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

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Tactile Systems Technology by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,501,006 shares of the company's stock worth $19,843,000 after purchasing an additional 17,314 shares during the period. Dimensional Fund Advisors LP grew its holdings in Tactile Systems Technology by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company's stock worth $15,444,000 after purchasing an additional 67,934 shares during the period. Deutsche Bank AG grew its holdings in Tactile Systems Technology by 1.0% in the first quarter. Deutsche Bank AG now owns 623,033 shares of the company's stock worth $8,236,000 after purchasing an additional 6,421 shares during the period. Northern Trust Corp grew its holdings in Tactile Systems Technology by 0.7% in 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 during the period. Finally, Bank of New York Mellon Corp grew its holdings in Tactile Systems Technology by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 163,283 shares of the company's stock worth $2,159,000 after purchasing an additional 5,303 shares during the period. Hedge funds and other institutional investors own 83.43% of the company's stock.

Tactile Systems Technology Stock Performance

Tactile Systems Technology stock traded up $0.02 during midday trading on Thursday, reaching $13.17. 130,886 shares of the company traded hands, compared to its average volume of 274,151. The firm has a market capitalization of $293.59 million, a price-to-earnings ratio of 21.24 and a beta of 0.96. The business has a 50 day moving average of $10.97 and a two-hundred day moving average of $12.13. Tactile Systems Technology, Inc. has a 12 month low of $8.61 and a 12 month high of $21.10. 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 issued its quarterly earnings data on Monday, August 4th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. The company had revenue of $78.91 million for the quarter, compared to the consensus estimate of $73.93 million. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.72%. Tactile Systems Technology has set its FY 2025 guidance at EPS. As a group, research analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sheri Louise Dodd sold 7,762 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $12.36, for a total transaction of $95,938.32. Following the transaction, the chief executive officer owned 173,479 shares in the company, valued at $2,144,200.44. This 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 at the SEC website. 2.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TCMD. Wall Street Zen upgraded shares of Tactile Systems Technology from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. B. Riley restated a "neutral" rating and issued a $13.00 price objective (up previously from $12.00) on shares of Tactile Systems Technology in a report on Tuesday, August 5th. William Blair upgraded shares of Tactile Systems Technology to a "strong-buy" rating in a research note on Tuesday, August 5th. Finally, Piper Sandler downgraded shares of Tactile Systems Technology from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $25.00 to $14.00 in a research note on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Tactile Systems Technology has an average rating of "Hold" and a consensus target price of $13.50.

About Tactile Systems Technology

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.