Segall Bryant & Hamill LLC Purchases New Holdings in Tactile Systems Technology, Inc. $TCMD

Segall Bryant & Hamill LLC acquired a new position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the first quarter, Holdings Channel reports. The firm acquired 49,382 shares of the company’s stock, valued at approximately $1,290,000.

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

Insider Transactions at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 130,188 shares in the company, valued at approximately $3,188,304.12. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed 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. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $32.00 to $36.00 in a research note on Thursday, May 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tactile Systems Technology in a report on Monday. Finally, BTIG Research reissued a “buy” rating and issued a $40.00 price target on shares of Tactile Systems Technology in a research report on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.60.

Tactile Systems Technology Stock Down 0.5%

NASDAQ TCMD opened at $29.98 on Thursday. The stock has a market capitalization of $676.35 million, a PE ratio of 34.07 and a beta of 0.81. Tactile Systems Technology, Inc. has a 12-month low of $11.87 and a 12-month high of $37.77. The company has a 50 day moving average price of $27.86 and a two-hundred day moving average price of $27.08.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.08) EPS 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 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, equities analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 EPS for the current year.

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.