Kopp Family Office LLC trimmed its stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD – Free Report) by 28.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,826 shares of the company’s stock after selling 23,327 shares during the period. Tactile Systems Technology accounts for about 0.7% of Kopp Family Office LLC’s investment portfolio, making the stock its 15th biggest holding. Kopp Family Office LLC owned about 0.26% of Tactile Systems Technology worth $1,334,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently modified their holdings of TCMD. Pinnacle Associates Ltd. lifted its holdings in Tactile Systems Technology by 0.3% in the third quarter. Pinnacle Associates Ltd. now owns 327,967 shares of the company’s stock worth $7,310,000 after buying an additional 850 shares during the period. State of Alaska Department of Revenue boosted its position in Tactile Systems Technology by 18.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,113 shares of the company’s stock valued at $158,000 after acquiring an additional 1,132 shares in the last quarter. First Light Asset Management LLC bought a new stake in Tactile Systems Technology during the 2nd quarter valued at approximately $13,775,000. Engineers Gate Manager LP purchased a new position in shares of Tactile Systems Technology during the 2nd quarter worth approximately $400,000. Finally, IFP Advisors Inc grew its holdings in shares of Tactile Systems Technology by 24.3% during the 2nd quarter. IFP Advisors Inc now owns 3,606 shares of the company’s stock worth $107,000 after acquiring an additional 704 shares during the period. Institutional investors own 83.43% of the company’s stock.
Tactile Systems Technology Price Performance
Shares of Tactile Systems Technology stock opened at $23.28 on Thursday. The company has a 50-day moving average of $22.74 and a 200 day moving average of $25.14. The firm has a market cap of $527.29 million, a price-to-earnings ratio of 21.78 and a beta of 0.82. Tactile Systems Technology, Inc. has a 1 year low of $14.63 and a 1 year high of $37.77.
Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.20. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. The company had revenue of $85.70 million during the quarter, compared to analysts’ expectations of $85.52 million. On average, equities analysts anticipate that Tactile Systems Technology, Inc. will post 1.10 EPS for the current year.
Insider Buying and Selling at Tactile Systems Technology
In other Tactile Systems Technology news, CEO Sheri Dodd sold 10,978 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the completion of the transaction, the chief executive officer owned 232,907 shares of the company’s stock, valued at approximately $6,856,782.08. This trade represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company’s stock.
Analyst Ratings Changes
TCMD has been the subject of several research reports. Wall Street Zen lowered Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 17th. Weiss Ratings upgraded Tactile Systems Technology from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 13th. Finally, BTIG Research dropped their price target on Tactile Systems Technology from $39.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.60.
Get Our Latest Stock Report on TCMD
Tactile Systems Technology Company Profile
Tactile Systems Technology, Inc, doing business as Tactile Medical, is a medical technology company focused on developing, manufacturing and distributing devices for people with chronic swelling and respiratory conditions. Its products are intended for use in the home and are commonly prescribed by health care professionals as part of ongoing disease-management programs.
The company’s core products include the Flexitouch pneumatic compression system, designed to support the treatment of lymphedema and related conditions, and the Entre system, which provides pneumatic compression therapy for the upper and lower extremities.
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