Punch & Associates Investment Management Inc. Cuts Stock Holdings in Tactile Systems Technology, Inc. $TCMD

Punch & Associates Investment Management Inc. reduced its position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 19.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,000 shares of the company’s stock after selling 73,975 shares during the period. Punch & Associates Investment Management Inc.’s holdings in Tactile Systems Technology were worth $7,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in Tactile Systems Technology by 2.1% in the first quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company’s stock valued at $2,471,000 after buying an additional 3,898 shares in the last quarter. Rhumbline Advisers raised its position in shares of Tactile Systems Technology by 4.0% in the second quarter. Rhumbline Advisers now owns 37,780 shares of the company’s stock worth $383,000 after acquiring an additional 1,441 shares during the period. American Century Companies Inc. boosted its stake in shares of Tactile Systems Technology by 11.2% during the 2nd quarter. American Century Companies Inc. now owns 53,264 shares of the company’s stock worth $540,000 after acquiring an additional 5,364 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Tactile Systems Technology by 3.5% during the 2nd quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock worth $247,000 after acquiring an additional 835 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Tactile Systems Technology during the 2nd quarter valued at about $1,464,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $24.49, for a total value of $113,413.19. Following the transaction, the chief financial officer directly owned 130,188 shares of the company’s stock, valued at approximately $3,188,304.12. This trade represents a 3.43% decrease in their position. The sale was disclosed in a filing 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. 2.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TCMD. B. Riley Financial upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating and lifted their price target for the company from $32.00 to $36.00 in a research note on Thursday, May 7th. Weiss Ratings downgraded Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Finally, BTIG Research reissued a “buy” rating and issued a $40.00 price objective on shares of Tactile Systems Technology in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.60.

Tactile Systems Technology Stock Performance

NASDAQ:TCMD opened at $27.48 on Friday. The company has a fifty day moving average of $27.25 and a two-hundred day moving average of $27.20. The stock has a market capitalization of $619.95 million, a PE ratio of 31.23 and a beta of 0.79. Tactile Systems Technology, Inc. has a fifty-two week low of $9.60 and a fifty-two week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data 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 net margin of 5.91% and a return on equity of 9.70%. The company had revenue of $75.27 million for the quarter, compared to analysts’ expectations of $70.57 million. Research analysts forecast that Tactile Systems Technology, Inc. will post 1.11 earnings per share for the current year.

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.