Burney Co. Takes $2.06 Million Position in Tactile Systems Technology, Inc. $TCMD

Burney Co. acquired a new position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 78,936 shares of the company’s stock, valued at approximately $2,063,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TCMD. Next Century Growth Investors LLC bought a new stake in Tactile Systems Technology in the fourth quarter valued at approximately $11,309,000. Marshall Wace LLP bought a new position in Tactile Systems Technology during the fourth quarter worth $7,700,000. Janus Henderson Group PLC acquired a new position in Tactile Systems Technology in the fourth quarter valued at $5,503,000. LSV Asset Management boosted its position in Tactile Systems Technology by 119.8% during the fourth quarter. LSV Asset Management now owns 323,004 shares of the company’s stock valued at $9,367,000 after acquiring an additional 176,059 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in Tactile Systems Technology during the fourth quarter valued at $4,895,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TCMD has been the subject of a number of recent analyst reports. BTIG Research reiterated a “buy” rating and set a $40.00 price target on shares of Tactile Systems Technology in a report on Thursday, May 21st. Weiss Ratings lowered Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Finally, B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and raised their target price for the stock from $32.00 to $36.00 in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.60.

Insider Transactions at Tactile Systems Technology

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 4,631 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $24.49, for a total transaction of $113,413.19. Following the completion of the sale, the chief financial officer owned 130,188 shares in the company, valued at approximately $3,188,304.12. The trade was a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.10% of the company’s stock.

Tactile Systems Technology Price Performance

Shares of Tactile Systems Technology stock opened at $31.49 on Wednesday. Tactile Systems Technology, Inc. has a one year low of $9.41 and a one year high of $37.77. The firm has a market capitalization of $710.41 million, a price-to-earnings ratio of 35.78 and a beta of 0.79. The business has a 50-day simple moving average of $26.00 and a 200 day simple moving average of $27.23.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Tactile Systems Technology had a return on equity of 9.70% and a net margin of 5.91%.The firm had revenue of $75.27 million during the quarter, compared to the consensus estimate of $70.57 million. On average, sell-side analysts expect that Tactile Systems Technology, Inc. will post 1.11 EPS for the current year.

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.