State Street Corp Cuts Holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

State Street Corp lowered its position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 6.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 538,897 shares of the company’s stock after selling 34,608 shares during the period. State Street Corp owned about 2.25% of Tactile Systems Technology worth $7,873,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TCMD. Arcadia Investment Management Corp MI purchased a new position in shares of Tactile Systems Technology in the 3rd quarter valued at about $29,000. Gladius Capital Management LP acquired a new stake in Tactile Systems Technology in the third quarter valued at approximately $44,000. Quarry LP purchased a new stake in shares of Tactile Systems Technology in the second quarter valued at approximately $46,000. SG Americas Securities LLC purchased a new stake in shares of Tactile Systems Technology in the third quarter valued at approximately $156,000. Finally, Magnetar Financial LLC acquired a new position in shares of Tactile Systems Technology during the 2nd quarter worth approximately $130,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TCMD shares. B. Riley started coverage on shares of Tactile Systems Technology in a research note on Thursday, September 26th. They issued a “buy” rating and a $23.00 price target on the stock. StockNews.com upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 20th. Oppenheimer downgraded shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Finally, BTIG Research cut Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Tuesday, November 5th.

Tactile Systems Technology Trading Down 3.0 %

Shares of TCMD opened at $17.25 on Friday. Tactile Systems Technology, Inc. has a 52-week low of $11.12 and a 52-week high of $21.10. The stock has a market cap of $413.95 million, a PE ratio of 26.54 and a beta of 1.20. The firm’s fifty day moving average is $16.61 and its two-hundred day moving average is $14.21. The company has a quick ratio of 3.80, a current ratio of 4.37 and a debt-to-equity ratio of 0.12.

Tactile Systems Technology Company Profile

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.