Allianz Asset Management GmbH grew its position in Tactile Systems Technology Inc (NASDAQ:TCMD) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 175,826 shares of the company’s stock after acquiring an additional 7,452 shares during the quarter. Allianz Asset Management GmbH owned 0.99% of Tactile Systems Technology worth $5,442,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Northern Trust Corp boosted its position in shares of Tactile Systems Technology by 125.4% in the 2nd quarter. Northern Trust Corp now owns 95,227 shares of the company’s stock worth $2,721,000 after purchasing an additional 52,985 shares during the last quarter. Menta Capital LLC boosted its position in shares of Tactile Systems Technology by 66.9% in the 2nd quarter. Menta Capital LLC now owns 28,186 shares of the company’s stock worth $806,000 after purchasing an additional 11,300 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Tactile Systems Technology by 17.2% during the first quarter. Geode Capital Management LLC now owns 70,704 shares of the company’s stock worth $1,339,000 after acquiring an additional 10,377 shares in the last quarter. State Street Corp lifted its holdings in Tactile Systems Technology by 115.1% during the second quarter. State Street Corp now owns 121,255 shares of the company’s stock worth $3,466,000 after acquiring an additional 64,883 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in Tactile Systems Technology by 237.1% during the second quarter. TIAA CREF Investment Management LLC now owns 24,897 shares of the company’s stock worth $712,000 after acquiring an additional 17,512 shares in the last quarter. 71.68% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on the company. BTIG Research downgraded Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Monday, September 18th. Guggenheim began coverage on Tactile Systems Technology in a research report on Thursday, October 12th. They issued a “buy” rating and a $47.00 target price on the stock. Zacks Investment Research raised Tactile Systems Technology from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Friday, November 10th. Northland Securities began coverage on Tactile Systems Technology in a research report on Tuesday, October 17th. They set a “market perform” rating on the stock. Finally, Sidoti initiated coverage on Tactile Systems Technology in a research report on Friday, December 8th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned 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 target price of $34.25.
Shares of Tactile Systems Technology Inc (NASDAQ:TCMD) traded up $0.04 during mid-day trading on Thursday, hitting $28.26. The company had a trading volume of 197,950 shares, compared to its average volume of 184,169. 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 capitalization of $500.25 and a PE ratio of 88.31.
Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. The company had revenue of $28.28 million during the quarter, compared to the consensus estimate of $27.66 million. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. research analysts expect that Tactile Systems Technology Inc will post 0.34 EPS for the current year.
In related news, CEO Gerald R. Mattys sold 40,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $27.00, for a total value of $1,080,000.00. Following the completion of the sale, the chief executive officer now directly owns 334,013 shares in the company, valued at $9,018,351. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Bryan Rishe sold 1,500 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $31.87, for a total transaction of $47,805.00. Following the sale, the vice president now directly owns 106,807 shares in the company, valued at approximately $3,403,939.09. The disclosure for this sale can be found here. Insiders sold 182,545 shares of company stock valued at $5,140,101 over the last 90 days. 49.90% of the stock is currently owned by company insiders.
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Tactile Systems Technology Profile
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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