Tactile Systems Technology, Inc. $TCMD Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 32.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 510,897 shares of the company’s stock after purchasing an additional 124,597 shares during the period. Renaissance Technologies LLC owned 2.26% of Tactile Systems Technology worth $13,350,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. LSV Asset Management increased 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 worth $9,367,000 after buying an additional 176,059 shares during the period. Vanguard Group Inc. lifted its stake in Tactile Systems Technology by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company’s stock valued at $47,884,000 after buying an additional 76,198 shares during the last quarter. RFG Advisory LLC acquired a new stake in shares of Tactile Systems Technology in the fourth quarter valued at approximately $1,529,000. Punch & Associates Investment Management Inc. boosted its holdings in shares of Tactile Systems Technology by 8.0% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 373,975 shares of the company’s stock valued at $10,845,000 after acquiring an additional 27,850 shares during the period. Finally, Inspire Investing LLC purchased a new position in shares of Tactile Systems Technology during the first quarter worth approximately $1,562,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Stock Down 0.1%

TCMD opened at $28.17 on Friday. The business has a 50 day moving average price of $27.57 and a two-hundred day moving average price of $27.11. The company has a market cap of $635.52 million, a PE ratio of 32.01 and a beta of 0.79. Tactile Systems Technology, Inc. has a 52 week low of $9.60 and a 52 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 for the quarter, missing analysts’ consensus estimates 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 company had revenue of $75.27 million for the quarter, compared to analyst estimates of $70.57 million. As a group, sell-side analysts expect that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of the stock in a transaction on Monday, May 11th. The stock was 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 directly owned 130,188 shares of the company’s stock, valued at $3,188,304.12. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is owned by company insiders.

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.