CWA Asset Management Group LLC Buys Shares of 54,722 Tactile Systems Technology, Inc. $TCMD

CWA Asset Management Group LLC bought a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 54,722 shares of the company’s stock, valued at approximately $1,587,000. CWA Asset Management Group LLC owned about 0.24% of Tactile Systems Technology at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Federated Hermes Inc. boosted its position in Tactile Systems Technology by 42.7% during the 2nd quarter. Federated Hermes Inc. now owns 551,561 shares of the company’s stock valued at $5,593,000 after purchasing an additional 165,163 shares during the period. Norges Bank bought a new position in Tactile Systems Technology during the 2nd quarter worth $1,464,000. LSV Asset Management increased its position in Tactile Systems Technology by 304.8% in the third quarter. LSV Asset Management now owns 146,945 shares of the company’s stock worth $2,034,000 after buying an additional 110,645 shares during the period. Bridgeway Capital Management LLC increased its position in Tactile Systems Technology by 297.3% in the third quarter. Bridgeway Capital Management LLC now owns 133,878 shares of the company’s stock worth $1,853,000 after buying an additional 100,178 shares during the period. Finally, Paradigm Capital Management Inc. NY lifted its stake in Tactile Systems Technology by 5.9% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock valued at $16,413,000 after buying an additional 89,600 shares during the last quarter. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on TCMD. Lake Street Capital set a $40.00 price target on shares of Tactile Systems Technology and gave the company a “buy” rating in a report on Wednesday, February 18th. Zacks Research downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. B. Riley Financial boosted their target price on shares of Tactile Systems Technology from $16.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Raymond James Financial set a $35.00 target price on shares of Tactile Systems Technology in a research report on Monday, January 5th. Finally, Piper Sandler upped their target price on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.40.

Insider Buying and Selling

In other news, CEO Sheri Louise Dodd sold 15,240 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $28.30, for a total transaction of $431,292.00. Following the completion of the transaction, the chief executive officer owned 254,878 shares in the company, valued at approximately $7,213,047.40. This trade represents a 5.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Kristie Burns sold 6,246 shares of Tactile Systems Technology stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total transaction of $180,759.24. Following the completion of the transaction, the vice president directly owned 82,581 shares in the company, valued at $2,389,894.14. This represents a 7.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,276 shares of company stock valued at $1,583,099 over the last three months. Company insiders own 2.50% of the company’s stock.

Tactile Systems Technology Stock Performance

Shares of TCMD stock opened at $26.10 on Monday. Tactile Systems Technology, Inc. has a 1 year low of $8.61 and a 1 year high of $37.77. The stock has a market cap of $593.78 million, a PE ratio of 31.45 and a beta of 0.97. The business’s fifty day moving average is $28.65 and its 200-day moving average is $23.80.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $103.59 million for the quarter, compared to the consensus estimate of $93.80 million. Tactile Systems Technology had a return on equity of 9.26% and a net margin of 5.79%. Equities research analysts predict that Tactile Systems Technology, Inc. will post 0.7 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.