Carlson Capital Management increased its holdings in shares of Tactile Systems Technology Inc (NASDAQ:TCMD) by 406.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,907 shares of the company’s stock after buying an additional 90,603 shares during the quarter. Tactile Systems Technology accounts for about 0.9% of Carlson Capital Management’s holdings, making the stock its 15th biggest holding. Carlson Capital Management owned approximately 0.64% of Tactile Systems Technology worth $3,272,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Tactile Systems Technology by 39.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock worth $127,000 after buying an additional 1,252 shares during the last quarter. Nationwide Fund Advisors raised its position in Tactile Systems Technology by 201.8% in the second quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock valued at $148,000 after purchasing an additional 3,457 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Tactile Systems Technology by 10,882.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock valued at $213,000 after purchasing an additional 7,400 shares during the last quarter. White Pine Capital LLC bought a new position in Tactile Systems Technology in the second quarter valued at about $254,000. Finally, Alliancebernstein L.P. bought a new position in Tactile Systems Technology in the second quarter valued at about $266,000. Institutional investors and hedge funds own 73.27% of the company’s stock.
In other Tactile Systems Technology news, Director Cheryl Pegus bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was acquired at an average price of $27.86 per share, with a total value of $27,860.00. Following the completion of the purchase, the director now directly owns 2,184 shares of the company’s stock, valued at approximately $60,846.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Bryan Rishe sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $27.21, for a total value of $40,815.00. Following the sale, the vice president now directly owns 105,307 shares of the company’s stock, valued at approximately $2,865,403.47. The disclosure for this sale can be found here. In the last three months, insiders sold 312,541 shares of company stock valued at $9,187,857. Insiders own 49.90% of the company’s stock.
Several equities analysts have commented on the company. BidaskClub upgraded Tactile Systems Technology from a “sell” rating to a “hold” rating in a research report on Saturday, January 20th. Northland Securities assumed coverage on Tactile Systems Technology in a research report on Tuesday, October 17th. They issued a “market perform” rating for the company. Zacks Investment Research downgraded Tactile Systems Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Canaccord Genuity reiterated a “buy” rating and issued a $37.00 target price on shares of Tactile Systems Technology in a research report on Wednesday, January 3rd. Finally, BTIG Research upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating in a research report on Thursday, November 9th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $34.25.
Shares of Tactile Systems Technology Inc (TCMD) opened at $32.30 on Wednesday. The firm has a market capitalization of $571.77 and a PE ratio of 100.94. Tactile Systems Technology Inc has a one year low of $14.71 and a one year high of $37.88.
Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. The company had revenue of $28.28 million during the quarter, compared to analysts’ expectations of $27.66 million. Tactile Systems Technology had a return on equity of 4.75% and a net margin of 5.84%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. equities research analysts anticipate that Tactile Systems Technology Inc will post 0.34 earnings per share for the current fiscal year.
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Tactile Systems Technology Company 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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