Columbus Circle Investors decreased its stake in shares of Tactile Systems Technology Inc (NASDAQ:TCMD) by 49.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 19,224 shares of the company’s stock after selling 18,446 shares during the period. Columbus Circle Investors owned 0.10% of Tactile Systems Technology worth $1,013,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. MetLife Investment Advisors LLC boosted its stake in shares of Tactile Systems Technology by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 12,782 shares of the company’s stock valued at $908,000 after purchasing an additional 4,544 shares during the last quarter. Weiss Multi Strategy Advisers LLC raised its holdings in Tactile Systems Technology by 9.0% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 11,000 shares of the company’s stock worth $501,000 after buying an additional 904 shares during the last quarter. Vanguard Group Inc raised its holdings in Tactile Systems Technology by 6.8% during the third quarter. Vanguard Group Inc now owns 1,010,783 shares of the company’s stock worth $71,816,000 after buying an additional 63,944 shares during the last quarter. Legal & General Group Plc raised its holdings in Tactile Systems Technology by 20.5% during the third quarter. Legal & General Group Plc now owns 35,879 shares of the company’s stock worth $2,533,000 after buying an additional 6,113 shares during the last quarter. Finally, WINTON GROUP Ltd raised its holdings in Tactile Systems Technology by 63.4% during the fourth quarter. WINTON GROUP Ltd now owns 7,953 shares of the company’s stock worth $362,000 after buying an additional 3,087 shares during the last quarter. 96.89% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on TCMD. Guggenheim upped their price objective on shares of Tactile Systems Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. Piper Jaffray Companies upped their price objective on shares of Tactile Systems Technology to $84.00 and gave the stock an “overweight” rating in a report on Monday. BidaskClub upgraded shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Investment Research downgraded shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Northland Securities reiterated a “hold” rating and issued a $50.00 target price on shares of Tactile Systems Technology in a report on Friday, March 22nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $79.20.
In related news, SVP Bryan Rishe sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $69.44, for a total value of $208,320.00. Following the sale, the senior vice president now directly owns 54,143 shares of the company’s stock, valued at $3,759,689.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert J. Folkes sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $52.45, for a total transaction of $131,125.00. Following the completion of the sale, the chief operating officer now directly owns 111,654 shares in the company, valued at $5,856,252.30. The disclosure for this sale can be found here. Insiders sold 109,346 shares of company stock valued at $7,512,233 over the last 90 days. 6.50% of the stock is owned by company insiders.
NASDAQ:TCMD traded up $2.16 on Wednesday, reaching $57.93. 445,755 shares of the company’s stock were exchanged, compared to its average volume of 300,718. The firm has a market capitalization of $1.05 billion, a PE ratio of 170.38, a P/E/G ratio of 8.09 and a beta of 2.08. Tactile Systems Technology Inc has a 52 week low of $37.40 and a 52 week high of $76.63.
Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Monday, May 6th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.20. Tactile Systems Technology had a net margin of 4.61% and a return on equity of 6.77%. The company had revenue of $37.60 million during the quarter, compared to analyst estimates of $33.30 million. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. Sell-side analysts expect that Tactile Systems Technology Inc will post 0.33 EPS for the current year.
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Tactile Systems Technology 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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