Punch & Associates Investment Management Inc. Buys New Shares in Tactile Systems Technology, Inc. $TCMD

Punch & Associates Investment Management Inc. purchased a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 315,000 shares of the company’s stock, valued at approximately $9,381,000. Punch & Associates Investment Management Inc. owned 1.39% of Tactile Systems Technology at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. LSV Asset Management lifted its holdings in shares of Tactile Systems Technology by 119.8% during the 4th quarter. LSV Asset Management now owns 323,004 shares of the company’s stock worth $9,367,000 after acquiring an additional 176,059 shares during the period. Vanguard Group Inc. raised its position in Tactile Systems Technology by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company’s stock worth $47,884,000 after purchasing an additional 76,198 shares in the last quarter. RFG Advisory LLC bought a new position in Tactile Systems Technology during the fourth quarter worth about $1,529,000. Globeflex Capital L P bought a new position in Tactile Systems Technology during the second quarter worth about $6,620,000. Finally, Deutsche Bank AG acquired a new stake in Tactile Systems Technology during the second quarter valued at approximately $5,145,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Tactile Systems Technology Trading Down 0.3%

NASDAQ:TCMD opened at $23.51 on Thursday. Tactile Systems Technology, Inc. has a 1 year low of $12.91 and a 1 year high of $37.77. The firm has a 50 day moving average of $27.69 and a 200-day moving average of $26.64. The stock has a market capitalization of $532.50 million, a P/E ratio of 21.77 and a beta of 0.81.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, August 10th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.20. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%.The business had revenue of $85.70 million for the quarter, compared to analyst estimates of $85.52 million. As a group, analysts forecast that Tactile Systems Technology, Inc. will post 1.07 EPS for the current fiscal year.

Analyst Ratings Changes

TCMD has been the topic of several analyst reports. Wall Street Zen lowered Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and boosted their price target for the company from $32.00 to $36.00 in a research note on Thursday, May 7th. BTIG Research lowered their price target on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Finally, Weiss Ratings upgraded Tactile Systems Technology from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.40.

Insider Buying and Selling at Tactile Systems Technology

In related news, CEO Sheri Louise Dodd sold 10,978 shares of Tactile Systems Technology stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $29.44, for a total value of $323,192.32. Following the completion of the transaction, the chief executive officer directly owned 232,907 shares of the company’s stock, valued at $6,856,782.08. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.10% of the company’s stock.

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.