Quarry LP Purchases Shares of 3,850 Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Quarry LP purchased a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,850 shares of the company’s stock, valued at approximately $46,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cadian Capital Management LP acquired a new position in shares of Tactile Systems Technology during the fourth quarter worth about $24,954,000. First Light Asset Management LLC lifted its stake in shares of Tactile Systems Technology by 38.1% during the fourth quarter. First Light Asset Management LLC now owns 2,859,954 shares of the company’s stock worth $40,897,000 after purchasing an additional 788,535 shares in the last quarter. Wasatch Advisors LP acquired a new position in shares of Tactile Systems Technology during the first quarter worth about $8,687,000. Pinnacle Associates Ltd. lifted its stake in shares of Tactile Systems Technology by 30.2% during the first quarter. Pinnacle Associates Ltd. now owns 74,611 shares of the company’s stock worth $1,212,000 after purchasing an additional 17,328 shares in the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new position in shares of Tactile Systems Technology during the first quarter worth about $167,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Trading Down 0.1 %

NASDAQ:TCMD opened at $14.45 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.89 and a current ratio of 4.44. Tactile Systems Technology, Inc. has a one year low of $9.69 and a one year high of $16.95. The business’s 50-day simple moving average is $13.38 and its 200 day simple moving average is $13.37. The stock has a market cap of $343.36 million, a price-to-earnings ratio of 12.04 and a beta of 1.18.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, August 5th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.10 by $0.10. The business had revenue of $73.22 million for the quarter, compared to analysts’ expectations of $72.62 million. Tactile Systems Technology had a return on equity of 16.94% and a net margin of 11.57%. As a group, sell-side analysts predict that Tactile Systems Technology, Inc. will post 0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on TCMD. StockNews.com upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 20th. B. Riley began coverage on Tactile Systems Technology in a research note on Thursday, September 26th. They issued a “buy” rating and a $23.00 price target on the stock.

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.