First Light Asset Management LLC Purchases New Shares in Tactile Systems Technology, Inc. $TCMD

First Light Asset Management LLC acquired a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the 2nd quarter, Holdings Channel reports. The firm acquired 462,562 shares of the company’s stock, valued at approximately $13,775,000.

A number of other large investors have also recently made changes to their positions in the business. Russell Investments Group Ltd. raised its position in shares of Tactile Systems Technology by 1,594.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock valued at $29,000 after buying an additional 1,993 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Tactile Systems Technology in the fourth quarter worth about $32,000. Quarry LP grew its position in Tactile Systems Technology by 302.6% in the third quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after acquiring an additional 1,743 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Tactile Systems Technology during the fourth quarter worth approximately $36,000. Finally, Global Retirement Partners LLC bought a new stake in Tactile Systems Technology during the fourth quarter worth approximately $37,000. 83.43% of the stock is currently owned by institutional investors.

Tactile Systems Technology Trading Up 1.3%

Shares of NASDAQ:TCMD opened at $22.02 on Thursday. Tactile Systems Technology, Inc. has a 12 month low of $13.14 and a 12 month high of $37.77. The company has a market capitalization of $498.75 million, a price-to-earnings ratio of 20.39 and a beta of 0.80. The firm’s 50-day moving average is $26.51 and its 200 day moving average is $26.25.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $85.52 million. As a group, equities analysts forecast that Tactile Systems Technology, Inc. will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling at Tactile Systems Technology

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. BTIG Research lowered their price objective on 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. Wall Street Zen downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings downgraded Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 31st. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.40.

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.