Pinnacle Associates Ltd. Has $819,000 Stock Holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Pinnacle Associates Ltd. lessened its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) by 81.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,283 shares of the company's stock after selling 259,741 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.24% of Tactile Systems Technology worth $819,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TCMD. Price T Rowe Associates Inc. MD raised its position in shares of Tactile Systems Technology by 7.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,371 shares of the company's stock worth $283,000 after purchasing an additional 1,159 shares during the period. Inspire Investing LLC grew its stake in Tactile Systems Technology by 4.3% during the 1st quarter. Inspire Investing LLC now owns 55,904 shares of the company's stock worth $908,000 after buying an additional 2,310 shares during the last quarter. ClariVest Asset Management LLC increased its position in Tactile Systems Technology by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 83,195 shares of the company's stock worth $993,000 after buying an additional 2,326 shares during the period. Quarry LP bought a new stake in Tactile Systems Technology in the second quarter valued at $46,000. Finally, Rhumbline Advisers boosted its holdings in shares of Tactile Systems Technology by 11.6% during the second quarter. Rhumbline Advisers now owns 39,318 shares of the company's stock valued at $469,000 after acquiring an additional 4,099 shares during the period. Institutional investors own 83.43% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on TCMD. StockNews.com upgraded shares of Tactile Systems Technology from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 20th. B. Riley began coverage on Tactile Systems Technology in a research report on Thursday, September 26th. They issued a "buy" rating and a $23.00 target price on the stock.

Tactile Systems Technology Trading Up 1.2 %

Shares of NASDAQ TCMD traded up $0.18 during mid-day trading on Friday, hitting $14.69. 173,389 shares of the company traded hands, compared to its average volume of 115,448. The company has a quick ratio of 3.89, a current ratio of 4.44 and a debt-to-equity ratio of 0.12. Tactile Systems Technology, Inc. has a 1 year low of $9.69 and a 1 year high of $16.95. The stock has a market capitalization of $349.03 million, a price-to-earnings ratio of 10.65 and a beta of 1.17. The business has a 50 day moving average of $13.99 and a two-hundred day moving average of $13.19.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.10. Tactile Systems Technology had a net margin of 11.57% and a return on equity of 16.94%. The company had revenue of $73.22 million during the quarter, compared to analyst estimates of $72.62 million. On average, sell-side analysts anticipate that Tactile Systems Technology, Inc. will post 0.64 earnings per share for the current fiscal year.

Tactile Systems Technology Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus 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.