Royal Bank of Canada lifted its stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 11,365.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,326 shares of the company’s stock after purchasing an additional 38,983 shares during the quarter. Royal Bank of Canada owned about 0.22% of Tactile Systems Technology worth $1,124,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TCMD. JPMorgan Chase & Co. raised its stake in shares of Tactile Systems Technology by 39.3% during the second 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 in the last quarter. Bank of America Corp DE raised its stake in shares of Tactile Systems Technology by 1,118.5% during the first 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 in the last quarter. Bank of Montreal Can bought a new stake in shares of Tactile Systems Technology during the second quarter valued at about $146,000. Nationwide Fund Advisors raised its stake in shares of Tactile Systems Technology by 201.8% during 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 in the last quarter. Finally, White Pine Capital LLC bought a new stake in shares of Tactile Systems Technology during the second quarter valued at about $254,000. Institutional investors and hedge funds own 45.69% of the company’s stock.

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) opened at $27.32 on Friday. The stock has a market capitalization of $476.17, a P/E ratio of 300.11, a PEG ratio of 5.55 and a beta of -0.57.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, August 7th. The company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The company had revenue of $26.30 million during the quarter, compared to the consensus estimate of $23.88 million. Tactile Systems Technology had a net margin of 4.97% and a return on equity of 3.05%. Tactile Systems Technology’s revenue was up 33.5% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. analysts expect that Tactile Systems Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

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A number of equities research analysts recently weighed in on the stock. BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Monday, September 18th. Zacks Investment Research upgraded shares of Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Thursday, August 10th. Northland Securities restated a “hold” rating and set a $31.50 price objective on shares of Tactile Systems Technology in a research note on Monday, October 16th. Guggenheim assumed coverage on shares of Tactile Systems Technology in a research note on Thursday, October 12th. They set a “buy” rating and a $47.00 price objective on the stock. Finally, ValuEngine upgraded shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $35.75.

In other Tactile Systems Technology news, CEO Gerald R. Mattys sold 30,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $31.47, for a total value of $944,100.00. Following the completion of the transaction, the chief executive officer now owns 327,885 shares of the company’s stock, valued at $10,318,540.95. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Robert J. Folkes sold 1,500 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $32.54, for a total transaction of $48,810.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,078,547 shares of company stock valued at $33,512,369. 49.90% of the stock is owned by insiders.

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.

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

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