Geode Capital Management LLC increased its position in shares of Tactile Systems Technology Inc. (NASDAQ:TCMD) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 124,703 shares of the company’s stock after acquiring an additional 8,777 shares during the period. Geode Capital Management LLC’s holdings in Tactile Systems Technology were worth $3,613,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its holdings in Tactile Systems Technology by 34.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 10,001 shares of the company’s stock worth $290,000 after acquiring an additional 2,536 shares during the period. Bank of New York Mellon Corp increased its holdings in Tactile Systems Technology by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 79,247 shares of the company’s stock worth $2,453,000 after acquiring an additional 2,992 shares during the period. American International Group Inc. increased its holdings in shares of Tactile Systems Technology by 71.4% in the 4th quarter. American International Group Inc. now owns 10,502 shares of the company’s stock worth $304,000 after buying an additional 4,375 shares during the last quarter. Advisors Preferred LLC bought a new position in shares of Tactile Systems Technology in the 4th quarter worth $160,000. Finally, California Public Employees Retirement System increased its holdings in shares of Tactile Systems Technology by 60.8% in the 4th quarter. California Public Employees Retirement System now owns 15,678 shares of the company’s stock worth $454,000 after buying an additional 5,931 shares during the last quarter. 89.59% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO Robert J. Folkes sold 2,482 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $31.15, for a total value of $77,314.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bryan Rishe sold 1,500 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $30.92, for a total transaction of $46,380.00. Following the completion of the sale, the senior vice president now directly owns 93,145 shares of the company’s stock, valued at approximately $2,880,043.40. The disclosure for this sale can be found here. Insiders sold a total of 211,609 shares of company stock valued at $6,850,789 in the last ninety days. 8.70% of the stock is owned by corporate insiders.
A number of equities analysts have recently commented 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. Canaccord Genuity reissued a “buy” rating and issued a $37.00 price target on shares of Tactile Systems Technology in a report on Wednesday, January 3rd. Northland Securities lowered shares of Tactile Systems Technology from an “outperform” rating to a “market perform” 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 price target on the stock in a report on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Tactile Systems Technology presently has a consensus rating of “Buy” and an average target price of $36.90.
Shares of NASDAQ:TCMD opened at $34.94 on Friday. The firm has a market capitalization of $634.59, a PE ratio of 166.38, a P/E/G ratio of 6.52 and a beta of 0.42. Tactile Systems Technology Inc. has a one year low of $17.96 and a one year high of $37.88.
Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. The firm 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 expect that Tactile Systems Technology Inc. will post 0.27 earnings per share for the current fiscal 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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