California State Teachers Retirement System raised its position in Tactile Systems Technology Inc (NASDAQ:TCMD) by 40.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 20,453 shares of the company’s stock after buying an additional 5,908 shares during the quarter. California State Teachers Retirement System’s holdings in Tactile Systems Technology were worth $593,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisors Preferred LLC purchased a new stake in Tactile Systems Technology in the fourth quarter valued at approximately $160,000. The Manufacturers Life Insurance Company raised its position in Tactile Systems Technology by 10,882.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock valued at $213,000 after purchasing an additional 7,400 shares during the period. State of Tennessee Treasury Department purchased a new stake in Tactile Systems Technology in the fourth quarter valued at approximately $254,000. California Public Employees Retirement System purchased a new stake in Tactile Systems Technology in the third quarter valued at approximately $302,000. Finally, Texas Permanent School Fund purchased a new stake in Tactile Systems Technology in the fourth quarter valued at approximately $284,000. 89.65% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on the company. BidaskClub raised Tactile Systems Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. Zacks Investment Research lowered Tactile Systems Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Piper Jaffray raised Tactile Systems Technology to a “buy” rating and set a $36.00 target price on the stock in a research report on Tuesday, February 20th. Canaccord Genuity boosted their target price on Tactile Systems Technology from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, Northland Securities lowered Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 27th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Tactile Systems Technology has an average rating of “Buy” and a consensus target price of $36.90.
Tactile Systems Technology stock opened at $31.90 on Monday. Tactile Systems Technology Inc has a twelve month low of $16.69 and a twelve month high of $37.88. The firm has a market cap of $575.25, a PE ratio of 151.90, a P/E/G ratio of 5.91 and a beta of 0.42.
Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Tactile Systems Technology had a return on equity of 6.09% and a net margin of 5.36%. The business had revenue of $34.89 million for the quarter, compared to analyst estimates of $34.30 million. research analysts forecast that Tactile Systems Technology Inc will post 0.27 EPS for the current fiscal year.
In related news, Director Kevin H. Roche sold 30,000 shares of the stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $30.87, for a total value of $926,100.00. Following the transaction, the director now owns 81,784 shares of the company’s stock, valued at $2,524,672.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jordan Davis sold 75,000 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $32.00, for a total value of $2,400,000.00. Following the completion of the transaction, the director now directly owns 5,006 shares in the company, valued at approximately $160,192. The disclosure for this sale can be found here. Insiders have sold 266,216 shares of company stock worth $8,459,603 in the last ninety days. Corporate insiders own 49.90% of the company’s stock.
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About Tactile Systems Technology
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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