Alliancebernstein L.P. lessened its holdings in shares of Tactile Systems Technology Inc (NASDAQ:TCMD) by 19.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 876,620 shares of the company’s stock after selling 212,769 shares during the period. Alliancebernstein L.P. owned 4.75% of Tactile Systems Technology worth $62,284,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Tactile Systems Technology during the second quarter valued at approximately $175,000. Piedmont Investment Advisors LLC bought a new stake in Tactile Systems Technology during the second quarter worth approximately $182,000. First Mercantile Trust Co. raised its holdings in Tactile Systems Technology by 57.1% during the third quarter. First Mercantile Trust Co. now owns 2,696 shares of the company’s stock worth $192,000 after purchasing an additional 980 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Tactile Systems Technology during the second quarter worth approximately $208,000. Finally, Tower Research Capital LLC TRC bought a new stake in Tactile Systems Technology during the second quarter worth approximately $208,000. 92.44% of the stock is currently owned by institutional investors.
Shares of NASDAQ:TCMD opened at $54.67 on Monday. Tactile Systems Technology Inc has a 12 month low of $26.03 and a 12 month high of $73.24. The company has a market cap of $1.01 billion, a P/E ratio of 260.33, a PEG ratio of 11.88 and a beta of 1.40.
Several equities research analysts recently commented on the company. Piper Jaffray Companies reissued an “overweight” rating and set a $77.00 target price on shares of Tactile Systems Technology in a report on Monday, September 10th. BidaskClub raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Friday, August 10th. BTIG Research reissued a “hold” rating on shares of Tactile Systems Technology in a report on Tuesday, November 6th. Canaccord Genuity boosted their target price on Tactile Systems Technology from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, September 6th. Finally, Zacks Investment Research cut Tactile Systems Technology from a “hold” rating to a “sell” rating in a report on Friday, August 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Tactile Systems Technology currently has a consensus rating of “Hold” and a consensus price target of $67.33.
In other Tactile Systems Technology news, COO Robert J. Folkes sold 3,044 shares of Tactile Systems Technology stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $67.42, for a total value of $205,226.48. Following the transaction, the chief operating officer now owns 121,280 shares in the company, valued at $8,176,697.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brent Moen purchased 900 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was acquired at an average price of $54.22 per share, for a total transaction of $48,798.00. The disclosure for this purchase can be found here. In the last three months, insiders have sold 106,463 shares of company stock worth $6,779,121. 8.70% of the stock is owned by corporate insiders.
Tactile Systems Technology Profile
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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