Evolve Private Wealth LLC Purchases New Holdings in Tactile Systems Technology, Inc. $TCMD

Evolve Private Wealth LLC acquired a new position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 17,700 shares of the company’s stock, valued at approximately $463,000. Evolve Private Wealth LLC owned 0.08% of Tactile Systems Technology at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TCMD. Caitong International Asset Management Co. Ltd bought a new stake in Tactile Systems Technology in the 4th quarter valued at $91,000. Pacer Advisors Inc. acquired a new stake in shares of Tactile Systems Technology during the 4th quarter valued at about $1,610,000. Invesco Ltd. boosted its position in shares of Tactile Systems Technology by 180.8% during the 4th quarter. Invesco Ltd. now owns 160,333 shares of the company’s stock valued at $4,650,000 after acquiring an additional 103,237 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in Tactile Systems Technology in the fourth quarter valued at about $278,000. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in Tactile Systems Technology in the fourth quarter valued at about $551,000. Institutional investors and hedge funds own 83.43% of the company’s stock.

Insiders Place Their Bets

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 4,631 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was 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. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing 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.

Analysts Set New Price Targets

A number of research analysts have commented on TCMD shares. B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and raised their price target for the stock from $32.00 to $36.00 in a research note on Thursday, May 7th. Weiss Ratings lowered Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, BTIG Research reissued a “buy” rating and issued a $40.00 target price on shares of Tactile Systems Technology in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.60.

Tactile Systems Technology Trading Up 8.1%

Tactile Systems Technology stock opened at $30.28 on Friday. Tactile Systems Technology, Inc. has a 1 year low of $9.41 and a 1 year high of $37.77. The company has a market cap of $683.12 million, a PE ratio of 34.41 and a beta of 0.83. The company’s 50-day moving average is $25.18 and its two-hundred day moving average is $27.12.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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. Research analysts forecast that Tactile Systems Technology, Inc. will post 1.11 EPS for the current 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.