Globeflex Capital L P Buys Shares of 222,298 Tactile Systems Technology, Inc. $TCMD

Globeflex Capital L P purchased a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the second quarter, Holdings Channel.com reports. The fund purchased 222,298 shares of the company’s stock, valued at approximately $6,620,000. Tactile Systems Technology makes up about 0.8% of Globeflex Capital L P’s investment portfolio, making the stock its 29th biggest holding.

Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in Tactile Systems Technology by 1,594.4% in the 3rd 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 period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Tactile Systems Technology in the fourth quarter worth about $32,000. Quarry LP raised its position 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 valued at $32,000 after purchasing an additional 1,743 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Tactile Systems Technology during the 4th quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Tactile Systems Technology during the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Price Performance

Shares of TCMD opened at $23.82 on Monday. Tactile Systems Technology, Inc. has a twelve month low of $12.78 and a twelve month high of $37.77. The stock has a market cap of $539.52 million, a PE ratio of 22.06 and a beta of 0.81. The business’s 50-day moving average price is $27.86 and its 200-day moving average price is $26.73.

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

Insider Transactions at Tactile Systems Technology

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 10,978 shares of the firm’s 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 completion of the transaction, the chief executive officer directly owned 232,907 shares of the company’s stock, valued at $6,856,782.08. This trade represents a 4.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.

Wall Street Analyst Weigh In

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