Deutsche Bank AG Makes New Investment in Tactile Systems Technology, Inc. $TCMD

Deutsche Bank AG purchased a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 172,782 shares of the company’s stock, valued at approximately $5,145,000.

A number of other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Tactile Systems Technology in the fourth quarter worth $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Tactile Systems Technology during the 4th quarter valued at $36,000. Global Retirement Partners LLC purchased a new position in shares of Tactile Systems Technology during the 4th quarter valued at $37,000. Russell Investments Group Ltd. boosted its holdings in Tactile Systems Technology by 1,594.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after buying an additional 1,993 shares during the period. Finally, Quarry LP boosted its holdings in Tactile Systems Technology by 302.6% in the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after buying an additional 1,743 shares during the period. 83.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Sheri Louise Dodd sold 10,978 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the sale, the chief executive officer directly owned 232,907 shares in the company, valued at approximately $6,856,782.08. This represents a 4.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company’s stock.

Tactile Systems Technology Stock Performance

Shares of TCMD opened at $23.36 on Tuesday. The company’s fifty day moving average is $27.80 and its 200 day moving average is $26.70. Tactile Systems Technology, Inc. has a fifty-two week low of $12.81 and a fifty-two week high of $37.77. The stock has a market capitalization of $529.10 million, a PE ratio of 21.63 and a beta of 0.81.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Monday, August 10th. The company reported $0.34 EPS for the quarter, beating the consensus estimate 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 business had revenue of $85.70 million during the quarter, compared to analyst estimates of $85.52 million. As a group, research analysts forecast that Tactile Systems Technology, Inc. will post 1.07 earnings per share for the current year.

Analysts Set New Price Targets

TCMD has been the subject of a number of analyst reports. B. Riley Financial upgraded 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. BTIG Research lowered their price target on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Weiss Ratings upgraded Tactile Systems Technology from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Finally, Wall Street Zen lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.