Waddell & Reed Financial Inc. Has $63.23 Million Position in Tactile Systems Technology Inc (NASDAQ:TCMD)

Waddell & Reed Financial Inc. lessened its position in Tactile Systems Technology Inc (NASDAQ:TCMD) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,215,900 shares of the company’s stock after selling 15,850 shares during the quarter. Waddell & Reed Financial Inc. owned 6.63% of Tactile Systems Technology worth $63,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Tactile Systems Technology by 31.8% during the second quarter. BlackRock Inc. now owns 2,351,300 shares of the company’s stock valued at $122,266,000 after buying an additional 566,881 shares during the period. Fred Alger Management Inc. boosted its holdings in shares of Tactile Systems Technology by 16.2% during the second quarter. Fred Alger Management Inc. now owns 748,638 shares of the company’s stock worth $38,929,000 after purchasing an additional 104,208 shares during the period. EAM Investors LLC purchased a new stake in shares of Tactile Systems Technology during the second quarter worth about $4,841,000. Bank of New York Mellon Corp boosted its holdings in shares of Tactile Systems Technology by 22.9% during the second quarter. Bank of New York Mellon Corp now owns 264,521 shares of the company’s stock worth $13,756,000 after purchasing an additional 49,350 shares during the period. Finally, Chicago Equity Partners LLC boosted its holdings in shares of Tactile Systems Technology by 363.5% during the second quarter. Chicago Equity Partners LLC now owns 51,629 shares of the company’s stock worth $2,685,000 after purchasing an additional 40,489 shares during the period. 95.64% of the stock is currently owned by institutional investors and hedge funds.

In other Tactile Systems Technology news, COO Robert J. Folkes sold 3,043 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $47.54, for a total transaction of $144,664.22. Following the completion of the transaction, the chief operating officer now owns 121,279 shares of the company’s stock, valued at $5,765,603.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerald R. Mattys sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 17th. The shares were sold at an average price of $54.50, for a total transaction of $1,362,500.00. Following the transaction, the chief executive officer now directly owns 319,129 shares of the company’s stock, valued at approximately $17,392,530.50. The disclosure for this sale can be found here. Insiders have sold 108,141 shares of company stock valued at $6,452,633 in the last ninety days. Insiders own 8.70% of the company’s stock.

Shares of 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 price-to-earnings ratio of 305.24, a P/E/G ratio of 10.99 and a beta of 1.05.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, August 6th. The company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.09. Tactile Systems Technology had a net margin of 4.91% and a return on equity of 8.41%. The business had revenue of $34.10 million during the quarter, compared to the consensus estimate of $31.49 million. During the same quarter last year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was up 29.7% on a year-over-year basis. As a group, equities analysts anticipate that Tactile Systems Technology Inc will post 0.32 EPS for the current fiscal year.

TCMD has been the subject of a number of analyst reports. BidaskClub lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, June 22nd. Canaccord Genuity increased their target price on shares of Tactile Systems Technology from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, June 25th. Zacks Investment Research lowered shares of Tactile Systems Technology from a “hold” rating to a “sell” rating in a report on Friday, August 10th. TheStreet lowered shares of Tactile Systems Technology from a “c+” rating to a “d+” rating in a report on Monday, August 20th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $77.00 price objective on shares of Tactile Systems Technology in a report on Monday, September 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 stock. The stock currently has an average rating of “Hold” and a consensus target price of $56.10.

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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