Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD – Free Report) by 44.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,356 shares of the company’s stock after selling 36,469 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.20% of Tactile Systems Technology worth $761,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new stake in shares of Tactile Systems Technology in the 1st quarter valued at $32,000. PNC Financial Services Group Inc. boosted its position in Tactile Systems Technology by 219.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,016 shares of the company’s stock valued at $40,000 after buying an additional 1,385 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new stake in Tactile Systems Technology during the 3rd quarter valued at $43,000. UBS Group AG boosted its position in Tactile Systems Technology by 25.1% during the 3rd quarter. UBS Group AG now owns 6,349 shares of the company’s stock valued at $50,000 after buying an additional 1,274 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in Tactile Systems Technology during the 2nd quarter valued at $75,000. Hedge funds and other institutional investors own 82.27% of the company’s stock.
Analyst Upgrades and Downgrades
TCMD has been the subject of several analyst reports. TheStreet raised shares of Tactile Systems Technology from a “d+” rating to a “c-” rating in a research report on Tuesday, May 23rd. StockNews.com upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Piper Sandler upped their price objective on shares of Tactile Systems Technology from $25.00 to $30.00 in a report on Tuesday, May 9th. Finally, Oppenheimer upped their price objective on shares of Tactile Systems Technology from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, August 8th.
Tactile Systems Technology Stock Down 0.5 %
Shares of Tactile Systems Technology stock opened at $18.20 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.08 and a quick ratio of 2.66. The company has a 50-day moving average of $22.27 and a 200 day moving average of $19.32. The firm has a market cap of $426.97 million, a price-to-earnings ratio of 606.67 and a beta of 1.23. Tactile Systems Technology, Inc. has a 1 year low of $6.52 and a 1 year high of $26.11.
Tactile Systems Technology Profile
Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema; 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; Kylee, a mobile application to help patients learn about lymphedema, track their symptoms, treatment, and share their progress with their doctor; and AffloVest, a portable high frequency chest wall oscillation vest for the treatment of retained pulmonary secretions, such as bronchiectasis, cystic fibrosis, and various neuromuscular disorders.
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