Columbus Circle Investors lifted its stake in Tactile Systems Technology Inc (NASDAQ:TCMD) by 41.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 48,094 shares of the company’s stock after acquiring an additional 14,101 shares during the quarter. Columbus Circle Investors owned 0.26% of Tactile Systems Technology worth $3,417,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Tactile Systems Technology by 31.8% in the 2nd quarter. BlackRock Inc. now owns 2,351,300 shares of the company’s stock worth $122,266,000 after acquiring an additional 566,881 shares during the last quarter. Fred Alger Management Inc. lifted its holdings in shares of Tactile Systems Technology by 16.2% in the 2nd quarter. Fred Alger Management Inc. now owns 748,638 shares of the company’s stock worth $38,929,000 after acquiring an additional 104,208 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Tactile Systems Technology by 5.3% in the 2nd quarter. Janus Henderson Group PLC now owns 628,863 shares of the company’s stock worth $32,701,000 after acquiring an additional 31,714 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Tactile Systems Technology by 22.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 264,521 shares of the company’s stock worth $13,756,000 after acquiring an additional 49,350 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of Tactile Systems Technology in the 2nd quarter worth approximately $11,777,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.
Several equities analysts have recently commented on TCMD shares. Canaccord Genuity upped their price objective on shares of Tactile Systems Technology from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, September 6th. Piper Jaffray Companies restated an “overweight” rating and issued a $77.00 price objective on shares of Tactile Systems Technology in a report on Monday, September 10th. BidaskClub lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 22nd. TheStreet lowered shares of Tactile Systems Technology from a “c+” rating to a “d+” rating in a report on Monday, August 20th. Finally, Zacks Investment Research lowered shares of Tactile Systems Technology from a “hold” rating to a “sell” rating in a report on Friday, August 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $67.33.
In other Tactile Systems Technology news, CEO Gerald R. Mattys sold 39,000 shares of the stock in a transaction that occurred on Monday, October 22nd. The shares were sold at an average price of $64.26, for a total transaction of $2,506,140.00. Following the sale, the chief executive officer now directly owns 333,129 shares in the company, valued at approximately $21,406,869.54. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Robert J. Folkes sold 2,483 shares of the stock in a transaction that occurred on Thursday, October 18th. The stock was sold at an average price of $65.82, for a total transaction of $163,431.06. Following the sale, the chief operating officer now owns 115,719 shares in the company, valued at $7,616,624.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,191 shares of company stock worth $7,204,906. 8.70% of the stock is owned by company insiders.
Tactile Systems Technology stock opened at $65.48 on Thursday. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 311.81, a price-to-earnings-growth ratio of 10.51 and a beta of 1.05. Tactile Systems Technology Inc has a 52-week low of $22.72 and a 52-week high of $73.24.
Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.09. The company had revenue of $34.10 million for the quarter, compared to analyst estimates of $31.49 million. Tactile Systems Technology had a net margin of 4.91% and a return on equity of 8.41%. The firm’s quarterly revenue was up 29.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS. Equities analysts predict that Tactile Systems Technology Inc will post 0.3 earnings per share for the current year.
Tactile Systems Technology Profile
Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of chronic diseases in the United States. The company offers proprietary Flexitouch system, an at-home solution for lymphedema patients; and ACTitouch system, a home-based solution for chronic venous insufficiency patients.
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