Tactile Systems Technology, Inc. $TCMD Shares Purchased by LSV Asset Management

LSV Asset Management grew its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 119.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 323,004 shares of the company's stock after purchasing an additional 176,059 shares during the period. LSV Asset Management owned 1.45% of Tactile Systems Technology worth $9,367,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Global Retirement Partners LLC acquired a new stake in shares of Tactile Systems Technology during the fourth quarter worth $37,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Tactile Systems Technology during the fourth quarter worth $203,000. RFG Advisory LLC acquired a new stake in shares of Tactile Systems Technology during the fourth quarter worth $1,529,000. Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of Tactile Systems Technology by 133.1% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 30,886 shares of the company's stock worth $896,000 after purchasing an additional 17,636 shares during the period. Finally, Strs Ohio raised its holdings in shares of Tactile Systems Technology by 105.7% during the fourth quarter. Strs Ohio now owns 21,800 shares of the company's stock worth $632,000 after purchasing an additional 11,200 shares during the period. 83.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TCMD has been the topic of a number of research reports. Weiss Ratings cut shares of Tactile Systems Technology from a "hold (c+)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. BTIG Research restated a "buy" rating and set a $40.00 price target on shares of Tactile Systems Technology in a research report on Thursday, May 21st. Piper Sandler upped their price target on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th. Lake Street Capital set a $40.00 price target on shares of Tactile Systems Technology and gave the stock a "buy" rating in a research report on Wednesday, February 18th. Finally, B. Riley Financial upgraded shares of Tactile Systems Technology from a "neutral" rating to a "buy" rating and upped their price target for the stock from $32.00 to $36.00 in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.60.

Tactile Systems Technology Price Performance

Shares of TCMD opened at $24.90 on Tuesday. The firm has a 50-day moving average price of $25.04 and a 200 day moving average price of $26.98. The firm has a market capitalization of $561.74 million, a PE ratio of 28.30 and a beta of 0.82. Tactile Systems Technology, Inc. has a 52-week low of $9.34 and a 52-week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). The company had revenue of $75.27 million during the quarter, compared to the consensus estimate of $70.57 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. On average, equities analysts expect that Tactile Systems Technology, Inc. will post 1.11 EPS for the current year.

Insider Transactions at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $24.49, for a total value of $113,413.19. Following the completion of the transaction, the chief financial officer owned 130,188 shares in the company, valued at $3,188,304.12. This represents a 3.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is owned by corporate insiders.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, headquartered in Plymouth, Minnesota, is a medical device company specializing in the design, manufacture and marketing of home-use pneumatic compression therapy systems for the treatment of lymphedema and other chronic edema-related conditions. Using proprietary software and patented pump technologies, the company's platforms are designed to improve patient outcomes through sequential pressure treatment that promotes fluid mobilization and enhanced lymphatic function.

At the core of Tactile Systems' product portfolio is the Flexitouch® system, a programmable pneumatic pump and garment system approved for home use, and the Aria® device, which features an intuitive touchscreen interface and advanced garment design.

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