Rice Hall James & Associates LLC raised its holdings in shares of Tactile Systems Technology Inc (NASDAQ:TCMD) by 62.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,778 shares of the company’s stock after buying an additional 12,611 shares during the quarter. Rice Hall James & Associates LLC owned about 0.17% of Tactile Systems Technology worth $1,866,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC grew its holdings in shares of Tactile Systems Technology by 5.9% during the second quarter. Janus Henderson Group PLC now owns 889,025 shares of the company’s stock worth $50,603,000 after buying an additional 49,721 shares in the last quarter. Peregrine Capital Management LLC grew its holdings in shares of Tactile Systems Technology by 9.7% during the second quarter. Peregrine Capital Management LLC now owns 464,848 shares of the company’s stock worth $26,459,000 after buying an additional 41,036 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Tactile Systems Technology by 6,820.2% in the first quarter. Marshall Wace LLP now owns 330,855 shares of the company’s stock valued at $17,443,000 after purchasing an additional 326,074 shares during the period. Cortina Asset Management LLC lifted its position in Tactile Systems Technology by 16.5% in the second quarter. Cortina Asset Management LLC now owns 305,650 shares of the company’s stock valued at $17,398,000 after buying an additional 43,399 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in Tactile Systems Technology by 1.0% in the first quarter. Artisan Partners Limited Partnership now owns 261,722 shares of the company’s stock valued at $13,798,000 after buying an additional 2,615 shares during the last quarter. 98.90% of the stock is owned by institutional investors and hedge funds.
TCMD has been the topic of a number of recent analyst reports. BTIG Research raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Wednesday, August 7th. Guggenheim upped their target price on shares of Tactile Systems Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Zacks Investment Research raised shares of Tactile Systems Technology from a “hold” rating to a “strong-buy” rating and set a $57.00 target price on the stock in a research report on Thursday, August 8th. Piper Jaffray Companies increased their price target on shares of Tactile Systems Technology to $84.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Finally, ValuEngine raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $73.29.
In related news, Director Kevin H. Roche sold 4,907 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $50.00, for a total value of $245,350.00. Following the sale, the director now owns 40,311 shares of the company’s stock, valued at $2,015,550. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Bryan Rishe sold 4,812 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $53.27, for a total transaction of $256,335.24. Following the completion of the sale, the senior vice president now directly owns 50,674 shares in the company, valued at approximately $2,699,403.98. The disclosure for this sale can be found here. Insiders have sold 65,106 shares of company stock worth $3,436,541 in the last three months. Corporate insiders own 6.50% of the company’s stock.
Shares of TCMD traded up $1.52 during mid-day trading on Friday, hitting $50.62. 701 shares of the company’s stock were exchanged, compared to its average volume of 213,441. The company has a market cap of $955.59 million, a price-to-earnings ratio of 148.65, a P/E/G ratio of 4.27 and a beta of 1.98. Tactile Systems Technology Inc has a fifty-two week low of $37.40 and a fifty-two week high of $76.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.34 and a current ratio of 5.04. The stock’s 50-day moving average is $54.25 and its 200-day moving average is $57.09.
Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.09. The business had revenue of $45.20 million for the quarter, compared to analysts’ expectations of $42.60 million. Tactile Systems Technology had a net margin of 5.05% and a return on equity of 9.19%. The business’s quarterly revenue was up 32.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 earnings per share. As a group, equities research analysts anticipate that Tactile Systems Technology Inc will post 0.6 EPS for the current year.
Tactile Systems Technology Company Profile
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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