Schwab Charles Investment Management Inc. grew its holdings in shares of Tactile Systems Technology Inc (NASDAQ:TCMD) by 14.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 70,134 shares of the company’s stock after acquiring an additional 8,807 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Tactile Systems Technology were worth $2,231,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Miles Capital Inc. bought a new position in Tactile Systems Technology during the first quarter worth $315,000. Rhumbline Advisers lifted its stake in Tactile Systems Technology by 11.4% during the first quarter. Rhumbline Advisers now owns 31,907 shares of the company’s stock worth $1,015,000 after purchasing an additional 3,273 shares during the last quarter. Wasatch Advisors Inc. lifted its stake in Tactile Systems Technology by 13.1% during the first quarter. Wasatch Advisors Inc. now owns 105,609 shares of the company’s stock worth $3,358,000 after purchasing an additional 12,260 shares during the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in Tactile Systems Technology during the first quarter worth $15,105,000. Finally, Rehmann Capital Advisory Group bought a new position in Tactile Systems Technology during the fourth quarter worth $218,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.
In other Tactile Systems Technology news, COO Robert J. Folkes sold 3,044 shares of the stock in a transaction on Tuesday, April 10th. The stock was sold at an average price of $31.90, for a total value of $97,103.60. Following the sale, the chief operating officer now directly owns 122,447 shares of the company’s stock, valued at $3,906,059.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gerald R. Mattys sold 20,000 shares of the stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $54.38, for a total value of $1,087,600.00. The disclosure for this sale can be found here. Insiders sold 87,451 shares of company stock worth $4,331,642 over the last ninety days. 8.70% of the stock is owned by corporate insiders.
Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, May 7th. The company reported $0.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.13. Tactile Systems Technology had a return on equity of 7.86% and a net margin of 6.29%. The firm had revenue of $26.85 million for the quarter, compared to analyst estimates of $23.72 million. During the same period last year, the company earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. equities analysts anticipate that Tactile Systems Technology Inc will post 0.36 EPS for the current fiscal year.
Several brokerages recently issued reports on TCMD. BidaskClub cut Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 22nd. Canaccord Genuity raised their price objective on Tactile Systems Technology from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, June 25th. BTIG Research cut Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Monday, June 4th. They noted that the move was a valuation call. Piper Jaffray Companies raised their price objective on Tactile Systems Technology to $53.00 and gave the stock an “overweight” rating in a research note on Friday, June 1st. Finally, Northland Securities cut Tactile Systems Technology from a “market perform” rating to an “under perform” rating in a research note on Monday, June 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $48.30.
About Tactile Systems Technology
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 proprietary 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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