Punch & Associates Investment Management Inc. Makes New $9.38 Million Investment in Tactile Systems Technology, Inc. $TCMD

Punch & Associates Investment Management Inc. acquired a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 315,000 shares of the company’s stock, valued at approximately $9,381,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TCMD. Quantinno Capital Management LP raised its position in shares of Tactile Systems Technology by 1.3% during the first quarter. Quantinno Capital Management LP now owns 53,612 shares of the company’s stock worth $1,401,000 after acquiring an additional 684 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Tactile Systems Technology by 3.5% in the second quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock valued at $247,000 after acquiring an additional 835 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Tactile Systems Technology by 36.4% in the second quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock valued at $98,000 after acquiring an additional 876 shares during the last quarter. Strs Ohio increased its position in Tactile Systems Technology by 4.1% in the first quarter. Strs Ohio now owns 22,700 shares of the company’s stock worth $593,000 after purchasing an additional 900 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Tactile Systems Technology in the fourth quarter worth about $32,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Trading Down 0.3%

Tactile Systems Technology stock opened at $23.51 on Thursday. The firm has a market capitalization of $532.50 million, a P/E ratio of 21.77 and a beta of 0.81. The business has a 50-day moving average of $27.69 and a 200-day moving average of $26.64. Tactile Systems Technology, Inc. has a 1 year low of $12.91 and a 1 year high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.20. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. The business had revenue of $85.70 million for the quarter, compared to the consensus estimate of $85.52 million. Research analysts anticipate that Tactile Systems Technology, Inc. will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 10,978 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.44, for a total value of $323,192.32. Following the sale, the chief executive officer directly owned 232,907 shares in the company, valued at approximately $6,856,782.08. This trade represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TCMD. BTIG Research cut their target price on shares of Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings raised shares of Tactile Systems Technology from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and raised their price objective for the company from $32.00 to $36.00 in a research note on Thursday, May 7th. Finally, Wall Street Zen cut shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Tactile Systems Technology has an average rating of “Moderate Buy” and an average price target of $38.40.

Tactile Systems Technology 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.