Schwab Charles Investment Management Inc. raised its stake in Tactile Systems Technology Inc (NASDAQ:TCMD) by 27.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,327 shares of the company’s stock after buying an additional 13,315 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Tactile Systems Technology were worth $1,778,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in shares of Tactile Systems Technology by 10,882.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock worth $213,000 after buying an additional 7,400 shares during the last quarter. California Public Employees Retirement System bought a new position in shares of Tactile Systems Technology in the 3rd quarter worth $302,000. Chicago Partners Investment Group LLC bought a new position in shares of Tactile Systems Technology in the 3rd quarter worth $416,000. California State Teachers Retirement System grew its holdings in shares of Tactile Systems Technology by 92.9% during the 2nd quarter. California State Teachers Retirement System now owns 16,200 shares of the company’s stock valued at $463,000 after purchasing an additional 7,800 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Tactile Systems Technology during the 3rd quarter valued at $556,000. 89.65% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on TCMD shares. Piper Jaffray Companies raised shares of Tactile Systems Technology to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, February 20th. Sidoti started coverage on shares of Tactile Systems Technology in a report on Friday, December 8th. They set a “neutral” rating on the stock. BidaskClub lowered shares of Tactile Systems Technology from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Canaccord Genuity reaffirmed a “buy” rating and set a $37.00 target price on shares of Tactile Systems Technology in a report on Wednesday, January 3rd. Finally, Zacks Investment Research lowered shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Tactile Systems Technology currently has a consensus rating of “Hold” and a consensus price target of $36.90.
Tactile Systems Technology stock opened at $31.00 on Friday. Tactile Systems Technology Inc has a twelve month low of $16.69 and a twelve month high of $37.88. The company has a market cap of $565.86, a price-to-earnings ratio of 103.34, a P/E/G ratio of 5.15 and a beta of 0.11.
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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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