Tactile Systems Technology, Inc. $TCMD Holdings Cut by Kopp Family Office LLC

by · The Markets Daily

Kopp Family Office LLC trimmed its stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD – Free Report) by 28.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,826 shares of the company’s stock after selling 23,327 shares during the quarter. Tactile Systems Technology accounts for 0.7% of Kopp Family Office LLC’s portfolio, making the stock its 15th biggest holding. Kopp Family Office LLC’s holdings in Tactile Systems Technology were worth $1,334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TCMD. Quantinno Capital Management LP grew its stake in shares of Tactile Systems Technology by 1.3% in the first quarter. Quantinno Capital Management LP now owns 53,612 shares of the company’s stock worth $1,401,000 after acquiring an additional 684 shares during the last quarter. IFP Advisors Inc raised its position in shares of Tactile Systems Technology by 24.3% in the 2nd quarter. IFP Advisors Inc now owns 3,606 shares of the company’s stock worth $107,000 after purchasing an additional 704 shares during the last quarter. Pinnacle Associates Ltd. raised its position in shares of Tactile Systems Technology by 0.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 327,967 shares of the company’s stock worth $7,310,000 after purchasing an additional 850 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Tactile Systems Technology by 36.4% in the 2nd quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock worth $98,000 after purchasing an additional 876 shares during the last quarter. Finally, Strs Ohio boosted its stake in Tactile Systems Technology by 4.1% in the 1st quarter. Strs Ohio now owns 22,700 shares of the company’s stock worth $593,000 after purchasing an additional 900 shares in the last quarter. 83.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TCMD has been the subject of a number of analyst reports. BTIG Research reduced their price objective on shares of Tactile Systems Technology from $39.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Weiss Ratings raised shares of Tactile Systems Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 13th. Finally, Wall Street Zen cut shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 17th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Tactile Systems Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.60.

Read Our Latest Analysis on TCMD

Insider Buying and Selling

In other Tactile Systems Technology news, CEO Sheri Dodd sold 10,978 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $29.44, for a total transaction of $323,192.32. Following the sale, the chief executive officer directly owned 232,907 shares of the company’s stock, valued at $6,856,782.08. This trade represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is currently owned by corporate insiders.

Tactile Systems Technology Price Performance

Shares of TCMD opened at $23.28 on Thursday. Tactile Systems Technology, Inc. has a one year low of $14.63 and a one year high of $37.77. The firm has a market capitalization of $527.29 million, a P/E ratio of 21.78 and a beta of 0.82. The business has a fifty day moving average of $22.74 and a 200 day moving average of $25.14.

Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.20. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. The firm had revenue of $85.70 million during the quarter, compared to the consensus estimate of $85.52 million. Analysts expect that Tactile Systems Technology, Inc. will post 1.10 EPS for the current fiscal year.

Tactile Systems Technology Profile

(Free Report)

Tactile Systems Technology, Inc, doing business as Tactile Medical, is a medical technology company focused on developing, manufacturing and distributing devices for people with chronic swelling and respiratory conditions. Its products are intended for use in the home and are commonly prescribed by health care professionals as part of ongoing disease-management programs.

The company’s core products include the Flexitouch pneumatic compression system, designed to support the treatment of lymphedema and related conditions, and the Entre system, which provides pneumatic compression therapy for the upper and lower extremities.

Further Reading

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