Bank of New York Mellon Corp Takes Position in Tactile Systems Technology, Inc. $TCMD

Bank of New York Mellon Corp bought a new stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 153,145 shares of the company's stock, valued at approximately $4,561,000. Bank of New York Mellon Corp owned approximately 0.68% of Tactile Systems Technology at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TCMD. State of Wyoming bought a new position in shares of Tactile Systems Technology during the 2nd quarter worth approximately $336,000. USA Financial Formulas acquired a new position in shares of Tactile Systems Technology during the 1st quarter valued at $71,000. Versant Capital Management Inc lifted its position in shares of Tactile Systems Technology by 36.4% during the 2nd quarter. Versant Capital Management Inc now owns 3,285 shares of the company's stock valued at $98,000 after acquiring an additional 876 shares during the period. Pacer Advisors Inc. boosted its stake in Tactile Systems Technology by 5.6% during the first quarter. Pacer Advisors Inc. now owns 58,638 shares of the company's stock worth $1,532,000 after acquiring an additional 3,124 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in Tactile Systems Technology in the first quarter worth $1,290,000. Institutional investors own 83.43% of the company's stock.

Insider Activity

In other news, CEO Sheri Dodd sold 10,978 shares of the company's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.44, for a total value of $323,192.32. Following the completion of the sale, the chief executive officer owned 232,907 shares in the company, valued at $6,856,782.08. This represents a 4.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 insiders.

Tactile Systems Technology Price Performance

TCMD opened at $21.87 on Friday. Tactile Systems Technology, Inc. has a fifty-two week low of $13.14 and a fifty-two week high of $37.77. The firm has a market capitalization of $495.36 million, a PE ratio of 20.25 and a beta of 0.80. The company's 50-day moving average is $27.02 and its 200 day moving average is $26.42.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.20. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%.The firm had revenue of $85.70 million during the quarter, compared to analyst estimates of $85.52 million. As a group, analysts expect that Tactile Systems Technology, Inc. will post 1.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wall Street Zen downgraded Tactile Systems Technology from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. Weiss Ratings lowered Tactile Systems Technology from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, August 31st. Finally, BTIG Research reduced their price objective on Tactile Systems Technology from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $38.40.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, headquartered in Plymouth, Minnesota, is a medical device company specializing in the design, manufacture and marketing of home-use pneumatic compression therapy systems for the treatment of lymphedema and other chronic edema-related conditions. Using proprietary software and patented pump technologies, the company's platforms are designed to improve patient outcomes through sequential pressure treatment that promotes fluid mobilization and enhanced lymphatic function.

At the core of Tactile Systems' product portfolio is the Flexitouch® system, a programmable pneumatic pump and garment system approved for home use, and the Aria® device, which features an intuitive touchscreen interface and advanced garment design.

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