Macquarie Group Ltd. Increases Position in Tactile Systems Technology Inc (NASDAQ:TCMD)

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Macquarie Group Ltd. raised its holdings in shares of Tactile Systems Technology Inc (NASDAQ:TCMD) by 14.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,324 shares of the company’s stock after buying an additional 5,548 shares during the period. Macquarie Group Ltd. owned about 0.24% of Tactile Systems Technology worth $2,523,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Royal Bank of Canada boosted its position in shares of Tactile Systems Technology by 104.1% during the second quarter. Royal Bank of Canada now owns 33,383 shares of the company’s stock valued at $1,900,000 after buying an additional 17,030 shares during the period. Scholtz & Company LLC raised its stake in shares of Tactile Systems Technology by 329.8% during the second quarter. Scholtz & Company LLC now owns 46,310 shares of the company’s stock valued at $2,636,000 after acquiring an additional 35,535 shares in the last quarter. Waddell & Reed Financial Inc. raised its stake in shares of Tactile Systems Technology by 21.2% during the second quarter. Waddell & Reed Financial Inc. now owns 1,348,288 shares of the company’s stock valued at $76,745,000 after acquiring an additional 235,921 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Tactile Systems Technology during the second quarter valued at approximately $11,386,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Tactile Systems Technology by 11.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 17,758 shares of the company’s stock valued at $1,011,000 after acquiring an additional 1,755 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

TCMD has been the subject of several research analyst reports. ValuEngine raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Wednesday. BTIG Research raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Wednesday, August 7th. TheStreet raised shares of Tactile Systems Technology from a “d+” rating to a “c+” rating in a research note on Monday, July 29th. Finally, BidaskClub downgraded shares of Tactile Systems Technology from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $72.14.

In related news, SVP Bryan Rishe sold 4,812 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $54.31, for a total value of $261,339.72. Following the completion of the transaction, the senior vice president now owns 50,674 shares of the company’s stock, valued at $2,752,104.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert J. Folkes sold 2,106 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $54.65, for a total transaction of $115,092.90. Following the completion of the transaction, the chief operating officer now directly owns 88,890 shares of the company’s stock, valued at approximately $4,857,838.50. The disclosure for this sale can be found here. Insiders sold 44,985 shares of company stock valued at $2,234,905 in the last three months. 6.50% of the stock is currently owned by insiders.

Tactile Systems Technology stock opened at $45.07 on Friday. The company has a market capitalization of $800.66 million, a PE ratio of 98.91, a P/E/G ratio of 3.57 and a beta of 2.01. Tactile Systems Technology Inc has a fifty-two week low of $37.40 and a fifty-two week high of $76.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.34 and a current ratio of 5.04. The company has a 50 day moving average price of $47.61 and a 200-day moving average price of $51.41.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.09. The company had revenue of $45.20 million during the quarter, compared to the consensus estimate of $42.60 million. Tactile Systems Technology had a net margin of 5.05% and a return on equity of 9.19%. Tactile Systems Technology’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 earnings per share. On average, analysts forecast that Tactile Systems Technology Inc will post 0.6 earnings per share for the current year.

About Tactile Systems Technology

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 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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