Nicholas Investment Partners LP purchased a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 60,300 shares of the company’s stock, valued at approximately $1,723,000. Nicholas Investment Partners LP owned approximately 0.36% of Tactile Systems Technology as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TCMD. Wells Fargo & Company MN increased its stake in shares of Tactile Systems Technology by 1,896.9% in the 1st quarter. Wells Fargo & Company MN now owns 59,389 shares of the company’s stock valued at $1,125,000 after purchasing an additional 56,415 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Tactile Systems Technology by 33.7% in the 1st quarter. Bank of New York Mellon Corp now owns 13,805 shares of the company’s stock valued at $262,000 after purchasing an additional 3,480 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Tactile Systems Technology in the 1st quarter valued at about $224,000. EAM Investors LLC increased its stake in shares of Tactile Systems Technology by 15.4% in the 1st quarter. EAM Investors LLC now owns 70,449 shares of the company’s stock valued at $1,335,000 after purchasing an additional 9,383 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Tactile Systems Technology by 40.0% in the 1st quarter. Blair William & Co. IL now owns 146,436 shares of the company’s stock valued at $2,962,000 after purchasing an additional 41,851 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Several brokerages recently weighed in on TCMD. Zacks Investment Research lowered Tactile Systems Technology from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Piper Jaffray Companies lifted their price target on Tactile Systems Technology from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. BTIG Research lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Monday. Canaccord Genuity restated a “buy” rating and issued a $37.00 price target (up previously from $28.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 8th. Finally, ValuEngine upgraded Tactile Systems Technology from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Tactile Systems Technology has an average rating of “Buy” and an average price target of $34.00.

In other Tactile Systems Technology news, major shareholder Radius Venture Partners Iii, L sold 1,000,500 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $31.02, for a total value of $31,035,510.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert J. Folkes sold 2,955 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $28.16, for a total transaction of $83,212.80. Following the completion of the transaction, the chief operating officer now directly owns 134,292 shares of the company’s stock, valued at $3,781,662.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,277,047 shares of company stock valued at $39,218,881. 49.90% of the stock is currently owned by corporate insiders.

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Shares of Tactile Systems Technology, Inc. (NASDAQ TCMD) opened at 33.57 on Thursday. Tactile Systems Technology, Inc. has a 12-month low of $14.37 and a 12-month high of $37.88. The company has a 50-day moving average price of $32.90 and a 200 day moving average price of $25.64. The firm has a market capitalization of $590.36 million, a PE ratio of 127.16 and a beta of 0.35.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.03. Tactile Systems Technology had a net margin of 4.97% and a return on equity of 3.05%. The company had revenue of $26.30 million during the quarter, compared to analysts’ expectations of $23.88 million. During the same period last year, the company posted $0.04 earnings per share. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, equities analysts expect that Tactile Systems Technology, Inc. will post $0.28 earnings per share for the current year.

Tactile Systems Technology 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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