222,298 Shares in Tactile Systems Technology, Inc. $TCMD Bought by Globeflex Capital L P

Globeflex Capital L P 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 222,298 shares of the company’s stock, valued at approximately $6,620,000. Tactile Systems Technology comprises about 0.8% of Globeflex Capital L P’s holdings, making the stock its 29th biggest holding. Globeflex Capital L P owned approximately 0.98% of Tactile Systems Technology as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TCMD. Quantinno Capital Management LP grew its stake in shares of Tactile Systems Technology by 1.3% in the 1st quarter. Quantinno Capital Management LP now owns 53,612 shares of the company’s stock worth $1,401,000 after acquiring an additional 684 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Tactile Systems Technology by 3.5% in the second quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock valued at $247,000 after purchasing an additional 835 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Tactile Systems Technology by 36.4% during the second quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock valued at $98,000 after purchasing an additional 876 shares in the last quarter. Strs Ohio lifted its position in shares of Tactile Systems Technology by 4.1% during the first quarter. Strs Ohio now owns 22,700 shares of the company’s stock valued at $593,000 after purchasing an additional 900 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Tactile Systems Technology during the fourth quarter worth about $32,000. 83.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Sheri Louise Dodd sold 10,978 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction 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. This represents a 4.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 currently owned by insiders.

Tactile Systems Technology Price Performance

NASDAQ TCMD opened at $23.82 on Monday. The business’s fifty day moving average is $27.86 and its 200-day moving average is $26.73. The stock has a market capitalization of $539.52 million, a price-to-earnings ratio of 22.06 and a beta of 0.81. Tactile Systems Technology, Inc. has a one year low of $12.78 and a one year high of $37.77.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TCMD. Weiss Ratings raised shares of Tactile Systems Technology from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Wall Street Zen cut shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. BTIG Research cut their target price on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Finally, B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their target price for the company from $32.00 to $36.00 in a report on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.40.

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.