Alliancebernstein L.P. bought a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 9,300 shares of the company’s stock, valued at approximately $266,000. Alliancebernstein L.P. owned 0.05% of Tactile Systems Technology as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Tactile Systems Technology by 39.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock valued at $127,000 after purchasing an additional 1,252 shares during the period. Bank of America Corp DE boosted its stake in Tactile Systems Technology by 1,118.5% during the 1st quarter. Bank of America Corp DE now owns 6,982 shares of the company’s stock valued at $133,000 after purchasing an additional 6,409 shares during the period. Bank of Montreal Can bought a new stake in Tactile Systems Technology during the 2nd quarter valued at approximately $146,000. Bank of New York Mellon Corp boosted its stake in Tactile Systems Technology by 33.7% during the 1st quarter. Bank of New York Mellon Corp now owns 13,805 shares of the company’s stock valued at $262,000 after purchasing an additional 3,480 shares during the period. Finally, Rhumbline Advisers bought a new stake in Tactile Systems Technology during the 2nd quarter valued at approximately $267,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Several analysts recently weighed in on TCMD shares. Northland Securities restated a “hold” rating and set a $31.50 target price on shares of Tactile Systems Technology in a research note on Monday, October 16th. ValuEngine raised Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research cut Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Canaccord Genuity reaffirmed a “buy” rating and issued a $37.00 price target (up previously from $28.00) on shares of Tactile Systems Technology in a report on Tuesday, August 8th. Finally, BTIG Research raised Tactile Systems Technology from a “neutral” rating to a “buy” rating in a report on Thursday. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Tactile Systems Technology has a consensus rating of “Buy” and a consensus price target of $34.25.

In other Tactile Systems Technology news, VP Bryan Rishe sold 1,500 shares of the company’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 completion of the transaction, the vice president now owns 105,307 shares of the company’s stock, valued at approximately $2,865,403.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Robert J. Folkes sold 4,455 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $28.32, for a total value of $126,165.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,078,547 shares of company stock valued at $33,504,374. Insiders own 49.90% of the company’s stock.

Tactile Systems Technology, Inc. (TCMD) opened at $25.23 on Friday. The company has a market capitalization of $444.79 and a P/E ratio of 163.00. Tactile Systems Technology, Inc. has a twelve month low of $14.37 and a twelve month high of $37.88.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. The firm 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 company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 EPS. equities research analysts predict that Tactile Systems Technology, Inc. will post 0.25 earnings per share for the current year.

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About Tactile Systems Technology

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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Institutional Ownership by Quarter for Tactile Systems Technology (NASDAQ:TCMD)

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