Tactile Systems Technology, Inc. $TCMD Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 32.3% in the 1st quarter, HoldingsChannel reports. The firm owned 510,897 shares of the company’s stock after purchasing an additional 124,597 shares during the period. Renaissance Technologies LLC’s holdings in Tactile Systems Technology were worth $13,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in Tactile Systems Technology by 2.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company’s stock worth $2,471,000 after purchasing an additional 3,898 shares during the period. Rhumbline Advisers raised its stake in shares of Tactile Systems Technology by 4.0% during the 2nd quarter. Rhumbline Advisers now owns 37,780 shares of the company’s stock worth $383,000 after buying an additional 1,441 shares in the last quarter. American Century Companies Inc. raised its stake 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 worth $540,000 after buying an additional 5,364 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Tactile Systems Technology by 3.5% in the 2nd quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock valued at $247,000 after buying an additional 835 shares during the period. Finally, Norges Bank acquired a new stake in shares of Tactile Systems Technology in the 2nd quarter valued at approximately $1,464,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Stock Down 0.1%

Tactile Systems Technology stock opened at $28.17 on Friday. The firm has a market capitalization of $635.52 million, a PE ratio of 32.01 and a beta of 0.79. Tactile Systems Technology, Inc. has a 52 week low of $9.60 and a 52 week high of $37.77. The firm’s 50-day simple moving average is $27.57 and its 200 day simple moving average is $27.11.

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). The business had revenue of $75.27 million for the quarter, compared to analysts’ expectations of $70.57 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. On average, research analysts expect that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.

Insider Activity

In other news, CFO Elaine M. Birkemeyer sold 4,631 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were 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 $3,188,304.12. This represents 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 available through the SEC website. 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.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TCMD. B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $32.00 to $36.00 in a report on Thursday, May 7th. Weiss Ratings downgraded Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Finally, BTIG Research reissued a “buy” rating and issued a $40.00 target price on shares of Tactile Systems Technology in a report on Thursday, May 21st. One 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 stock. Based on data from MarketBeat.com, Tactile Systems Technology has a consensus rating of “Moderate Buy” and an average price target 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.