Citadel Advisors LLC Acquires New Stake in Tactile Systems Technology, Inc. (TCMD)

Citadel Advisors LLC acquired a new stake in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,952 shares of the company’s stock, valued at approximately $556,000. Citadel Advisors LLC owned about 0.10% of Tactile Systems Technology as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Peregrine Capital Management LLC acquired a new stake in shares of Tactile Systems Technology during the 3rd quarter valued at $16,984,000. Russell Investments Group Ltd. lifted its position in shares of Tactile Systems Technology by 12.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 522,050 shares of the company’s stock valued at $16,157,000 after acquiring an additional 56,565 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its position in shares of Tactile Systems Technology by 6.8% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 466,903 shares of the company’s stock valued at $14,451,000 after acquiring an additional 29,912 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Tactile Systems Technology by 18.8% during the 2nd quarter. Vanguard Group Inc. now owns 376,161 shares of the company’s stock valued at $10,750,000 after acquiring an additional 59,595 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of Tactile Systems Technology by 108.3% during the 2nd quarter. Lord Abbett & CO. LLC now owns 371,980 shares of the company’s stock valued at $10,631,000 after acquiring an additional 193,429 shares during the last quarter. Institutional investors own 71.68% of the company’s stock.

TCMD has been the subject of a number of recent research reports. BTIG Research upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating in a research report on Thursday, November 9th. They noted that the move was a valuation call. Guggenheim initiated coverage on Tactile Systems Technology in a research report on Thursday, October 12th. They set a “buy” rating and a $47.00 price objective for the company. Northland Securities reiterated a “hold” rating and set a $31.50 price objective on shares of Tactile Systems Technology in a research report on Monday, October 16th. Zacks Investment Research downgraded Tactile Systems Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, Sidoti initiated coverage on Tactile Systems Technology in a research report on Friday. They set a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $34.25.

In other news, COO Robert J. Folkes sold 1,500 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $27.08, for a total value of $40,620.00. Following the completion of the sale, the chief operating officer now owns 127,337 shares in the company, valued at $3,448,285.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William W. Burke sold 2,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $28.86, for a total value of $57,720.00. Following the completion of the sale, the director now owns 6,306 shares of the company’s stock, valued at approximately $181,991.16. The disclosure for this sale can be found here. Insiders sold 1,084,605 shares of company stock valued at $33,344,231 in the last 90 days. Corporate insiders own 49.90% of the company’s stock.

Shares of Tactile Systems Technology, Inc. (NASDAQ TCMD) opened at $27.74 on Tuesday. The stock has a market capitalization of $495.30 and a price-to-earnings ratio of 183.53. Tactile Systems Technology, Inc. has a 1-year low of $14.37 and a 1-year high of $37.88.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. The company had revenue of $28.28 million during the quarter, compared to analyst estimates of $27.66 million. Tactile Systems Technology had a return on equity of 4.75% and a net margin of 5.84%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 earnings per share. sell-side analysts forecast that Tactile Systems Technology, Inc. will post 0.31 earnings per share for the current fiscal year.

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

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