Voya Investment Management LLC Takes Position in Tactile Systems Technology Inc (TCMD)

Voya Investment Management LLC acquired a new position in shares of Tactile Systems Technology Inc (NASDAQ:TCMD) in the 2nd quarter, HoldingsChannel reports. The fund acquired 6,534 shares of the company’s stock, valued at approximately $340,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TCMD. BlackRock Inc. boosted its holdings in shares of Tactile Systems Technology by 31.8% during the 2nd quarter. BlackRock Inc. now owns 2,351,300 shares of the company’s stock worth $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 2nd quarter. Fred Alger Management Inc. now owns 748,638 shares of the company’s stock worth $38,929,000 after buying an additional 104,208 shares during the period. EAM Investors LLC bought a new stake in shares of Tactile Systems Technology during the 2nd quarter worth $4,841,000. Bank of New York Mellon Corp boosted its holdings in shares of Tactile Systems Technology by 22.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 264,521 shares of the company’s stock worth $13,756,000 after buying 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 2nd quarter. Chicago Equity Partners LLC now owns 51,629 shares of the company’s stock worth $2,685,000 after buying an additional 40,489 shares during the period. 95.64% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Maggie Thompson sold 2,660 shares of the stock in a transaction on Monday, July 30th. The shares were sold at an average price of $47.98, for a total value of $127,626.80. Following the completion of the transaction, the senior vice president now owns 34,802 shares in the company, valued at approximately $1,669,799.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Bryan Rishe sold 3,000 shares of the stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $57.52, for a total transaction of $172,560.00. Following the completion of the transaction, the senior vice president now owns 76,428 shares of the company’s stock, valued at approximately $4,396,138.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,177 shares of company stock valued at $4,844,455. Insiders own 8.70% of the company’s stock.

Several research firms recently issued reports on TCMD. BidaskClub raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 7th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $77.00 price objective on shares of Tactile Systems Technology in a report on Monday, September 10th. Canaccord Genuity increased their price target on shares of Tactile Systems Technology from $65.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, September 6th. Zacks Investment Research downgraded shares of Tactile Systems Technology from a “hold” rating to a “sell” rating in a report on Friday, August 10th. Finally, TheStreet downgraded shares of Tactile Systems Technology from a “c+” rating to a “d+” rating in a report on Monday, August 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $67.33.

Shares of Tactile Systems Technology stock opened at $66.09 on Friday. Tactile Systems Technology Inc has a fifty-two week low of $22.72 and a fifty-two week high of $73.24. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 314.71, a P/E/G ratio of 10.99 and a beta of 1.05.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, August 6th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $34.10 million during the quarter, compared to the consensus estimate of $31.49 million. During the same period in the prior year, the firm earned $0.20 EPS. The business’s revenue was up 29.7% on a year-over-year basis. On average, equities research analysts predict that Tactile Systems Technology Inc will post 0.32 earnings per share for the current year.

About Tactile Systems Technology

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.

Further Reading: Book Value Per Share – BVPS

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Institutional Ownership by Quarter for Tactile Systems Technology (NASDAQ:TCMD)

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