Invesco Ltd. Purchases 5,879 Shares of Tactile Systems Technology, Inc. $TCMD

Invesco Ltd. raised its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 19.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,637 shares of the company’s stock after purchasing an additional 5,879 shares during the period. Invesco Ltd. owned 0.15% of Tactile Systems Technology worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TCMD. Millennium Management LLC bought a new position in Tactile Systems Technology during the fourth quarter valued at $2,793,000. Victory Capital Management Inc. bought a new position in shares of Tactile Systems Technology in the first quarter worth $1,160,000. Dimensional Fund Advisors LP boosted its holdings in shares of Tactile Systems Technology by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company’s stock worth $15,444,000 after acquiring an additional 67,934 shares during the period. Bank of America Corp DE boosted its holdings in shares of Tactile Systems Technology by 67.5% in the fourth quarter. Bank of America Corp DE now owns 101,867 shares of the company’s stock worth $1,745,000 after acquiring an additional 41,037 shares during the period. Finally, Koss Olinger Consulting LLC bought a new position in shares of Tactile Systems Technology in the first quarter worth $487,000. 83.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 7,762 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $12.36, for a total transaction of $95,938.32. Following the sale, the chief executive officer owned 173,479 shares in the company, valued at $2,144,200.44. This trade represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.50% of the stock is owned by insiders.

Tactile Systems Technology Price Performance

NASDAQ:TCMD opened at $13.46 on Friday. The firm has a market capitalization of $300.02 million, a price-to-earnings ratio of 21.71 and a beta of 1.04. Tactile Systems Technology, Inc. has a 52-week low of $8.61 and a 52-week high of $21.10. The stock has a fifty day moving average of $11.41 and a 200 day moving average of $11.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 3.79.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $78.91 million during the quarter, compared to analyst estimates of $73.93 million. Tactile Systems Technology had a return on equity of 7.72% and a net margin of 5.06%. Tactile Systems Technology has set its FY 2025 guidance at EPS. On average, research analysts expect that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TCMD. B. Riley reaffirmed a “neutral” rating and issued a $13.00 price target (up from $12.00) on shares of Tactile Systems Technology in a report on Tuesday, August 5th. William Blair raised shares of Tactile Systems Technology to a “strong-buy” rating in a report on Tuesday, August 5th. Finally, Wall Street Zen raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.50.

About Tactile Systems Technology

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.