Inspire Investing LLC Buys New Stake in Tactile Systems Technology, Inc. $TCMD

Inspire Investing LLC purchased a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 59,794 shares of the company’s stock, valued at approximately $1,562,000. Inspire Investing LLC owned about 0.26% of Tactile Systems Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its stake in shares of Tactile Systems Technology by 1,594.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock valued at $29,000 after buying an additional 1,993 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Tactile Systems Technology during the fourth quarter valued at approximately $32,000. Quarry LP lifted its holdings in Tactile Systems Technology by 302.6% in the third quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after acquiring an additional 1,743 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Tactile Systems Technology in the fourth quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC purchased a new stake in Tactile Systems Technology in the 4th quarter worth approximately $37,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. 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 note on Thursday, May 7th. Weiss Ratings downgraded shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Finally, BTIG Research restated a “buy” rating and set a $40.00 price target on shares of Tactile Systems Technology in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.60.

Insiders Place Their Bets

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of Tactile Systems Technology stock in a transaction dated 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 directly 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 filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company’s stock.

Tactile Systems Technology Stock Performance

NASDAQ:TCMD opened at $30.65 on Thursday. The company has a fifty day moving average of $25.46 and a two-hundred day moving average of $27.15. The stock has a market capitalization of $691.46 million, a PE ratio of 34.83 and a beta of 0.79. Tactile Systems Technology, Inc. has a fifty-two week low of $9.41 and a fifty-two week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last announced 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). The company had revenue of $75.27 million during the quarter, compared to analyst estimates of $70.57 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. Research analysts forecast that Tactile Systems Technology, Inc. will post 1.11 earnings per share 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.