Tactile Systems Technology, Inc. (NASDAQ:TCMD) Stake Decreased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 46.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 25,450 shares of the company’s stock after selling 21,650 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.15% of Tactile Systems Technology worth $727,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of Tactile Systems Technology by 1,118.5% in the first quarter. Bank of America Corp DE now owns 6,982 shares of the company’s stock worth $133,000 after buying an additional 6,409 shares during the period. Bank of Montreal Can purchased a new stake in shares of Tactile Systems Technology during the second quarter worth about $146,000. Trexquant Investment LP purchased a new stake in shares of Tactile Systems Technology during the first quarter worth about $224,000. Bank of New York Mellon Corp boosted its stake in shares of Tactile Systems Technology by 33.7% in the first quarter. Bank of New York Mellon Corp now owns 13,805 shares of the company’s stock worth $262,000 after buying an additional 3,480 shares during the period. Finally, Menta Capital LLC purchased a new stake in shares of Tactile Systems Technology during the first quarter worth about $320,000. Institutional investors own 35.05% of the company’s stock.

Shares of Tactile Systems Technology, Inc. (TCMD) traded up 0.24% during midday trading on Friday, reaching $33.84. 360,202 shares of the company’s stock were exchanged. Tactile Systems Technology, Inc. has a 12 month low of $12.70 and a 12 month high of $35.79. The stock has a market cap of $595.11 million and a PE ratio of 128.18. The company’s 50 day moving average is $30.35 and its 200-day moving average is $22.94.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, August 7th. The company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.03. Tactile Systems Technology had a return on equity of 3.05% and a net margin of 4.97%. The company had revenue of $26.30 million for the quarter, compared to analyst estimates of $23.88 million. During the same period in the previous year, the company posted $0.04 earnings per share. The firm’s revenue was up 33.5% on a year-over-year basis. Equities analysts forecast that Tactile Systems Technology, Inc. will post $0.28 EPS for the current fiscal year.

WARNING: This story was published by Community Financial News and is owned by of Community Financial News. If you are reading this story on another publication, it was stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this story can be read at https://www.com-unik.info/2017/08/19/tactile-systems-technology-inc-nasdaqtcmd-position-cut-by-kornitzer-capital-management-inc-ks-updated.html.

A number of brokerages recently issued reports on TCMD. Zacks Investment Research upgraded shares of Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Thursday, August 10th. Canaccord Genuity reiterated a “buy” rating and set a $37.00 target price (up previously from $28.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 8th. Piper Jaffray Companies increased their target price on shares of Tactile Systems Technology from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Finally, ValuEngine upgraded shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $34.00.

In related news, COO Robert J. Folkes sold 2,955 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $28.16, for a total transaction of $83,212.80. Following the sale, the chief operating officer now directly owns 134,292 shares in the company, valued at $3,781,662.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William W. Burke sold 1,500 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $25.25, for a total value of $37,875.00. Following the sale, the director now owns 8,306 shares in the company, valued at $209,726.50. The disclosure for this sale can be found here. Insiders have sold 989,807 shares of company stock worth $25,915,094 over the last 90 days. 49.90% of the stock is currently owned by corporate insiders.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc is a medical technology company that develops and provides medical devices for the treatment of chronic diseases at home. The Company is a manufacturer and distributor of the Flexitouch and Entre Systems, medical devices that help control symptoms of lymphedema, a chronic and progressive medical condition that is often an unintended consequence of cancer treatment, and the ACTitouch System, a medical device used to treat venous leg ulcers and chronic venous insufficiency.

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

What are top analysts saying about Tactile Systems Technology Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Tactile Systems Technology Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit