Ameriprise Financial Inc. Invests $1.43 Million in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Ameriprise Financial Inc. bought a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 49,973 shares of the company’s stock, valued at approximately $1,428,000. Ameriprise Financial Inc. owned approximately 0.30% of Tactile Systems Technology as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Tactile Systems Technology by 17.2% in the 1st quarter. Geode Capital Management LLC now owns 70,704 shares of the company’s stock valued at $1,339,000 after purchasing an additional 10,377 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Tactile Systems Technology by 42.7% in the 2nd quarter. Wells Fargo & Company MN now owns 84,725 shares of the company’s stock valued at $2,422,000 after purchasing an additional 25,336 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Tactile Systems Technology by 109.6% in the 1st quarter. Vanguard Group Inc. now owns 316,566 shares of the company’s stock valued at $5,999,000 after purchasing an additional 165,506 shares in the last quarter. Cadence Capital Management LLC acquired a new stake in shares of Tactile Systems Technology in the 2nd quarter valued at $1,263,000. Finally, Blair William & Co. IL boosted its holdings in shares of Tactile Systems Technology by 105.8% in the 2nd quarter. Blair William & Co. IL now owns 301,351 shares of the company’s stock valued at $8,613,000 after purchasing an additional 154,915 shares in the last quarter. 49.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Tactile Systems Technology, Inc. (TCMD) opened at $25.76 on Tuesday. Tactile Systems Technology, Inc. has a twelve month low of $14.37 and a twelve month high of $37.88. The firm has a market capitalization of $446.62, a price-to-earnings ratio of 168.20, a P/E/G ratio of 4.85 and a beta of -0.57.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The company had revenue of $28.28 million for the quarter, compared to the consensus estimate of $27.66 million. Tactile Systems Technology had a return on equity of 4.75% and a net margin of 5.84%. Tactile Systems Technology’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the business posted $0.01 EPS. equities research analysts anticipate that Tactile Systems Technology, Inc. will post 0.26 earnings per share for the current year.

A number of brokerages have weighed in on TCMD. Zacks Investment Research raised Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Thursday, August 10th. Piper Jaffray Companies raised their target price on Tactile Systems Technology from $30.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. BTIG Research downgraded Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Monday, September 18th. Guggenheim initiated coverage on Tactile Systems Technology in a report on Thursday, October 12th. They set a “buy” rating and a $47.00 price objective on the stock. Finally, Canaccord Genuity reissued a “buy” rating and set a $37.00 price objective (up previously from $28.00) on shares of Tactile Systems Technology in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $34.25.

In other news, COO Robert J. Folkes sold 4,455 shares of Tactile Systems Technology stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $28.32, for a total value of $126,165.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Bryan Rishe sold 1,500 shares of Tactile Systems Technology stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $27.21, for a total value of $40,815.00. Following the completion of the transaction, the vice president now directly owns 105,307 shares of the company’s stock, valued at $2,865,403.47. The disclosure for this sale can be found here. Insiders have sold a total of 1,048,547 shares of company stock worth $32,560,274 over the last ninety days. Company 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.

Institutional Ownership by Quarter for Tactile Systems Technology (NASDAQ:TCMD)

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