Bank of New York Mellon Corp Purchases 23,296 Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Bank of New York Mellon Corp increased its stake in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 14.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,752 shares of the company’s stock after acquiring an additional 23,296 shares during the period. Bank of New York Mellon Corp owned about 0.77% of Tactile Systems Technology worth $2,182,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TCMD. First Light Asset Management LLC grew its stake in shares of Tactile Systems Technology by 38.1% in the 4th quarter. First Light Asset Management LLC now owns 2,859,954 shares of the company’s stock worth $40,897,000 after buying an additional 788,535 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Tactile Systems Technology during the first quarter valued at approximately $815,000. Wasatch Advisors LP purchased a new stake in shares of Tactile Systems Technology in the first quarter valued at approximately $8,687,000. Vanguard Group Inc. boosted its holdings in shares of Tactile Systems Technology by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,383,366 shares of the company’s stock valued at $22,480,000 after purchasing an additional 13,350 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in Tactile Systems Technology during the first quarter worth $166,000. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Stock Up 0.8 %

Tactile Systems Technology stock opened at $14.10 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.89 and a current ratio of 4.44. Tactile Systems Technology, Inc. has a fifty-two week low of $9.69 and a fifty-two week high of $16.95. The company has a market capitalization of $335.04 million, a PE ratio of 11.75 and a beta of 1.17. The firm has a 50 day moving average price of $12.92 and a 200 day moving average price of $13.50.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.10 by $0.10. The firm had revenue of $73.22 million for the quarter, compared to analyst estimates of $72.62 million. Tactile Systems Technology had a net margin of 11.57% and a return on equity of 16.94%. Research analysts expect that Tactile Systems Technology, Inc. will post 0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 14th.

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.