Royce & Associates LP Has $3.01 Million Position in Tactile Systems Technology, Inc. (TCMD)

Royce & Associates LP lessened its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 6.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,300 shares of the company’s stock after selling 7,700 shares during the period. Royce & Associates LP owned 0.62% of Tactile Systems Technology worth $3,009,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Spark Investment Management LLC raised its stake 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 buying an additional 21,500 shares during the last quarter. Wells Fargo & Company MN raised its stake 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 buying an additional 56,415 shares during the last quarter. Trexquant Investment LP bought a new position in Tactile Systems Technology during the first quarter worth $224,000. Geode Capital Management LLC raised its stake in Tactile Systems Technology by 17.2% during the first quarter. Geode Capital Management LLC now owns 70,704 shares of the company’s stock worth $1,339,000 after buying an additional 10,377 shares during the last quarter. Finally, Ranger Investment Management L.P. bought a new position in Tactile Systems Technology during the first quarter worth $1,261,000. 46.00% of the stock is owned by institutional investors and hedge funds.

Shares of Tactile Systems Technology, Inc. (NASDAQ TCMD) opened at 34.44 on Monday. Tactile Systems Technology, Inc. has a 1-year low of $14.37 and a 1-year high of $36.20. The firm has a 50-day moving average of $31.91 and a 200 day moving average of $24.69. The company has a market capitalization of $605.66 million, a P/E ratio of 130.45 and a beta of 0.35.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, August 7th. The company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. Tactile Systems Technology had a net margin of 4.97% and a return on equity of 3.05%. The firm had revenue of $26.30 million during the quarter, compared to analysts’ expectations of $23.88 million. During the same period last year, the company posted $0.04 EPS. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, equities research analysts expect that Tactile Systems Technology, Inc. will post $0.28 earnings per share for the current year.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Piper Jaffray Companies lifted their target price on shares of Tactile Systems Technology from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. Canaccord Genuity reissued a “buy” rating and set a $37.00 target price (up previously from $28.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 8th. Finally, ValuEngine raised shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $34.00.

In other news, major shareholder Galen Partners V. Lp sold 295,455 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $25.00, for a total value of $7,386,375.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert J. Folkes sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $33.67, for a total transaction of $50,505.00. Following the completion of the sale, the chief operating officer now directly owns 131,837 shares of the company’s stock, valued at $4,438,951.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 757,666 shares of company stock valued at $20,346,903. Corporate insiders own 49.90% of the company’s stock.

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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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