CWA Asset Management Group LLC Makes New Investment in Tactile Systems Technology, Inc. $TCMD

CWA Asset Management Group LLC purchased a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 54,722 shares of the company’s stock, valued at approximately $1,587,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in shares of Tactile Systems Technology by 1,594.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after acquiring an additional 1,993 shares in the last quarter. Quarry LP raised its position in shares of Tactile Systems Technology by 302.6% during the third quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after purchasing an additional 1,743 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of Tactile Systems Technology during the third quarter worth $47,000. BNP Paribas Financial Markets lifted its holdings in shares of Tactile Systems Technology by 95.8% during the third quarter. BNP Paribas Financial Markets now owns 4,526 shares of the company’s stock valued at $63,000 after purchasing an additional 2,214 shares during the last quarter. Finally, Oxford Asset Management LLP purchased a new stake in shares of Tactile Systems Technology during the second quarter valued at $124,000. Institutional investors and hedge funds own 83.43% of the company’s stock.

Tactile Systems Technology Price Performance

NASDAQ:TCMD opened at $26.10 on Monday. Tactile Systems Technology, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $37.77. The stock’s 50-day moving average is $28.65 and its two-hundred day moving average is $23.80. The stock has a market cap of $593.78 million, a PE ratio of 31.45 and a beta of 0.97.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $103.59 million during the quarter, compared to analyst estimates of $93.80 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.26%. On average, equities research analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Insider Buying and Selling at Tactile Systems Technology

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 7,701 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total value of $222,866.94. Following the completion of the sale, the chief financial officer owned 134,819 shares in the company, valued at $3,901,661.86. This represents a 5.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kristie Burns sold 6,246 shares of Tactile Systems Technology stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total transaction of $180,759.24. Following the sale, the vice president directly owned 82,581 shares of the company’s stock, valued at $2,389,894.14. This trade represents a 7.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 55,276 shares of company stock worth $1,583,099. 2.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Piper Sandler increased their price target on Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Zacks Research lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Lake Street Capital set a $40.00 target price on shares of Tactile Systems Technology and gave the stock a “buy” rating in a report on Wednesday, February 18th. Raymond James Financial set a $35.00 target price on shares of Tactile Systems Technology in a research report on Monday, January 5th. Finally, BTIG Research boosted their price target on shares of Tactile Systems Technology from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.40.

About Tactile Systems Technology

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.