Los Angeles Capital Management LLC increased its position in Tactile Systems Technology, Inc. (NASDAQ: TCMD – Get Rating ) by 45.0% during the third quarter, according to a recent 13F filing with the SEC. Institutional investors held 107,634 shares of the company’s stock after adding 33,385 shares during the period. Los Angeles Capital Management LLC owns a 0.53% stake in Tactile Systems Technology, worth $838,000 at the end of the most recent quarter.
Many other institutional investors have also revised their holdings in TCMD. PNC Financial Services Group Inc. increased its stake in Tactile Systems Technology by 219.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,016 shares of the company worth $40,000 after buying an additional 1,385 shares last quarter. HighMark Wealth Management LLC acquired a new stake in Tactile Systems Technology in the second quarter, valued at approximately $29,000. Banque Cantonale Vaudoise increased its stake in Tactile Systems Technology by 75.0% in the second quarter. Banque Cantonale Vaudoise now owns 7,000 shares of the company worth $51,000 after purchasing an additional 3,000 shares last quarter. Allspring Global Investments Holdings LLC increased its stake in Tactile Systems Technology by 185.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,021 shares of the company worth $70,000 after purchasing an additional 5,863 shares last quarter. Finally, Russell Investments Group Ltd. increased its stake in Tactile Systems Technology by 537.7% during the second quarter. Russell Investments Group Ltd. now owns 9,202 shares of the company worth $66,000 after buying an additional 7,759 shares last quarter. 83.99% of the shares are currently held by institutional investors.
Haptic Systems Technology shares down 0.2%
Shares of Nasdaq TCMD opened at $12.53 on Wednesday. The company’s debt-to-equity ratio is 0.41, the quick ratio is 1.68, and the current ratio is 2.10. The company’s 50-day simple moving average is $10.98 and the 200-day simple moving average is $9.10. Tactile Systems Technology, Inc. had a 12-month low of $6.28 and a 12-month high of $21.62.
Tactile Systems Technology (NASDAQ: TCMD – Rated ) last reported earnings results on Monday, November 7th. The company reported EPS of $0.10 for the quarter, beating the consensus estimate of $0.10 by $0.20. The company’s revenue for the quarter was $65.26 million, compared with analysts’ estimate of $60.2 million. Tactile Systems Technology has a net profit margin of 12.78% and a return on equity of 12.70%. As a group, research analysts expect Tactile Systems Technology, Inc. to post earnings per share of -0.32 for the year.
Analyst Promotions and Demotions
Separately, StockNews.com upgraded shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 18th. Four equity research analysts have Buy ratings on the stock, and according to MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $23.33.
About Haptic Systems Technology
Tactile Systems Technology, Inc is a medical technology company engaged in the development and supply of chronic disease medical devices in the United States. The company offers the Flexitouch Plus System, a pneumatic compression device for the treatment of lymphedema; the Entre 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 and AffloVest, a portable high-frequency chest wall oscillation test for the treatment of retained secretions in the lungs, such as bronchiectasis, cystic fibrosis and various neuromuscular diseases.
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