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 %

TCMD stock opened at $15.89 on Friday. The company’s 50 day moving average is $14.53 and its two-hundred day moving average is $13.29. The stock has a market cap of $381.35 million, a P/E ratio of 24.45 and a beta of 1.17. Tactile Systems Technology, Inc. has a twelve month low of $11.12 and a twelve month high of $16.95. The company has a current ratio of 4.37, a quick ratio of 3.80 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On Tactile Systems Technology

Several institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Tactile Systems Technology by 7.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,371 shares of the company’s stock worth $283,000 after purchasing an additional 1,159 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tactile Systems Technology in the 3rd quarter valued at about $29,000. ClariVest Asset Management LLC raised its stake in Tactile Systems Technology by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 83,195 shares of the company’s stock valued at $993,000 after purchasing an additional 2,326 shares during the last quarter. Gladius Capital Management LP acquired a new position in Tactile Systems Technology in the 3rd quarter valued at about $44,000. Finally, Quarry LP acquired a new position in Tactile Systems Technology in the 2nd quarter valued at about $46,000. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TCMD has been the topic of a number of recent research reports. StockNews.com raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Friday, September 20th. B. Riley began coverage on shares of Tactile Systems Technology in a research report on Thursday, September 26th. They issued a “buy” rating and a $23.00 price objective on the stock. BTIG Research lowered shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 5th. Finally, Oppenheimer lowered shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th.

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.