Burney Co. Invests $2.06 Million in Tactile Systems Technology, Inc. $TCMD

Burney Co. purchased a new position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 78,936 shares of the company’s stock, valued at approximately $2,063,000. Burney Co. owned approximately 0.35% of Tactile Systems Technology at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake 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 worth $29,000 after purchasing an additional 1,993 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Tactile Systems Technology in the 4th quarter valued at $32,000. Quarry LP raised its holdings in shares of Tactile Systems Technology by 302.6% during the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after buying an additional 1,743 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Tactile Systems Technology during the 4th quarter worth $36,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Tactile Systems Technology during the 4th quarter worth $37,000. 83.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. BTIG Research reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Tactile Systems Technology in a research note on Thursday, May 21st. B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $32.00 to $36.00 in a research note on Thursday, May 7th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Tactile Systems Technology currently has an average rating of “Moderate Buy” and an average target price of $38.60.

Tactile Systems Technology Trading Down 1.2%

NASDAQ:TCMD opened at $31.49 on Wednesday. The stock’s 50-day moving average is $26.00 and its 200-day moving average is $27.23. Tactile Systems Technology, Inc. has a 1-year low of $9.41 and a 1-year high of $37.77. The stock has a market cap of $710.41 million, a P/E ratio of 35.78 and a beta of 0.79.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data 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). Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. The business had revenue of $75.27 million during the quarter, compared to the consensus estimate of $70.57 million. As a group, equities analysts forecast that Tactile Systems Technology, Inc. will post 1.11 EPS for the current year.

Insider Activity

In other news, CFO Elaine M. Birkemeyer sold 4,631 shares of Tactile Systems Technology stock in a transaction on Monday, May 11th. The shares were sold at an average price of $24.49, for a total transaction of $113,413.19. Following the transaction, the chief financial officer owned 130,188 shares in the company, valued at approximately $3,188,304.12. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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.

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.