Mangrove Partners IM LLC Purchases Shares of 27,212 Tactile Systems Technology, Inc. $TCMD

Mangrove Partners IM LLC purchased a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 27,212 shares of the company’s stock, valued at approximately $789,000. Mangrove Partners IM LLC owned approximately 0.12% of Tactile Systems Technology as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TCMD. Next Century Growth Investors LLC acquired a new position in Tactile Systems Technology during the fourth quarter valued at approximately $11,309,000. Marshall Wace LLP acquired a new position in Tactile Systems Technology during the fourth quarter valued at approximately $7,700,000. LSV Asset Management lifted its position in Tactile Systems Technology by 119.8% during the fourth quarter. LSV Asset Management now owns 323,004 shares of the company’s stock valued at $9,367,000 after buying an additional 176,059 shares in the last quarter. Federated Hermes Inc. lifted its position in Tactile Systems Technology by 42.7% during the second quarter. Federated Hermes Inc. now owns 551,561 shares of the company’s stock valued at $5,593,000 after buying an additional 165,163 shares in the last quarter. Finally, Norges Bank acquired a new position in Tactile Systems Technology during the second quarter valued at approximately $1,464,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tactile Systems Technology

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 4,631 shares of the business’s stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is owned by company insiders.

Tactile Systems Technology Stock Up 0.3%

Tactile Systems Technology stock opened at $26.43 on Wednesday. The stock has a 50-day simple moving average of $24.72 and a 200 day simple moving average of $27.07. Tactile Systems Technology, Inc. has a 12-month low of $9.41 and a 12-month high of $37.77. The stock has a market capitalization of $596.16 million, a price-to-earnings ratio of 30.03 and a beta of 0.83.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $75.27 million during the quarter, compared to analyst estimates of $70.57 million. Tactile Systems Technology had a return on equity of 9.70% and a net margin of 5.91%. As a group, sell-side analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TCMD. BTIG Research reissued a “buy” rating and set a $40.00 target price on shares of Tactile Systems Technology in a research report on Thursday, May 21st. 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. B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their price target for the stock from $32.00 to $36.00 in a research report on Thursday, May 7th. Piper Sandler increased their target price on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings lowered shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.60.

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.