Punch & Associates Investment Management Inc. Has $10.85 Million Stock Holdings in Tactile Systems Technology, Inc. $TCMD

Punch & Associates Investment Management Inc. grew its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 373,975 shares of the company’s stock after buying an additional 27,850 shares during the quarter. Punch & Associates Investment Management Inc. owned 1.67% of Tactile Systems Technology worth $10,845,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in TCMD. Next Century Growth Investors LLC acquired a new position in shares of Tactile Systems Technology in the 4th quarter valued at $11,309,000. Marshall Wace LLP acquired a new position in shares of Tactile Systems Technology in the 4th quarter valued at $7,700,000. LSV Asset Management raised its stake in shares of Tactile Systems Technology by 119.8% in the 4th 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. raised its stake in shares of Tactile Systems Technology by 42.7% in the 2nd 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 shares of Tactile Systems Technology in the 2nd quarter valued at $1,464,000. Institutional investors and hedge funds 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 stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $24.49, for a total transaction of $113,413.19. Following the sale, the chief financial officer owned 130,188 shares of the company’s stock, valued at $3,188,304.12. This represents a 3.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is currently owned by corporate insiders.

Tactile Systems Technology Stock Performance

TCMD opened at $26.43 on Wednesday. The firm’s 50-day simple moving average is $24.72 and its 200-day simple moving average is $27.07. Tactile Systems Technology, Inc. has a twelve month low of $9.41 and a twelve month high of $37.77. The firm has a market cap of $596.16 million, a price-to-earnings ratio of 30.03 and a beta of 0.83.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results 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 return on equity of 9.70% and a net margin of 5.91%.The firm had revenue of $75.27 million during the quarter, compared to the consensus estimate of $70.57 million. As a group, sell-side analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TCMD shares. Piper Sandler increased their price objective on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. BTIG Research reaffirmed a “buy” rating and issued a $40.00 target price on shares of Tactile Systems Technology in a report on Thursday, May 21st. B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their target price for the stock from $32.00 to $36.00 in a report on Thursday, May 7th. Weiss Ratings lowered shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Finally, 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. 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.