Invesco Ltd. Acquires 5,879 Shares of Tactile Systems Technology, Inc. $TCMD

Invesco Ltd. raised its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 19.8% during the first quarter, Holdings Channel reports. The fund owned 35,637 shares of the company’s stock after buying an additional 5,879 shares during the period. Invesco Ltd.’s holdings in Tactile Systems Technology were worth $471,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TCMD. Raymond James Financial Inc. bought a new position in Tactile Systems Technology during the fourth quarter valued at approximately $330,000. Dimensional Fund Advisors LP grew its position in Tactile Systems Technology by 8.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company’s stock valued at $15,444,000 after acquiring an additional 67,934 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Tactile Systems Technology by 11.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,008 shares of the company’s stock valued at $343,000 after acquiring an additional 2,006 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Tactile Systems Technology by 0.7% in the fourth quarter. Northern Trust Corp now owns 205,914 shares of the company’s stock worth $3,527,000 after buying an additional 1,371 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Tactile Systems Technology by 161.6% in the fourth quarter. Jane Street Group LLC now owns 56,403 shares of the company’s stock worth $966,000 after buying an additional 34,846 shares during the period. 83.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tactile Systems Technology

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 7,762 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $12.36, for a total transaction of $95,938.32. Following the transaction, the chief executive officer owned 173,479 shares in the company, valued at approximately $2,144,200.44. This represents a 4.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.50% of the company’s stock.

Tactile Systems Technology Stock Performance

NASDAQ:TCMD opened at $13.46 on Friday. The stock has a market cap of $300.02 million, a P/E ratio of 21.71 and a beta of 1.04. The firm’s fifty day simple moving average is $11.41 and its 200 day simple moving average is $11.94. Tactile Systems Technology, Inc. has a twelve month low of $8.61 and a twelve month high of $21.10. The company has a quick ratio of 3.36, a current ratio of 3.79 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, August 4th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The business had revenue of $78.91 million for the quarter, compared to analysts’ expectations of $73.93 million. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.72%. Tactile Systems Technology has set its FY 2025 guidance at EPS. As a group, research analysts predict that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on TCMD. Wall Street Zen upgraded Tactile Systems Technology from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. William Blair upgraded Tactile Systems Technology to a “strong-buy” rating in a report on Tuesday, August 5th. Finally, B. Riley reiterated a “neutral” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Tactile Systems Technology in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.50.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.