Macquarie Group Ltd. increased its holdings in shares of Tactile Systems Technology Inc (NASDAQ:TCMD) by 10.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 49,003 shares of the company’s stock after purchasing an additional 4,764 shares during the period. Macquarie Group Ltd. owned 0.28% of Tactile Systems Technology worth $1,420,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Advisors Preferred LLC bought a new position in Tactile Systems Technology during the fourth quarter worth about $160,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Tactile Systems Technology by 10,882.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock worth $213,000 after acquiring an additional 7,400 shares during the period. State of Tennessee Treasury Department bought a new stake in shares of Tactile Systems Technology during the fourth quarter worth approximately $254,000. Texas Permanent School Fund bought a new stake in shares of Tactile Systems Technology during the fourth quarter worth approximately $284,000. Finally, California Public Employees Retirement System bought a new stake in shares of Tactile Systems Technology during the third quarter worth approximately $302,000. Institutional investors and hedge funds own 89.65% of the company’s stock.
Shares of NASDAQ:TCMD opened at $32.05 on Friday. Tactile Systems Technology Inc has a 12-month low of $16.69 and a 12-month high of $37.88. The company has a market cap of $571.47, a PE ratio of 152.62, a PEG ratio of 5.87 and a beta of 0.42.
In other news, COO Robert J. Folkes sold 1,500 shares of Tactile Systems Technology stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $28.32, for a total value of $42,480.00. Following the completion of the sale, the chief operating officer now directly owns 119,777 shares in the company, valued at $3,392,084.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jordan Davis sold 75,000 shares of Tactile Systems Technology stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $32.00, for a total transaction of $2,400,000.00. Following the completion of the sale, the director now owns 5,006 shares of the company’s stock, valued at $160,192. The disclosure for this sale can be found here. Over the last quarter, insiders sold 266,216 shares of company stock valued at $8,459,603. 49.90% of the stock is owned by company insiders.
A number of equities research analysts have recently issued reports on the company. BidaskClub upgraded Tactile Systems Technology from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research upgraded Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. Northland Securities cut Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 27th. Canaccord Genuity boosted their price objective on Tactile Systems Technology from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, Piper Jaffray upgraded Tactile Systems Technology to a “buy” rating and set a $36.00 price objective for the company in a report on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $36.90.
Tactile Systems Technology Company 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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