AlphaQuest LLC Decreases Stock Holdings in Tactile Systems Technology, Inc. $TCMD

AlphaQuest LLC decreased its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 25.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,753 shares of the company’s stock after selling 6,331 shares during the quarter. AlphaQuest LLC owned 0.08% of Tactile Systems Technology worth $190,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TCMD. SummerHaven Investment Management LLC increased its position in shares of Tactile Systems Technology by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 67,249 shares of the company’s stock valued at $682,000 after purchasing an additional 1,029 shares during the last quarter. Kopp Family Office LLC lifted its stake in shares of Tactile Systems Technology by 49.8% in the 2nd quarter. Kopp Family Office LLC now owns 135,543 shares of the company’s stock worth $1,374,000 after purchasing an additional 45,058 shares during the period. Voya Investment Management LLC lifted its stake in shares of Tactile Systems Technology by 46.8% in the 1st quarter. Voya Investment Management LLC now owns 46,037 shares of the company’s stock worth $609,000 after purchasing an additional 14,668 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Tactile Systems Technology by 149.1% in the 1st quarter. Acadian Asset Management LLC now owns 196,270 shares of the company’s stock worth $2,594,000 after purchasing an additional 117,480 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Tactile Systems Technology by 2.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company’s stock worth $2,471,000 after purchasing an additional 3,898 shares during the period. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday. William Blair upgraded shares of Tactile Systems Technology to a “strong-buy” rating in a research note on Tuesday, August 5th. B. Riley reiterated a “neutral” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 5th. Lake Street Capital assumed coverage on shares of Tactile Systems Technology in a research note on Friday, October 3rd. They issued a “buy” rating and a $23.50 price objective on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tactile Systems Technology in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Tactile Systems Technology has an average rating of “Hold” and an average price target of $16.83.

Insider Transactions at Tactile Systems Technology

In related news, CEO Sheri Louise Dodd sold 7,762 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $12.36, for a total value of $95,938.32. Following the completion of the sale, the chief executive officer directly owned 173,479 shares of the company’s stock, valued at approximately $2,144,200.44. This represents a 4.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.50% of the company’s stock.

Tactile Systems Technology Stock Performance

Tactile Systems Technology stock opened at $15.07 on Monday. The firm has a 50 day moving average of $14.12 and a 200 day moving average of $12.07. The firm has a market capitalization of $335.94 million, a price-to-earnings ratio of 24.31 and a beta of 1.04. Tactile Systems Technology, Inc. has a 12-month low of $8.61 and a 12-month high of $21.10. The company has a current ratio of 3.79, a quick ratio of 3.36 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, August 4th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. The company had revenue of $78.91 million during the quarter, compared to analyst estimates of $73.93 million. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.72%. As a group, research analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

About Tactile Systems Technology

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.