Tactile Systems Technology Inc (TCMD) Position Cut by Gilder Gagnon Howe & Co. LLC

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Gilder Gagnon Howe & Co. LLC trimmed its holdings in Tactile Systems Technology Inc (NASDAQ:TCMD) by 15.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,113 shares of the company’s stock after selling 41,624 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned about 1.22% of Tactile Systems Technology worth $15,852,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Louisiana State Employees Retirement System grew its holdings in Tactile Systems Technology by 12.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the company’s stock worth $526,000 after buying an additional 800 shares in the last quarter. Texas Permanent School Fund grew its holdings in Tactile Systems Technology by 9.7% in the 3rd quarter. Texas Permanent School Fund now owns 10,496 shares of the company’s stock worth $746,000 after buying an additional 931 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in Tactile Systems Technology by 30.3% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 5,818 shares of the company’s stock worth $303,000 after buying an additional 1,353 shares in the last quarter. Perkins Capital Management Inc. grew its holdings in Tactile Systems Technology by 3.3% in the 2nd quarter. Perkins Capital Management Inc. now owns 52,624 shares of the company’s stock worth $2,736,000 after buying an additional 1,700 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Tactile Systems Technology by 7.0% in the 1st quarter. Legal & General Group Plc now owns 27,074 shares of the company’s stock worth $853,000 after buying an additional 1,769 shares in the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

TCMD has been the subject of a number of recent analyst reports. BidaskClub lowered Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, July 13th. Canaccord Genuity reissued a “buy” rating and issued a $65.00 price objective (up from $60.00) on shares of Tactile Systems Technology in a report on Tuesday, August 7th. TheStreet lowered Tactile Systems Technology from a “c+” rating to a “d+” rating in a report on Monday, August 20th. Zacks Investment Research lowered Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Saturday, October 27th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $77.00 price objective on shares of Tactile Systems Technology in a report on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $67.33.

In other news, COO Robert J. Folkes sold 2,482 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $57.95, for a total value of $143,831.90. Following the completion of the sale, the chief operating officer now owns 120,718 shares in the company, valued at $6,995,608.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerald R. Mattys sold 39,000 shares of the stock in a transaction 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 approximately $21,406,869.54. The disclosure for this sale can be found here. Insiders have sold a total of 113,191 shares of company stock valued at $7,204,906 in the last quarter. Insiders own 8.70% of the company’s stock.

Shares of NASDAQ TCMD opened at $65.48 on Thursday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 311.81, a PEG ratio of 10.89 and a beta of 1.05. Tactile Systems Technology Inc has a 1 year low of $22.72 and a 1 year high of $73.24.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The firm had revenue of $34.10 million during the quarter, compared to analyst estimates of $31.49 million. Tactile Systems Technology had a return on equity of 8.41% and a net margin of 4.91%. The firm’s quarterly revenue was up 29.7% on a year-over-year basis. During the same period last year, the company posted $0.20 EPS. On average, equities research analysts predict that Tactile Systems Technology Inc will post 0.3 earnings per share for the current year.

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

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