EAM Investors LLC Raises Holdings in Tactile Systems Technology, Inc. (TCMD)
EAM Investors LLC boosted its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 153.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 178,275 shares of the company’s stock after purchasing an additional 107,826 shares during the quarter. Tactile Systems Technology makes up 0.8% of EAM Investors LLC’s holdings, making the stock its 5th largest position. EAM Investors LLC owned about 1.05% of Tactile Systems Technology worth $5,095,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of TCMD. Wells Fargo & Company MN boosted its position in Tactile Systems Technology by 1,896.9% during the first quarter. Wells Fargo & Company MN now owns 59,389 shares of the company’s stock worth $1,125,000 after purchasing an additional 56,415 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Tactile Systems Technology by 33.7% during the first quarter. Bank of New York Mellon Corp now owns 13,805 shares of the company’s stock worth $262,000 after purchasing an additional 3,480 shares in the last quarter. Trexquant Investment LP purchased a new position in Tactile Systems Technology during the first quarter worth approximately $224,000. Spark Investment Management LLC boosted its position in Tactile Systems Technology by 29.7% during the first quarter. Spark Investment Management LLC now owns 94,000 shares of the company’s stock worth $1,781,000 after purchasing an additional 21,500 shares in the last quarter. Finally, Royce & Associates LP purchased a new position in Tactile Systems Technology during the first quarter worth approximately $2,141,000. Institutional investors own 45.65% of the company’s stock.
Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) traded down 9.18% during trading on Friday, hitting $30.86. The company’s stock had a trading volume of 705,681 shares. The stock has a market cap of $542.70 million, a PE ratio of 116.89 and a beta of 0.35. Tactile Systems Technology, Inc. has a one year low of $14.37 and a one year high of $37.88. The company has a 50-day moving average price of $32.90 and a 200-day moving average price of $25.64.
Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.03. Tactile Systems Technology had a return on equity of 3.05% and a net margin of 4.97%. The company had revenue of $26.30 million for the quarter, compared to analyst estimates of $23.88 million. During the same quarter in the previous year, the company earned $0.04 EPS. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. Equities analysts predict that Tactile Systems Technology, Inc. will post $0.28 EPS for the current fiscal year.
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In other news, VP Bryan Rishe sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $28.44, for a total transaction of $42,660.00. Following the sale, the vice president now owns 112,307 shares of the company’s stock, valued at approximately $3,194,011.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Galen Partners V. Lp sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $28.85, for a total value of $5,770,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,278,547 shares of company stock worth $39,268,171 in the last ninety days. 49.90% of the stock is owned by corporate insiders.
A number of brokerages have issued reports on TCMD. BTIG Research downgraded Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Monday, September 18th. Zacks Investment Research upgraded Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Thursday, August 10th. ValuEngine upgraded Tactile Systems Technology from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Piper Jaffray Companies increased their price target on Tactile Systems Technology from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $37.00 price target (up previously from $28.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $34.00.
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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