Bank of New York Mellon Corp increased its position in shares of Tactile Systems Technology Inc (NASDAQ:TCMD) by 118.5% in the 4th quarter, HoldingsChannel reports. The firm owned 173,181 shares of the company’s stock after purchasing an additional 93,934 shares during the period. Bank of New York Mellon Corp’s holdings in Tactile Systems Technology were worth $5,018,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TCMD. Northpointe Capital LLC purchased a new position in Tactile Systems Technology during the fourth quarter worth about $4,971,000. Granahan Investment Management Inc. MA increased its holdings in Tactile Systems Technology by 135.3% in the third quarter. Granahan Investment Management Inc. MA now owns 197,537 shares of the company’s stock valued at $6,114,000 after buying an additional 113,572 shares in the last quarter. Carlson Capital Management increased its holdings in Tactile Systems Technology by 406.2% in the fourth quarter. Carlson Capital Management now owns 112,907 shares of the company’s stock valued at $3,272,000 after buying an additional 90,603 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Tactile Systems Technology in the third quarter valued at about $2,015,000. Finally, State Street Corp increased its holdings in Tactile Systems Technology by 115.1% in the second quarter. State Street Corp now owns 121,255 shares of the company’s stock valued at $3,466,000 after buying an additional 64,883 shares in the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. BidaskClub raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th. Zacks Investment Research raised shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. Northland Securities cut shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 27th. Canaccord Genuity increased their target price on shares of Tactile Systems Technology from $37.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, Piper Jaffray raised shares of Tactile Systems Technology to a “buy” rating and set a $36.00 target price for the company in a report on Tuesday, February 20th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $36.90.
In other news, COO Robert J. Folkes sold 1,500 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $28.32, for a total value of $42,480.00. Following the sale, the chief operating officer now directly owns 119,777 shares in the company, valued at $3,392,084.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gerald R. Mattys sold 6,150 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $29.23, for a total transaction of $179,764.50. Following the completion of the sale, the chief executive officer now owns 303,181 shares in the company, valued at $8,861,980.63. The disclosure for this sale can be found here. Insiders sold 266,216 shares of company stock worth $8,459,603 over the last quarter. Company insiders own 49.90% of the company’s stock.
Shares of Tactile Systems Technology stock opened at $31.90 on Monday. Tactile Systems Technology Inc has a 12-month low of $16.69 and a 12-month high of $37.88. The stock has a market capitalization of $575.25, a price-to-earnings ratio of 151.90, a P/E/G ratio of 5.91 and a beta of 0.42.
Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, February 26th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.14 by $0.04. The business had revenue of $34.89 million for the quarter, compared to analyst estimates of $34.30 million. Tactile Systems Technology had a net margin of 5.36% and a return on equity of 6.09%. equities research analysts anticipate that Tactile Systems Technology Inc will post 0.27 EPS for the current year.
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Tactile Systems Technology Profile
Tactile Systems Technology, Inc is a medical technology company that develops and provides medical devices for the treatment of chronic diseases at home. The Company is a manufacturer and distributor of the Flexitouch and Entre Systems, medical devices that help control symptoms of lymphedema, a chronic and progressive medical condition that is often an unintended consequence of cancer treatment, and the ACTitouch System, a medical device used to treat venous leg ulcers and chronic venous insufficiency.
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