Ameriprise Financial Inc. lessened its stake in Tactile Systems Technology Inc (NASDAQ:TCMD) by 27.9% in the 3rd quarter, Holdings Channel reports. The firm owned 36,031 shares of the company’s stock after selling 13,942 shares during the period. Ameriprise Financial Inc.’s holdings in Tactile Systems Technology were worth $1,116,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Peregrine Capital Management LLC bought a new position in Tactile Systems Technology in the 3rd quarter worth approximately $16,984,000. Russell Investments Group Ltd. raised its position in Tactile Systems Technology by 12.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 522,050 shares of the company’s stock worth $16,157,000 after purchasing an additional 56,565 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in Tactile Systems Technology by 6.8% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 466,903 shares of the company’s stock worth $14,451,000 after purchasing an additional 29,912 shares during the last quarter. Vanguard Group Inc. raised its position in Tactile Systems Technology by 18.8% in the 2nd quarter. Vanguard Group Inc. now owns 376,161 shares of the company’s stock worth $10,750,000 after purchasing an additional 59,595 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in Tactile Systems Technology by 108.3% in the 2nd quarter. Lord Abbett & CO. LLC now owns 371,980 shares of the company’s stock worth $10,631,000 after purchasing an additional 193,429 shares during the last quarter. Hedge funds and other institutional investors own 71.68% of the company’s stock.
Shares of Tactile Systems Technology Inc (NASDAQ:TCMD) opened at $28.22 on Thursday. Tactile Systems Technology Inc has a fifty-two week low of $14.37 and a fifty-two week high of $37.88. The company has a market cap of $499.54 and a price-to-earnings ratio of 88.19.
Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The firm had revenue of $28.28 million during the quarter, compared to analyst estimates of $27.66 million. During the same quarter in the previous year, the business earned $0.01 EPS. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. equities research analysts predict that Tactile Systems Technology Inc will post 0.34 earnings per share for the current year.
In other Tactile Systems Technology news, Director Jordan Davis sold 40,000 shares of Tactile Systems Technology stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $29.52, for a total transaction of $1,180,800.00. Following the completion of the sale, the director now owns 5,006 shares of the company’s stock, valued at approximately $147,777.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bryan Rishe sold 1,500 shares of Tactile Systems Technology stock in a transaction on Friday, January 5th. The stock was sold at an average price of $28.67, for a total transaction of $43,005.00. Following the sale, the senior vice president now directly owns 94,645 shares of the company’s stock, valued at approximately $2,713,472.15. The disclosure for this sale can be found here. Insiders have sold a total of 182,545 shares of company stock valued at $5,140,101 in the last ninety days. Company insiders own 49.90% of the company’s stock.
Several research firms recently weighed in on TCMD. BTIG Research upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating in a research report on Thursday, November 9th. They noted that the move was a valuation call. BidaskClub cut shares of Tactile Systems Technology from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. Canaccord Genuity restated a “buy” rating and issued a $37.00 price objective on shares of Tactile Systems Technology in a research report on Wednesday, January 3rd. Northland Securities restated a “hold” rating and issued a $31.50 price objective on shares of Tactile Systems Technology in a research report on Monday, October 16th. Finally, Zacks Investment Research cut shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $34.25.
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About Tactile Systems Technology
Tactile Systems Technology, Inc is a medical technology company that develops and provides medical devices for the treatment of chronic diseases at home. The Company is a manufacturer and distributor of the Flexitouch and Entre Systems, medical devices that help control symptoms of lymphedema, a chronic and progressive medical condition that is often an unintended consequence of cancer treatment, and the ACTitouch System, a medical device used to treat venous leg ulcers and chronic venous insufficiency.
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