Sen. Tina Smith Buys Tactile Systems Technology, Inc. (NASDAQ:TCMD) Stock

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 Performance

Shares of TCMD stock opened at $17.85 on Friday. The stock has a market cap of $428.35 million, a PE ratio of 26.31 and a beta of 1.17. The stock has a 50-day moving average of $14.58 and a 200-day moving average of $13.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.37 and a quick ratio of 3.80. Tactile Systems Technology, Inc. has a one year low of $11.12 and a one year high of $17.90.

Institutional Trading of Tactile Systems Technology

Several hedge funds and other institutional investors have recently modified their holdings of TCMD. Vanguard Group Inc. grew its holdings in shares of Tactile Systems Technology by 1.0% during the first quarter. Vanguard Group Inc. now owns 1,383,366 shares of the company’s stock worth $22,480,000 after buying an additional 13,350 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its position in Tactile Systems Technology by 90.1% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock worth $14,135,000 after acquiring an additional 561,073 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of Tactile Systems Technology by 9.8% during the 3rd quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock worth $10,624,000 after acquiring an additional 64,684 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Tactile Systems Technology by 2.5% in the third quarter. Royce & Associates LP now owns 612,979 shares of the company’s stock valued at $8,956,000 after purchasing an additional 14,780 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Tactile Systems Technology by 1.5% in the third quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock valued at $8,164,000 after purchasing an additional 8,422 shares during the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

Analysts Set New Price Targets

TCMD has been the topic of several recent analyst reports. BTIG Research lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Tuesday, November 5th. StockNews.com upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Friday, September 20th. B. Riley initiated coverage on Tactile Systems Technology in a research note on Thursday, September 26th. They set a “buy” rating and a $23.00 target price for the company. Finally, Oppenheimer lowered shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research note 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.