JPMorgan Chase & Co. cut its position in Tactile Systems Technology Inc (NASDAQ:TCMD) by 83.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,463 shares of the company’s stock after selling 28,558 shares during the period. JPMorgan Chase & Co.’s holdings in Tactile Systems Technology were worth $388,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in TCMD. Bank of New York Mellon Corp boosted its position in Tactile Systems Technology by 22.9% in the second quarter. Bank of New York Mellon Corp now owns 264,521 shares of the company’s stock valued at $13,756,000 after buying an additional 49,350 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Tactile Systems Technology during the second quarter worth approximately $175,000. Schwab Charles Investment Management Inc. lifted its position in shares of Tactile Systems Technology by 17.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 82,575 shares of the company’s stock worth $4,294,000 after purchasing an additional 12,441 shares in the last quarter. Swiss National Bank lifted its position in shares of Tactile Systems Technology by 11.3% during 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 in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Tactile Systems Technology during the second quarter worth approximately $341,000. Hedge funds and other institutional investors own 95.59% of the company’s stock.
In other Tactile Systems Technology news, CEO Gerald R. Mattys sold 39,000 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The shares were sold at an average price of $64.26, for a total value of $2,506,140.00. Following the completion of the sale, the chief executive officer now owns 333,129 shares of the company’s stock, valued at $21,406,869.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert J. Folkes sold 2,483 shares of the company’s stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $65.82, for a total transaction of $163,431.06. Following the completion of the sale, the chief operating officer now directly owns 115,719 shares of the company’s stock, valued at approximately $7,616,624.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,822 shares of company stock valued at $6,725,674. 8.70% of the stock is currently owned by insiders.
Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Monday, November 5th. The company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.04. The business had revenue of $36.30 million during the quarter, compared to the consensus estimate of $34.22 million. Tactile Systems Technology had a net margin of 4.92% and a return on equity of 8.53%. Tactile Systems Technology’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share. On average, analysts predict that Tactile Systems Technology Inc will post 0.24 EPS for the current year.
A number of equities analysts have recently issued reports on TCMD shares. BidaskClub upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 2nd. Piper Jaffray Companies upped their target price on shares of Tactile Systems Technology to $80.00 and gave the stock a “positive” rating in a research report on Monday, January 7th. BTIG Research reissued a “hold” rating on shares of Tactile Systems Technology in a research note on Tuesday, November 6th. Northland Securities raised shares of Tactile Systems Technology from an “under perform” rating to a “market perform” rating in a research note on Wednesday, January 2nd. Finally, ValuEngine downgraded shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 7th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $65.50.
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Tactile Systems Technology Profile
Tactile Systems Technology, Inc is a medical technology company, which develops and provides innovative medical devices for the treatment of chronic diseases at home. The company focus on advancing the standard of care in treating chronic diseases in the home setting to improve patient outcomes and quality of life and help control rising healthcare expenditures.
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