.00 in a report on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Tactile Systems Technology has an average rating of "Hold" and an average target price of $16.00.

Insider Buying and Selling

In other Tactile Systems Technology 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 value of $29,034.74. Following the transaction, the chief financial officer now owns 99,111 shares in the company, valued at $985,163.34. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William W. Burke sold 3,300 shares of the stock in a transaction dated Thursday, May 8th. The shares were 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 of the company's stock, valued at approximately $469,188.40. The trade was 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 owned by insiders.

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.