Swiss National Bank increased its holdings in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,400 shares of the company’s stock after buying an additional 800 shares during the period. Swiss National Bank owned about 0.23% of Tactile Systems Technology worth $2,419,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in TCMD. Marshall Wace North America L.P. purchased a new stake in Tactile Systems Technology during the 1st quarter worth approximately $25,000. Comerica Bank increased its stake in Tactile Systems Technology by 1.0% during the 4th quarter. Comerica Bank now owns 20,351 shares of the company’s stock worth $1,071,000 after buying an additional 203 shares during the period. BlackRock Inc. increased its stake in Tactile Systems Technology by 0.5% during the 4th quarter. BlackRock Inc. now owns 3,522,842 shares of the company’s stock worth $158,317,000 after buying an additional 16,028 shares during the period. Gabelli Funds LLC increased its stake in Tactile Systems Technology by 8.9% during the 4th quarter. Gabelli Funds LLC now owns 6,115 shares of the company’s stock worth $275,000 after buying an additional 500 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Tactile Systems Technology by 21.7% during the 4th quarter. Russell Investments Group Ltd. now owns 174,576 shares of the company’s stock worth $7,839,000 after buying an additional 31,086 shares during the period. 97.70% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director William W. Burke sold 800 shares of the company’s stock in a transaction on Thursday, May 13th. The shares were sold at an average price of $52.08, for a total value of $41,664.00. Following the completion of the transaction, the director now owns 5,043 shares in the company, valued at approximately $262,639.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.33% of the company’s stock.
NASDAQ TCMD opened at $51.70 on Wednesday. Tactile Systems Technology, Inc. has a 52 week low of $30.31 and a 52 week high of $64.53. The firm has a market cap of $1.02 billion, a PE ratio of -469.96, a PEG ratio of 26.83 and a beta of 1.61. The business’s 50 day moving average price is $54.30.
Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Sunday, May 2nd. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.08. Tactile Systems Technology had a negative net margin of 0.85% and a positive return on equity of 7.24%. As a group, sell-side analysts expect that Tactile Systems Technology, Inc. will post 0.39 EPS for the current year.
Separately, TheStreet raised shares of Tactile Systems Technology from a “d+” rating to a “c” rating in a research note on Tuesday, February 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Tactile Systems Technology has an average rating of “Hold” and a consensus target price of $59.00.
Tactile Systems Technology Company Profile
Tactile Systems Technology, Inc, a medical technology company, engages in the development and provision of medical devices for chronic diseases in the United States. The company offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema; and Entre system, a portable pneumatic compression device that is used for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.
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