LSV Asset Management Increases Stake in Tactile Systems Technology, Inc. $TCMD

LSV Asset Management grew its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 304.8% during the 3rd quarter, Holdings Channel reports. The fund owned 146,945 shares of the company’s stock after buying an additional 110,645 shares during the period. LSV Asset Management’s holdings in Tactile Systems Technology were worth $2,034,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of Tactile Systems Technology by 2.1% in 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 in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Tactile Systems Technology during the second quarter valued at about $497,000. Pinnacle Associates Ltd. increased its position in Tactile Systems Technology by 5.5% in the second quarter. Pinnacle Associates Ltd. now owns 340,374 shares of the company’s stock worth $3,451,000 after buying an additional 17,850 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Tactile Systems Technology by 248.3% in the second quarter. Acadian Asset Management LLC now owns 683,662 shares of the company’s stock worth $6,930,000 after buying an additional 487,392 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of Tactile Systems Technology during the 2nd quarter valued at about $134,000. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Stock Performance

TCMD stock opened at $26.45 on Tuesday. The company’s fifty day moving average price is $28.99 and its 200-day moving average price is $21.09. Tactile Systems Technology, Inc. has a one year low of $8.61 and a one year high of $31.38. The company has a market capitalization of $590.89 million, a PE ratio of 34.35 and a beta of 0.96.

Insider Activity at Tactile Systems Technology

In other news, VP Kristie Burns sold 5,139 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $28.85, for a total transaction of $148,260.15. Following the completion of the transaction, the vice president owned 72,401 shares in the company, valued at $2,088,768.85. This trade represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TCMD shares. Zacks Research lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Piper Sandler set a $35.00 price target on shares of Tactile Systems Technology in a research report on Monday, January 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Tactile Systems Technology in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Finally, Lake Street Capital upped their target price on shares of Tactile Systems Technology from $23.50 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.75.

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.