Tactile Systems Technology Inc (NASDAQ:TCMD) Position Cut by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its holdings in Tactile Systems Technology Inc (NASDAQ:TCMD) by 23.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,850 shares of the company’s stock after selling 11,679 shares during the quarter. Sterling Capital Management LLC owned about 0.21% of Tactile Systems Technology worth $2,020,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TCMD. SG Americas Securities LLC purchased a new stake in shares of Tactile Systems Technology in the second quarter valued at $175,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Tactile Systems Technology in the second quarter valued at $182,000. Tealwood Asset Management Inc. purchased a new stake in shares of Tactile Systems Technology in the second quarter valued at $208,000. Engineers Gate Manager LP purchased a new stake in shares of Tactile Systems Technology in the second quarter valued at $208,000. Finally, Bank of Montreal Can acquired a new position in Tactile Systems Technology in the second quarter valued at $251,000. 95.64% of the stock is owned by institutional investors and hedge funds.

NASDAQ:TCMD opened at $62.78 on Tuesday. Tactile Systems Technology Inc has a one year low of $22.72 and a one year high of $73.24. The stock has a market capitalization of $1.30 billion, a P/E ratio of 305.24, a price-to-earnings-growth ratio of 10.99 and a beta of 1.05.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, August 6th. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.09. Tactile Systems Technology had a return on equity of 8.41% and a net margin of 4.91%. The business had revenue of $34.10 million for the quarter, compared to analysts’ expectations of $31.49 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The company’s revenue was up 29.7% compared to the same quarter last year. Analysts forecast that Tactile Systems Technology Inc will post 0.32 EPS for the current year.

A number of brokerages recently weighed in on TCMD. BidaskClub cut Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Monday. Canaccord Genuity reiterated a “buy” rating and issued a $65.00 target price (up previously from $60.00) on shares of Tactile Systems Technology in a report on Tuesday, August 7th. TheStreet cut Tactile Systems Technology from a “c+” rating to a “d+” rating in a report on Monday, August 20th. Finally, Zacks Investment Research cut Tactile Systems Technology from a “hold” rating to a “sell” rating in a report on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $56.10.

In related news, CEO Gerald R. Mattys sold 25,000 shares of the business’s stock in a transaction dated Tuesday, July 17th. The stock was sold at an average price of $54.50, for a total value of $1,362,500.00. Following the completion of the sale, the chief executive officer now directly owns 319,129 shares of the company’s stock, valued at $17,392,530.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Lynn Larson Blake sold 766 shares of the business’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $48.08, for a total value of $36,829.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,141 shares of company stock valued at $6,452,633. 8.70% of the stock is owned by corporate insiders.

Tactile Systems Technology 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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