Sei Investments Co. Acquires 32,995 Shares of Tactile Systems Technology, Inc. $TCMD

Sei Investments Co. lifted its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 101.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,511 shares of the company’s stock after buying an additional 32,995 shares during the period. Sei Investments Co.’s holdings in Tactile Systems Technology were worth $1,711,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TCMD. Russell Investments Group Ltd. grew its stake in shares of Tactile Systems Technology by 1,594.4% in the third 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 in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Tactile Systems Technology in the fourth quarter valued at $32,000. Quarry LP grew its position in shares of Tactile Systems Technology by 302.6% in the 3rd 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 shares of Tactile Systems Technology during the 4th quarter worth about $36,000. Finally, Global Retirement Partners LLC bought a new position in shares of Tactile Systems Technology in the fourth quarter worth $37,000. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Stock Down 1.2%

TCMD opened at $29.14 on Tuesday. Tactile Systems Technology, Inc. has a twelve month low of $12.01 and a twelve month high of $37.77. The company has a fifty day moving average of $28.13 and a 200-day moving average of $27.06. The stock has a market cap of $657.40 million, a PE ratio of 33.11 and a beta of 0.81.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.20. The company had revenue of $85.70 million for the quarter, compared to the consensus estimate of $85.52 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. Sell-side analysts anticipate that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. 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. B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their price target for the stock from $32.00 to $36.00 in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Tactile Systems Technology in a research report on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Tactile Systems Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.60.

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.