GSA Capital Partners LLP raised its stake in Tactile Systems Technology Inc (NASDAQ:TCMD) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,584 shares of the company’s stock after purchasing an additional 732 shares during the period. GSA Capital Partners LLP owned 0.12% of Tactile Systems Technology worth $1,285,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of TCMD. Marshall Wace North America L.P. bought a new stake in Tactile Systems Technology in the first quarter valued at $25,000. TCI Wealth Advisors Inc. increased its stake in Tactile Systems Technology by 2,500.0% in the second quarter. TCI Wealth Advisors Inc. now owns 520 shares of the company’s stock valued at $30,000 after purchasing an additional 500 shares in the last quarter. BerganKDV Wealth Management LLC bought a new stake in Tactile Systems Technology in the first quarter valued at $158,000. BNP Paribas Arbitrage SA increased its stake in Tactile Systems Technology by 73,060.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,658 shares of the company’s stock valued at $193,000 after purchasing an additional 3,653 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. bought a new stake in Tactile Systems Technology in the first quarter valued at $225,000. 99.77% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Bryan Rishe sold 4,813 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $48.67, for a total transaction of $234,248.71. Following the completion of the sale, the senior vice president now directly owns 50,675 shares of the company’s stock, valued at $2,466,352.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kevin H. Roche sold 4,907 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $50.00, for a total transaction of $245,350.00. Following the sale, the director now directly owns 40,311 shares of the company’s stock, valued at $2,015,550. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,499 shares of company stock valued at $2,906,191. 6.50% of the stock is currently owned by insiders.
Several equities research analysts have weighed in on TCMD shares. BidaskClub downgraded shares of Tactile Systems Technology from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Piper Jaffray Companies lifted their price target on shares of Tactile Systems Technology to $84.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Guggenheim boosted their target price on shares of Tactile Systems Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Dougherty & Co initiated coverage on shares of Tactile Systems Technology in a research report on Thursday, June 13th. They set a “buy” rating and a $80.00 target price for the company. Finally, Zacks Investment Research downgraded shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $73.29.
Shares of NASDAQ:TCMD traded down $1.97 during midday trading on Friday, hitting $48.40. 103,443 shares of the company’s stock were exchanged, compared to its average volume of 220,224. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.04 and a quick ratio of 4.34. The stock has a 50 day moving average price of $53.37 and a 200-day moving average price of $56.64. The company has a market cap of $948.25 million, a PE ratio of 117.14, a price-to-earnings-growth ratio of 4.23 and a beta of 1.98. Tactile Systems Technology Inc has a 12 month low of $37.40 and a 12 month high of $76.63.
Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, August 5th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.05 by $0.09. The company had revenue of $45.20 million during the quarter, compared to the consensus estimate of $42.60 million. Tactile Systems Technology had a net margin of 5.05% and a return on equity of 9.19%. The firm’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. On average, analysts anticipate that Tactile Systems Technology Inc will post 0.6 EPS for the current fiscal year.
About Tactile Systems Technology
Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of chronic diseases in the United States. The company offers Flexitouch system, an at-home solution for lymphedema patients; and ACTitouch system, a home-based solution for chronic venous insufficiency patients.
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