Dorsey & Whitney Trust CO LLC bought a new position in Tactile Systems Technology Inc (NASDAQ:TCMD) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,139 shares of the company’s stock, valued at approximately $223,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Engineers Gate Manager LP acquired a new stake in Tactile Systems Technology in the second quarter worth approximately $208,000. Rhumbline Advisers lifted its position in Tactile Systems Technology by 18.4% in the second quarter. Rhumbline Advisers now owns 37,780 shares of the company’s stock worth $1,965,000 after purchasing an additional 5,873 shares during the period. Allianz Asset Management GmbH lifted its position in Tactile Systems Technology by 2.4% in the first quarter. Allianz Asset Management GmbH now owns 174,121 shares of the company’s stock worth $5,537,000 after purchasing an additional 4,027 shares during the period. Sei Investments Co. lifted its position in Tactile Systems Technology by 992.7% in the second quarter. Sei Investments Co. now owns 26,663 shares of the company’s stock worth $1,386,000 after purchasing an additional 24,223 shares during the period. Finally, Swiss National Bank lifted its position in Tactile Systems Technology by 11.3% in the second quarter. Swiss National Bank now owns 26,700 shares of the company’s stock worth $1,388,000 after purchasing an additional 2,700 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.
NASDAQ TCMD opened at $62.71 on Monday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 298.62, a P/E/G ratio of 10.34 and a beta of 1.05. Tactile Systems Technology Inc has a 1 year low of $22.72 and a 1 year high of $73.24.
In other Tactile Systems Technology news, CEO Gerald R. Mattys sold 39,000 shares of the company’s stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $64.26, for a total value of $2,506,140.00. Following the transaction, the chief executive officer now owns 333,129 shares of the company’s stock, valued at $21,406,869.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Bryan Rishe sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $57.52, for a total value of $172,560.00. Following the completion of the transaction, the senior vice president now directly owns 76,428 shares in the company, valued at approximately $4,396,138.56. The disclosure for this sale can be found here. Insiders sold 117,000 shares of company stock worth $7,386,400 in the last ninety days. 8.70% of the stock is owned by corporate insiders.
TCMD has been the subject of a number of research analyst reports. BidaskClub upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 7th. Canaccord Genuity restated a “buy” rating and issued a $65.00 target price (up from $60.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 7th. Zacks Investment Research cut Tactile Systems Technology from a “hold” rating to a “sell” rating in a report on Friday, August 10th. TheStreet cut Tactile Systems Technology from a “c+” rating to a “d+” rating in a report on Monday, August 20th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $77.00 price target on shares of Tactile Systems Technology in a report on Monday, September 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Tactile Systems Technology currently has a consensus rating of “Hold” and an average price target of $67.33.
About Tactile Systems Technology
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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