Man Group plc Takes $1.60 Million Position in Tactile Systems Technology, Inc. $TCMD

Man Group plc acquired a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 53,610 shares of the company’s stock, valued at approximately $1,597,000.

A number of other hedge funds have also recently bought and sold shares of the company. Jupiter Topco LLC purchased a new stake in Tactile Systems Technology in the 2nd quarter worth approximately $11,831,000. Canada Pension Plan Investment Board purchased a new position in shares of Tactile Systems Technology during the 2nd quarter worth $319,000. Legal & General Group Plc acquired a new stake in shares of Tactile Systems Technology during the second quarter worth $182,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of Tactile Systems Technology during the second quarter worth $6,826,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Tactile Systems Technology in the second quarter valued at $273,000. Institutional investors and hedge funds own 83.43% of the company’s stock.

Insider Buying and Selling at Tactile Systems Technology

In other news, CEO Sheri Louise Dodd sold 10,978 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $29.44, for a total value of $323,192.32. Following the completion of the sale, the chief executive officer owned 232,907 shares in the company, valued at approximately $6,856,782.08. This trade represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 insiders.

Tactile Systems Technology Trading Up 0.7%

Shares of TCMD stock opened at $22.41 on Thursday. The company’s fifty day simple moving average is $27.30 and its 200-day simple moving average is $26.48. Tactile Systems Technology, Inc. has a 52 week low of $12.91 and a 52 week high of $37.77. The company has a market cap of $507.59 million, a PE ratio of 20.75 and a beta of 0.80.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $85.70 million during the quarter, compared to analysts’ expectations of $85.52 million. Equities research analysts expect that Tactile Systems Technology, Inc. will post 1.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TCMD shares. Wall Street Zen lowered Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. 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 report on Thursday, May 7th. BTIG Research dropped their price objective on shares of Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Finally, Weiss Ratings cut shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Tactile Systems Technology currently has a consensus rating of “Moderate Buy” and an average target price of $38.40.

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.