Raymond James Financial Services Advisors Inc. bought a new stake in Tactile Systems Technology Inc (NASDAQ:TCMD) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,335 shares of the company’s stock, valued at approximately $357,000. Raymond James Financial Services Advisors Inc. owned about 0.07% of Tactile Systems Technology as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of TCMD. Pier Capital LLC acquired a new stake in Tactile Systems Technology during the third quarter worth about $5,635,000. Cortina Asset Management LLC acquired a new stake in Tactile Systems Technology during the third quarter worth about $5,555,000. Northpointe Capital LLC acquired a new stake in Tactile Systems Technology during the fourth quarter worth about $4,971,000. Granahan Investment Management Inc. MA increased its position in Tactile Systems Technology by 135.3% during the third quarter. Granahan Investment Management Inc. MA now owns 197,537 shares of the company’s stock worth $6,114,000 after purchasing an additional 113,572 shares during the last quarter. Finally, Axiom International Investors LLC DE acquired a new stake in Tactile Systems Technology during the third quarter worth about $3,512,000. Institutional investors and hedge funds own 89.72% of the company’s stock.
Tactile Systems Technology stock opened at $32.02 on Monday. The firm has a market cap of $576.30, a PE ratio of 106.74, a price-to-earnings-growth ratio of 5.93 and a beta of 0.11. Tactile Systems Technology Inc has a 12 month low of $16.69 and a 12 month high of $37.88.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th. Northland Securities cut shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 27th. Canaccord Genuity restated a “buy” rating and set a $37.00 price objective on shares of Tactile Systems Technology in a research report on Wednesday, January 3rd. BidaskClub upgraded shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a research report on Thursday, December 14th. Finally, Sidoti assumed coverage on shares of Tactile Systems Technology in a research report on Friday, December 8th. They set a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Tactile Systems Technology presently has a consensus rating of “Hold” and a consensus price target of $36.90.
In other Tactile Systems Technology news, CEO Gerald R. Mattys sold 25,239 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $28.51, for a total transaction of $719,563.89. Following the completion of the transaction, the chief executive officer now owns 321,857 shares of the company’s stock, valued at $9,176,143.07. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Robert J. Folkes sold 1,500 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $28.32, for a total transaction of $42,480.00. Following the transaction, the chief operating officer now directly owns 119,777 shares of the company’s stock, valued at approximately $3,392,084.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 313,529 shares of company stock valued at $9,818,640. 49.90% of the stock is currently owned by insiders.
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Tactile Systems Technology 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.
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