In the fast-evolving world of medicine, Tactile Systems Technology, Inc. has emerged as a pioneer in developing innovative medical devices for the treatment of chronic diseases at home. The firm’s relentless commitment to advancing the standard of care in treating chronic diseases has not gone unnoticed, as evidenced by various investment firms who are engrossed in buying shares from this company.
One such investment firm is the Principal Financial Group Inc., which recently announced its acquisition of a new position in Tactile Systems Technology during the 4th quarter. According to its most recent Form 13F filing with the Securities and Exchange Commission (SEC), the company bought 43,181 shares of the medical technology firm’s stock, worth approximately $496,000. Principal Financial Group now owns about 0.21% of Tactile Systems Technology as of its most recent SEC filing.
With this significant investment by an established player like Principal Financial Group, it becomes clear that Tactile Systems Technology holds immense potential and promise for investors seeking to invest in companies driving innovation in healthcare technology. Moreover, things seem to be on an upward trend considering that Tactile System Technology just released its quarterly earnings data on May 8th.
Despite fears sparked by the COVID-19 pandemic, Tactile System Technology reported strong earnings results for Q2 earning ($0.03) EPS during the period beating analysts’ consensus estimate by $0.24 Conversely, they generated revenue of $58.85 million compared to estimated earnings of $54.32 million which surprisingly confirmed their belief that chronic care patients require better solutions that bridge them back to normal life even from homes.
As mentioned earlier, medical technology is evolving rapidly due to advancements in diagnostic tools and steep adoption curves; however,Tactile System Technologies unique focused expertise consistently returns positive and proven results contributing immensely towards home-based patient care — a key component towards both Pfizer’s investments into telemedicine platform provider Cedar Health Research and Mayo Clinic’s investment in Onegevity Health, the future of healthcare despite recent events.
In conclusion, Tactile Systems Technology offers high growth potential for investors seeking to back innovative medical technology players. With Principal Financial Group Inc. increasing its position in the company and a positive outlook on the back of good earnings results from Q2; it’s no surprise that they are poised to deliver quality care solutions that impact positively on patient outcomes whilst allowing telemedicine providers access to innovative technology.
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Tactile Systems Technology: A Rising Star in the Medical Technology Industry
Tactile Systems Technology, Inc. is a medical technology company that has recently gained the attention of institutional investors and hedge funds. PNC Financial Services Group Inc. increased its stake in Tactile Systems Technology by 219.5% in the first quarter, while Teachers Retirement System of The State of Kentucky bought a new position during the third quarter, valued at approximately $43,000. UBS Group AG and Point72 Hong Kong Ltd also invested in Tactile Systems Technology during this period. New York State Common Retirement Fund boosted its holdings significantly by acquiring an additional 8,100 shares during the third quarter.
The stock opened at $23.21 on Monday with a market cap of $539.40 million, a PE ratio of -116.04 and a beta of 1.19. However, it has had an impressive year with its one-year low being $6.28 and one-year high reaching up to $23.23.
Tactile Systems Technology develops and provides innovative medical devices for chronic diseases that can be used within the home environment to improve patient outcomes while helping control healthcare expenses.
The equity research analysts have rated Tactile Systems Technology positively, with BTIG Research upgrading their target price from $27.00 to $28.00 and giving it a “buy” rating, citing its innovative medical tech devices for home treatment regimens on Monday, April 17th.
In other news regarding the company’s director William W Burke covertly sold 4,400 shares in May 2017 at an average price of $21.86 which indicated that despite positive reviews from respected sources; even insiders may have concerns about future performance.
Overall Tactile Systems Technologies appears to be gaining traction across markets as well as among consumers due to their reputation for quality products that help patients manage treatments in their homes effectively while controlling healthcare costs thus making the company’s value proposition quite compelling both to retail and institutional investors alike.