Tactile Systems Technology, Inc. (NASDAQ: TCMD), a leading medical technology company in the United States, recently saw an increase in stake by Numerai GP LLC. According to their recent filing with the Securities and Exchange Commission (SEC), Numerai GP LLC raised its stake in Tactile Systems Technology by 48.3% during the first quarter.
At the end of the most recent quarter, Numerai GP LLC owned approximately 81,156 shares of Tactile Systems Technology worth $1,333,000 after purchasing an additional 26,444 shares during the period. This represents ownership of approximately 0.35% of the company’s stock.
Tactile Systems Technology is recognized for its commitment to developing and providing medical devices for underserved chronic diseases in the United States. The company focuses on delivering innovative solutions to improve treatments and outcomes for patients dealing with conditions like lymphedema and venous disorders.
One of their notable offerings is the Flexitouch Plus system, which utilizes pneumatic compression to effectively treat lymphedema. By investing heavily in research and development, Tactile Systems Technology has been able to create devices that enhance quality of life for individuals suffering from chronic diseases.
The Entre System is another product offered by Tactile Systems Technology. It is a portable pneumatic compression device designed for at-home treatment of venous disorders such as lymphedema and chronic venous insufficiency, including venous leg ulcers.
In addition to specialized medical devices, Tactile Systems Technology provides patients with Kylee – a mobile application that serves as a comprehensive resource for learning about lymphedema and tracking symptoms, treatments, and progress. This application allows patients to share their information with healthcare professionals for personalized care.
Tactile Systems Technology also caters to individuals who require chest physiotherapy through its AffloVest. This portable high-frequency chest wall oscillation vest is designed to effectively treat retained pulmonary secretions associated with conditions like bronchiectasis, cystic fibrosis, and various neuromuscular disorders.
The increase in stake by Numerai GP LLC indicates growing confidence in Tactile Systems Technology’s potential for future success. By investing in a company that shows dedication to improving the lives of underserved populations through innovative medical devices, Numerai GP LLC aligns its interests with an industry leader.
Tactile Systems Technology’s commitment to providing effective and accessible solutions for chronic diseases demonstrates its significant presence in the medical technology sector. As the company continues to develop groundbreaking products and expand its reach, investors like Numerai GP LLC see great value in supporting their mission.
It is always encouraging to see companies making strides in addressing unmet needs within healthcare, particularly when it comes to chronic conditions. Tactile Systems Technology’s dedication to enhancing treatment options reflects the evolving nature of the medical field and showcases how technology can positively impact patients’ lives.
As of September 11, 2023, Tactile Systems Technology remains at the forefront of medical technology innovation, offering hope for improved outcomes and better quality of life for individuals facing chronic diseases.
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Updated on: 11/09/2023
Tactile Systems Technology: Increasing Institutional Interest and Positive Financial Performance
In recent times, there has been a notable increase in interest from hedge funds and institutional investors towards Tactile Systems Technology (TCMD). Several firms have either added to or reduced their stakes in the company, reflecting a shifting landscape within the investment community.
One such addition came from Altshuler Shaham Ltd, who acquired a new stake in Tactile Systems Technology during the first quarter. This move was valued at approximately $32,000 and demonstrates a potential confidence placed in the company by Altshuler Shaham Ltd.
PNC Financial Services Group Inc. also increased its position in TCMD during the first quarter, with growth of 219.5%. The firm now owns 2,016 shares of Tactile Systems Technology’s stock, worth around $40,000. This expansion signifies PNC Financial Services Group Inc.’s belief in the value that Tactile Systems Technology brings to the table.
Teachers Retirement System of The State of Kentucky joined these ranks by acquiring a new stake in TCMD during the third quarter. Their investment was valued at approximately $43,000 and is yet another indication of growing interest within Tactile Systems Technology.
UBS Group AG witnessed growth of 25.1% in their position with Tactile Systems Technology during the same period. They now hold 6,349 shares of TCMD’s stock, estimated to be valued at around $50,000. This steady expansion showcases UBS Group AG’s increasing confidence in Tactile Systems Technology.
Finally, Point72 Hong Kong Ltd entered as a new investor in TCMD during the second quarter with an investment worth approximately $75,000. Each added stake contributes to the overall ownership concentration held by institutional investors and hedge funds, which currently stands at 85.97% of TCMD’s stock.
Equity research analysts have also shared their perspectives on Tactile Systems Technology. Oppenheimer raised their target price on TCMD from $24.00 to $30.00, along with an “outperform” rating in a research report issued on August 8th. StockNews.com provided a similar outlook, downgrading their rating from “strong-buy” to “buy.” Another research note, this time by TheStreet, upgraded Tactile Systems Technology from a “d+” rating to a “c-” rating.
Analyzing the financial performance of Tactile Systems Technology, it is clear that the company has seen some positive growth. On August 7th, TCMD released their earnings results for the quarter and exceeded analysts’ consensus estimates by reporting earnings per share of $0.05. This outperformed expectations of ($0.07) by $0.12.
Tactile Systems Technology demonstrated a net margin of 0.13% and a return on equity of 5.89%, indicating promising financial resilience amidst challenging market conditions. Additionally, the company’s quarterly revenue reached $68.34 million, surpassing analyst estimates of $65.48 million.
Looking ahead, analysts predict that Tactile Systems Technology will achieve a EPS (earnings per share) figure of 0.15 for the current fiscal year.
As we observe these recent developments within Tactile Systems Technology and its evolving investment landscape, it remains uncertain how these changes will impact the future of the company and its stock performance. However, with increasing interest from hedge funds and institutional investors combined with positive financial results, there may be ample reason for investors to maintain intrigue in TCMD going forward.
TCMD opened trading on Friday at $18.28 with a market capitalization of $428.85 million and a beta of 1.20. The firm’s debt-to-equity ratio stands at 0.28 while its current ratio is 3.08 and quick ratio is 2.66 – all indicators of a stable financial position. Furthermore, Tactile Systems Technology’s 50-day and two-hundred-day simple moving averages stand at $21.03 and $19.81, respectively, showcasing the company’s steady trajectory.
As September 11, 2023 rolls on, investors keenly watch Tactile Systems Technology to see where it may take them. The perplexing nature of the market combined with the bustling waves of institutional investment leaves many questions unanswered. The path ahead certainly remains intriguing for TCMD and those who choose to invest in it.
