Martingale Asset Management L P Buys 25,311 Shares of Tactile Systems Technology, Inc. $TCMD

Key Points

• Martingale Asset Management L P increased its stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 49.2%, owning 76,723 shares valued at $1,014,000 as of the latest SEC filing.
• Tactile Systems Technology reported $0.14 EPS for the quarter, surpassing analysts' expectations, with revenue of $78.91 million.
• The company is currently rated as a "Hold" on average by analysts, with a target price of $13.50, while one firm has upgraded it to a "Strong Buy."

Martingale Asset Management L P boosted its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 49.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,723 shares of the company's stock after acquiring an additional 25,311 shares during the period. Martingale Asset Management L P owned approximately 0.33% of Tactile Systems Technology worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in 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 buying an additional 2,574 shares during the period. Virtus Fund Advisers LLC raised its holdings in shares of Tactile Systems Technology by 142.0% during the fourth quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company's stock worth $72,000 after acquiring an additional 2,464 shares during the period. Quarry LP bought a new stake in Tactile Systems Technology in the 4th quarter valued at $81,000. Legal & General Group Plc boosted its stake in Tactile Systems Technology by 33.2% in the 4th 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 during the period. Finally, State of Tennessee Department of Treasury bought a new position in Tactile Systems Technology during the 4th quarter worth about $145,000. Institutional investors and hedge funds own 83.43% of the company's stock.

Insider Activity

In related 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 transaction of $95,938.32. Following the transaction, the chief executive officer directly owned 173,479 shares of the company's stock, valued at approximately $2,144,200.44. The trade was a 4.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. William Blair raised Tactile Systems Technology to a "strong-buy" rating in a research report on Tuesday, August 5th. B. Riley reaffirmed a "neutral" rating and set a $13.00 price target (up previously from $12.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 5th. Wall Street Zen raised shares of Tactile Systems Technology from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Piper Sandler cut shares of Tactile Systems Technology from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $25.00 to $14.00 in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $13.50.

Tactile Systems Technology Stock Performance

TCMD stock traded up $0.14 during trading hours on Friday, reaching $13.31. The stock had a trading volume of 216,998 shares, compared to its average volume of 261,124. The stock has a 50-day simple moving average of $11.10 and a 200 day simple moving average of $12.04. Tactile Systems Technology, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $21.10. The stock has a market capitalization of $296.68 million, a PE ratio of 21.47 and a beta of 0.96. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.79 and a quick ratio of 3.36.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last released its quarterly earnings data 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 company had revenue of $78.91 million for the quarter, compared to analyst estimates of $73.93 million. Tactile Systems Technology has set its FY 2025 guidance at EPS. Analysts predict that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

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.