Swiss National Bank lifted its holdings in shares of Tactile Systems Technology Inc (NASDAQ:TCMD) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 32,700 shares of the company’s stock after acquiring an additional 900 shares during the period. Swiss National Bank’s holdings in Tactile Systems Technology were worth $2,208,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Marshall Wace North America L.P. purchased a new stake in Tactile Systems Technology during the first quarter valued at about $25,000. Exchange Traded Concepts LLC purchased a new position in shares of Tactile Systems Technology during the fourth quarter worth approximately $76,000. Pennsylvania Capital Management Inc. ADV purchased a new position in shares of Tactile Systems Technology during the fourth quarter worth approximately $226,000. Municipal Employees Retirement System of Michigan increased its position in shares of Tactile Systems Technology by 12.0% during the third quarter. Municipal Employees Retirement System of Michigan now owns 5,690 shares of the company’s stock worth $241,000 after acquiring an additional 610 shares during the period. Finally, Mason Street Advisors LLC increased its position in shares of Tactile Systems Technology by 12.6% during the third quarter. Mason Street Advisors LLC now owns 6,441 shares of the company’s stock worth $273,000 after acquiring an additional 722 shares during the period. 98.54% of the stock is owned by institutional investors.
In other news, COO Robert J. Folkes sold 2,106 shares of Tactile Systems Technology stock in a transaction dated Thursday, January 9th. The shares were sold at an average price of $68.02, for a total value of $143,250.12. Following the sale, the chief operating officer now owns 65,218 shares in the company, valued at $4,436,128.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Bryan Rishe sold 2,330 shares of Tactile Systems Technology stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $55.75, for a total transaction of $129,897.50. Following the completion of the sale, the senior vice president now owns 36,541 shares in the company, valued at approximately $2,037,160.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,122 shares of company stock valued at $1,135,631. 6.50% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently issued reports on TCMD shares. TheStreet upgraded shares of Tactile Systems Technology from a “c+” rating to a “b-” rating in a research note on Friday, December 6th. Zacks Investment Research upgraded shares of Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Wednesday, January 15th. Canaccord Genuity reiterated a “buy” rating on shares of Tactile Systems Technology in a research note on Thursday, February 27th. ValuEngine upgraded shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, BidaskClub downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Tactile Systems Technology presently has a consensus rating of “Buy” and a consensus price target of $73.83.
TCMD traded down $0.41 during trading on Wednesday, hitting $49.45. The stock had a trading volume of 1,629 shares, compared to its average volume of 152,206. Tactile Systems Technology Inc has a twelve month low of $40.62 and a twelve month high of $75.21. The stock has a 50 day simple moving average of $58.71 and a two-hundred day simple moving average of $55.80. The company has a market capitalization of $973.82 million, a PE ratio of 88.21, a PEG ratio of 6.07 and a beta of 2.13.
Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). Tactile Systems Technology had a return on equity of 10.77% and a net margin of 5.79%. The company had revenue of $57.06 million for the quarter, compared to analyst estimates of $56.10 million. On average, sell-side analysts anticipate that Tactile Systems Technology Inc will post 0.67 EPS for the current fiscal year.
Tactile Systems Technology Company Profile
Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of chronic diseases in the United States. The company offers Flexitouch system, an at-home solution for lymphedema patients; and ACTitouch system, a home-based solution for chronic venous insufficiency patients.
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