Sen. Tina Smith Buys Tactile Systems Technology, Inc. (NASDAQ:TCMD) Stock

Senator Tina Smith (D-Minnesota) recently bought shares of Tactile Systems Technology, Inc. NASDAQ: TCMD. In a filing disclosed on November 21st, the Senator disclosed that they had bought between $50,001 and $100,000 in Tactile Systems Technology stock on November 12th.

Tactile Systems Technology Trading Up 12.0 %

TCMD stock traded up $1.91 during mid-day trading on Friday, hitting $17.85. 621,488 shares of the company were exchanged, compared to its average volume of 250,501. The company has a quick ratio of 3.80, a current ratio of 4.37 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $428.35 million, a P/E ratio of 26.31 and a beta of 1.17. The business has a fifty day simple moving average of $14.58 and a 200-day simple moving average of $13.31. Tactile Systems Technology, Inc. has a 12-month low of $11.12 and a 12-month high of $17.90.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. BTIG Research lowered shares of Tactile Systems Technology from a "buy" rating to a "neutral" rating in a research note on Tuesday, November 5th. Oppenheimer cut shares of Tactile Systems Technology from an "outperform" rating to a "market perform" rating in a report on Tuesday, November 5th. B. Riley assumed coverage on shares of Tactile Systems Technology in a report on Thursday, September 26th. They issued a "buy" rating and a $23.00 price objective for the company. Finally, StockNews.com upgraded shares of Tactile Systems Technology from a "buy" rating to a "strong-buy" rating in a report on Friday, September 20th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new stake in shares of Tactile Systems Technology during the 3rd quarter worth approximately $29,000. Gladius Capital Management LP purchased a new stake in shares of Tactile Systems Technology during the 3rd quarter worth approximately $44,000. Quarry LP purchased a new stake in shares of Tactile Systems Technology during the 2nd quarter worth approximately $46,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Tactile Systems Technology during the 1st quarter worth approximately $171,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Tactile Systems Technology during the 3rd quarter worth approximately $156,000. Hedge funds and other institutional investors own 83.43% of the company's stock.

About Senator Smith

Tina Smith (Democratic Party) is a member of the U.S. Senate from Minnesota. She assumed office on January 3, 2018. Her current term ends on January 3, 2027. Smith (Democratic Party) ran for re-election to the U.S. Senate to represent Minnesota. She won in the general election on November 3, 2020. Smith succeeded former Senator Al Franken (D). She assumed office on January 3, 2018. Smith won a full term in the special general election for the position on November 6, 2018. She defeated Karin Housley (R), Sarah Wellington (Legal Marijuana Now Party), and Jerry Trooien (Unaffiliated) to win the seat. She advanced to the general election after defeating five challengers in the special Democratic primary election on August 14, 2018. Smith previously served as the 48th lieutenant governor of Minnesota. She was elected to the position on a joint ticket with incumbent Governor Mark Dayton on November 4, 2014, and was sworn into office on January 5, 2015.

About Tactile Systems Technology

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.