Peregrine Capital Management LLC increased its stake in shares of Tactile Systems Technology Inc (NASDAQ:TCMD) by 25.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,608 shares of the company’s stock after purchasing an additional 61,852 shares during the quarter. Peregrine Capital Management LLC owned 1.60% of Tactile Systems Technology worth $12,786,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TCMD. Marshall Wace North America L.P. acquired a new stake in Tactile Systems Technology during the 1st quarter valued at $25,000. Advisor Group Holdings Inc. bought a new position in Tactile Systems Technology in the first quarter worth about $28,000. Exchange Traded Concepts LLC lifted its holdings in Tactile Systems Technology by 136.5% in the first quarter. Exchange Traded Concepts LLC now owns 2,675 shares of the company’s stock worth $107,000 after acquiring an additional 1,544 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Tactile Systems Technology by 169.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,758 shares of the company’s stock worth $114,000 after acquiring an additional 1,734 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new position in Tactile Systems Technology in the fourth quarter worth about $285,000. 97.69% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Bryan Rishe sold 2,331 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $40.66, for a total transaction of $94,778.46. Following the completion of the sale, the senior vice president now owns 38,906 shares of the company’s stock, valued at $1,581,917.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 9,321 shares of company stock worth $430,508. Company insiders own 5.30% of the company’s stock.

NASDAQ TCMD traded down $1.82 on Friday, reaching $40.98. The company’s stock had a trading volume of 198,155 shares, compared to its average volume of 250,995. The firm has a market cap of $788.05 million, a PE ratio of 104.39 and a beta of 1.95. The business has a 50-day moving average price of $39.59 and a 200 day moving average price of $47.85. Tactile Systems Technology Inc has a 52 week low of $29.47 and a 52 week high of $71.65.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, May 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.05). Tactile Systems Technology had a return on equity of 7.65% and a net margin of 4.19%. The company had revenue of $43.68 million for the quarter, compared to analyst estimates of $43.65 million. As a group, equities analysts forecast that Tactile Systems Technology Inc will post -0.11 EPS for the current year.

TCMD has been the topic of a number of recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating on shares of Tactile Systems Technology in a report on Tuesday, May 5th. ValuEngine raised Tactile Systems Technology from a “hold” rating to a “buy” rating in a report on Thursday, July 2nd. Oppenheimer assumed coverage on Tactile Systems Technology in a report on Monday, May 4th. They set a “hold” rating on the stock. BTIG Research reissued a “buy” rating on shares of Tactile Systems Technology in a report on Thursday, April 23rd. Finally, BidaskClub raised Tactile Systems Technology from a “strong sell” rating to a “sell” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Tactile Systems Technology presently has a consensus rating of “Hold” and a consensus price target of $67.20.

About Tactile Systems Technology

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of chronic diseases in the United States. The company offers Flexitouch system, an at-home solution for lymphedema patients; and ACTitouch system, a home-based solution for chronic venous insufficiency patients.

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Institutional Ownership by Quarter for Tactile Systems Technology (NASDAQ:TCMD)

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