Tactile Systems Technology (NASDAQ:TCMD) Stock Acquired Sen. Tina Smith

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 Stock Up 2.1 %

Shares of TCMD stock opened at $15.89 on Friday. The company has a market capitalization of $381.40 million, a price-to-earnings ratio of 23.77 and a beta of 1.17. Tactile Systems Technology, Inc. has a one year low of $11.12 and a one year high of $16.95. The company’s fifty day moving average price is $14.53 and its 200-day moving average price is $13.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.37 and a quick ratio of 3.80.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TCMD. B. Riley began 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 on the stock. StockNews.com raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Friday, September 20th. Oppenheimer downgraded shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Finally, BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 5th.

Institutional Trading of Tactile Systems Technology

A number of institutional investors have recently added to or reduced their stakes in TCMD. Arcadia Investment Management Corp MI bought a new stake in Tactile Systems Technology during the 3rd quarter worth approximately $29,000. Gladius Capital Management LP bought a new position in Tactile Systems Technology during the 3rd quarter worth $44,000. Quarry LP bought a new position in Tactile Systems Technology during the 2nd quarter worth $46,000. Magnetar Financial LLC bought a new position in Tactile Systems Technology during the 2nd quarter worth $130,000. Finally, SG Americas Securities LLC bought a new position in shares of Tactile Systems Technology in the third quarter worth $156,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

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.