Vanguard Group Inc. Boosts Position in Tactile Systems Technology, Inc. $TCMD

Key Points

• Vanguard increased its stake in Tactile Systems Technology by 4.8% in the fourth quarter, bringing its holdings to 1.65 million shares worth about $47.9 million. Vanguard now owns 7.39% of the company.
• Analyst sentiment is generally positive, with the stock carrying a Moderate Buy consensus and an average price target of $38.60. Recent firms including Piper Sandler, B. Riley, and BTIG all raised price targets or ratings.
• The company posted mixed quarterly results, with revenue topping estimates at $75.27 million but EPS missing expectations by a penny. Shares were down 1.3% on the day, and insiders also sold stock during the last quarter.

Vanguard Group Inc. boosted its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,651,170 shares of the company's stock after acquiring an additional 76,198 shares during the quarter. Vanguard Group Inc. owned 7.39% of Tactile Systems Technology worth $47,884,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in Tactile Systems Technology by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company's stock valued at $29,000 after acquiring an additional 1,993 shares during the last quarter. Quarry LP boosted its holdings in shares of Tactile Systems Technology by 302.6% in the third quarter. Quarry LP now owns 2,319 shares of the company's stock worth $32,000 after buying an additional 1,743 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Tactile Systems Technology in the third quarter worth approximately $47,000. BNP Paribas Financial Markets boosted its holdings in shares of Tactile Systems Technology by 95.8% in the third quarter. BNP Paribas Financial Markets now owns 4,526 shares of the company's stock worth $63,000 after buying an additional 2,214 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of Tactile Systems Technology in the fourth quarter worth approximately $86,000. Hedge funds and other institutional investors own 83.43% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TCMD. Weiss Ratings downgraded shares of Tactile Systems Technology from a "hold (c+)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. Piper Sandler upped their price objective on Tactile Systems Technology from $35.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 18th. B. Riley Financial upgraded Tactile Systems Technology from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $32.00 to $36.00 in a research note on Thursday, May 7th. BTIG Research upped their price objective on Tactile Systems Technology from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Finally, Lake Street Capital set a $40.00 price objective on Tactile Systems Technology and gave the company a "buy" rating in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Tactile Systems Technology presently has a consensus rating of "Moderate Buy" and an average price target of $38.60.

Insider Buying and Selling at Tactile Systems Technology

In other Tactile Systems Technology news, VP Kristie Burns sold 6,246 shares of the firm's stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total transaction of $180,759.24. Following the completion of the transaction, the vice president owned 82,581 shares in the company, valued at $2,389,894.14. This trade represents a 7.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Elaine M. Birkemeyer sold 7,701 shares of the company's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total transaction of $222,866.94. Following the sale, the chief financial officer directly owned 134,819 shares in the company, valued at approximately $3,901,661.86. The trade was a 5.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 54,768 shares of company stock worth $1,548,252 in the last quarter. 2.10% of the stock is owned by corporate insiders.

Tactile Systems Technology Stock Down 1.3%

Shares of TCMD stock opened at $22.74 on Friday. The stock has a market cap of $513.01 million, a P/E ratio of 25.84 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. The company's fifty day simple moving average is $25.49 and its two-hundred day simple moving average is $26.55.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.