Punch & Associates Investment Management Inc. Has $3.73 Million Stock Position in Tactile Systems Technology, Inc. $TCMD

Key Points

• Punch & Associates Investment Management Inc. increased its stake in Tactile Systems Technology, Inc. by 34.3%, now holding approximately 1.21% of the company, valued at $3.73 million.
• CEO Sheri Louise Dodd sold 7,762 shares at an average price of $12.36, resulting in a 4.28% decrease in her ownership of the company.
• Analysts have upgraded Tactile Systems Technology, with ratings ranging from 'hold' to 'strong buy', noting a consensus price target of $13.50.

Punch & Associates Investment Management Inc. grew its stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 34.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 282,000 shares of the company's stock after buying an additional 72,000 shares during the period. Punch & Associates Investment Management Inc. owned approximately 1.21% of Tactile Systems Technology worth $3,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Tactile Systems Technology by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,501,006 shares of the company's stock worth $19,843,000 after buying an additional 17,314 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Tactile Systems Technology by 1.0% during the 1st quarter. Deutsche Bank AG now owns 623,033 shares of the company's stock valued at $8,236,000 after purchasing an additional 6,421 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Tactile Systems Technology by 0.7% during the 4th quarter. Northern Trust Corp now owns 205,914 shares of the company's stock valued at $3,527,000 after purchasing an additional 1,371 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Tactile Systems Technology by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 163,283 shares of the company's stock valued at $2,159,000 after purchasing an additional 5,303 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of Tactile Systems Technology during the 4th quarter valued at about $2,793,000. Institutional investors own 83.43% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TCMD. B. Riley reiterated a "neutral" rating and set a $13.00 price objective (up previously from $12.00) on shares of Tactile Systems Technology in a report on Tuesday, August 5th. Wall Street Zen upgraded Tactile Systems Technology from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, William Blair upgraded Tactile Systems Technology to a "strong-buy" rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $13.50.

Insider Buying and Selling

In other Tactile Systems Technology 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 owned 173,479 shares of the company's stock, valued at $2,144,200.44. The trade was a 4.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.50% of the company's stock.

Tactile Systems Technology Stock Down 1.0%

NASDAQ TCMD traded down $0.14 during trading on Friday, hitting $13.58. The stock had a trading volume of 61,615 shares, compared to its average volume of 270,085. The company has a market capitalization of $302.59 million, a PE ratio of 21.90 and a beta of 1.04. The company's 50-day moving average price is $11.67 and its two-hundred day moving average price is $11.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 3.79. Tactile Systems Technology, Inc. has a 12 month low of $8.61 and a 12 month high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $78.91 million for the quarter, compared to analysts' expectations of $73.93 million. Tactile Systems Technology had a return on equity of 7.72% and a net margin of 5.06%. Tactile Systems Technology has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

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.