Integrated Quantitative Investments LLC Purchases Shares of 26,049 Tactile Systems Technology, Inc. $TCMD

Integrated Quantitative Investments LLC acquired a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 26,049 shares of the company’s stock, valued at approximately $361,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in shares of Tactile Systems Technology by 248.3% during the second quarter. Acadian Asset Management LLC now owns 683,662 shares of the company’s stock worth $6,930,000 after purchasing an additional 487,392 shares during the period. Federated Hermes Inc. raised its position in Tactile Systems Technology by 42.7% during the 2nd quarter. Federated Hermes Inc. now owns 551,561 shares of the company’s stock valued at $5,593,000 after purchasing an additional 165,163 shares during the last quarter. Norges Bank bought a new position in Tactile Systems Technology during the 2nd quarter valued at approximately $1,464,000. LSV Asset Management lifted its holdings in Tactile Systems Technology by 304.8% in the 3rd quarter. LSV Asset Management now owns 146,945 shares of the company’s stock worth $2,034,000 after buying an additional 110,645 shares during the period. Finally, Paradigm Capital Management Inc. NY grew its position in shares of Tactile Systems Technology by 5.9% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock worth $16,413,000 after buying an additional 89,600 shares during the last quarter. 83.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 7,701 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total transaction of $222,866.94. Following the completion of the transaction, the chief financial officer owned 134,819 shares of the company’s stock, valued at approximately $3,901,661.86. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kristie Burns sold 6,246 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total value of $180,759.24. Following the completion of the sale, the vice president directly owned 82,581 shares in the company, valued at approximately $2,389,894.14. This represents a 7.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over 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.

Tactile Systems Technology Trading Down 2.5%

TCMD opened at $29.41 on Friday. The company has a market cap of $659.96 million, a price-to-earnings ratio of 35.43 and a beta of 0.97. The stock has a fifty day simple moving average of $29.10 and a two-hundred day simple moving average of $22.54. Tactile Systems Technology, Inc. has a 12-month low of $8.61 and a 12-month high of $37.77.

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

Wall Street Analyst Weigh In

TCMD has been the subject of a number of recent analyst reports. B. Riley Financial upped their target price on Tactile Systems Technology from $16.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Lake Street Capital set a $40.00 price objective on shares of Tactile Systems Technology and gave the company a “buy” rating in a research report on Wednesday, February 18th. Piper Sandler upped their price objective on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” 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, 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.