Segall Bryant & Hamill LLC Acquires New Holdings in Tactile Systems Technology, Inc. $TCMD

Segall Bryant & Hamill LLC bought a new position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 49,382 shares of the company’s stock, valued at approximately $1,290,000. Segall Bryant & Hamill LLC owned about 0.22% of Tactile Systems Technology at the end of the most recent quarter.

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

Insider Buying and Selling at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $24.49, for a total value of $113,413.19. Following the completion of the transaction, the chief financial officer owned 130,188 shares in the company, valued at $3,188,304.12. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TCMD shares. B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and increased their target price for the company from $32.00 to $36.00 in a research report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tactile Systems Technology in a report on Monday. Finally, BTIG Research reiterated a “buy” rating and set a $40.00 price objective on shares of Tactile Systems Technology in a research note on Thursday, May 21st. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Tactile Systems Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.60.

Tactile Systems Technology Stock Performance

Shares of NASDAQ:TCMD opened at $29.98 on Thursday. The company has a market capitalization of $676.35 million, a PE ratio of 34.07 and a beta of 0.81. The stock has a fifty day moving average of $27.86 and a 200-day moving average of $27.08. Tactile Systems Technology, Inc. has a one year low of $11.87 and a one year high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $75.27 million during the quarter, compared to analyst estimates of $70.57 million. Tactile Systems Technology had a return on equity of 9.70% and a net margin of 5.91%. As a group, research analysts forecast that Tactile Systems Technology, Inc. will post 1.11 EPS for the current fiscal 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.