LSV Asset Management Grows Stock Holdings in Tactile Systems Technology, Inc. $TCMD

LSV Asset Management lifted its stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 304.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,945 shares of the company’s stock after purchasing an additional 110,645 shares during the quarter. LSV Asset Management owned about 0.66% of Tactile Systems Technology worth $2,034,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oxford Asset Management LLP bought a new stake in Tactile Systems Technology in the second quarter worth $124,000. Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of Tactile Systems Technology in the 2nd quarter worth about $134,000. State of Wyoming boosted its stake in Tactile Systems Technology by 185.0% in the 3rd quarter. State of Wyoming now owns 10,656 shares of the company’s stock worth $147,000 after purchasing an additional 6,917 shares in the last quarter. Strs Ohio purchased a new stake in Tactile Systems Technology during the 3rd quarter valued at about $147,000. Finally, Perkins Capital Management Inc. grew its position in Tactile Systems Technology by 25.6% during the 3rd quarter. Perkins Capital Management Inc. now owns 14,066 shares of the company’s stock valued at $195,000 after purchasing an additional 2,866 shares during the last quarter. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Price Performance

NASDAQ TCMD opened at $26.45 on Tuesday. The stock has a market capitalization of $590.89 million, a price-to-earnings ratio of 34.35 and a beta of 0.96. Tactile Systems Technology, Inc. has a 1-year low of $8.61 and a 1-year high of $31.38. The business’s fifty day moving average price is $28.99 and its 200-day moving average price is $21.09.

Analysts Set New Price Targets

Several brokerages have issued reports on TCMD. Lake Street Capital lifted their target price on shares of Tactile Systems Technology from $23.50 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tactile Systems Technology in a research report on Monday, December 29th. Raymond James Financial set a $35.00 target price on Tactile Systems Technology in a research note on Monday, January 5th. Zacks Research cut Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.75.

Insiders Place Their Bets

In other Tactile Systems Technology news, VP Kristie Burns sold 5,139 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $28.85, for a total value of $148,260.15. Following the transaction, the vice president directly owned 72,401 shares of the company’s stock, valued at approximately $2,088,768.85. This trade represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

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.