Ritholtz Wealth Management Makes New $1.24 Million Investment in Tactile Systems Technology, Inc. $TCMD

Ritholtz Wealth Management purchased a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 47,285 shares of the company’s stock, valued at approximately $1,236,000. Ritholtz Wealth Management owned 0.21% of Tactile Systems Technology at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in shares of Tactile Systems Technology by 2.1% in the first quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company’s stock valued at $2,471,000 after buying an additional 3,898 shares during the period. Rhumbline Advisers lifted its stake in Tactile Systems Technology by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 37,780 shares of the company’s stock valued at $383,000 after purchasing an additional 1,441 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Tactile Systems Technology by 11.2% during the 2nd quarter. American Century Companies Inc. now owns 53,264 shares of the company’s stock valued at $540,000 after acquiring an additional 5,364 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Tactile Systems Technology by 3.5% during the second quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock valued at $247,000 after purchasing an additional 835 shares in the last quarter. Finally, Norges Bank bought a new stake in Tactile Systems Technology during the 2nd quarter worth approximately $1,464,000. Institutional investors own 83.43% of the company’s stock.

Insider Buying and Selling

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 4,631 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $24.49, for a total value of $113,413.19. Following the transaction, the chief financial officer owned 130,188 shares of the company’s stock, valued at approximately $3,188,304.12. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.10% of the company’s stock.

Tactile Systems Technology Price Performance

Shares of Tactile Systems Technology stock opened at $30.28 on Monday. The company has a market cap of $683.12 million, a PE ratio of 34.41 and a beta of 0.83. The business has a 50 day moving average price of $25.18 and a 200-day moving average price of $27.11. Tactile Systems Technology, Inc. has a 52 week low of $9.41 and a 52 week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.08) earnings per share 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 company had revenue of $75.27 million for the quarter, compared to the consensus estimate of $70.57 million. As a group, research analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Weiss Ratings downgraded Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. BTIG Research reaffirmed a “buy” rating and set a $40.00 price target on shares of Tactile Systems Technology in a research report on Thursday, May 21st. Finally, B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $32.00 to $36.00 in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.60.

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.