State of Tennessee Treasury Department Increases Stock Position in Tactile Systems Technology Inc (NASDAQ:TCMD)

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State of Tennessee Treasury Department lifted its holdings in shares of Tactile Systems Technology Inc (NASDAQ:TCMD) by 9.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,287 shares of the company’s stock after acquiring an additional 999 shares during the period. State of Tennessee Treasury Department’s holdings in Tactile Systems Technology were worth $478,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Prudential Financial Inc. grew its position in shares of Tactile Systems Technology by 0.7% during the second quarter. Prudential Financial Inc. now owns 27,771 shares of the company’s stock worth $1,581,000 after acquiring an additional 200 shares during the last quarter. Wakefield Asset Management LLLP grew its position in shares of Tactile Systems Technology by 2.1% during the third quarter. Wakefield Asset Management LLLP now owns 10,663 shares of the company’s stock worth $451,000 after acquiring an additional 223 shares during the last quarter. Arizona State Retirement System grew its position in shares of Tactile Systems Technology by 1.0% during the second quarter. Arizona State Retirement System now owns 26,575 shares of the company’s stock worth $1,513,000 after acquiring an additional 266 shares during the last quarter. WINTON GROUP Ltd grew its position in shares of Tactile Systems Technology by 4.0% during the second quarter. WINTON GROUP Ltd now owns 7,827 shares of the company’s stock worth $446,000 after acquiring an additional 301 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in shares of Tactile Systems Technology during the first quarter worth approximately $25,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

In other Tactile Systems Technology news, SVP Bryan Rishe sold 4,812 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $48.62, for a total value of $233,959.44. Following the completion of the sale, the senior vice president now owns 50,674 shares of the company’s stock, valued at $2,463,769.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Robert J. Folkes sold 2,106 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $50.85, for a total value of $107,090.10. Following the completion of the sale, the chief operating officer now directly owns 84,172 shares of the company’s stock, valued at approximately $4,280,146.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,904 shares of company stock valued at $2,478,355. Corporate insiders own 6.50% of the company’s stock.

Shares of NASDAQ TCMD opened at $55.77 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.26 and a quick ratio of 3.56. The stock has a fifty day moving average price of $46.27 and a 200 day moving average price of $50.72. Tactile Systems Technology Inc has a 1-year low of $37.40 and a 1-year high of $76.63. The company has a market cap of $1.00 billion, a PE ratio of 164.03, a P/E/G ratio of 6.90 and a beta of 2.01.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Tactile Systems Technology had a return on equity of 9.41% and a net margin of 5.06%. The firm had revenue of $49.60 million during the quarter, compared to the consensus estimate of $45.47 million. During the same period last year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was up 36.6% on a year-over-year basis. Analysts anticipate that Tactile Systems Technology Inc will post 0.61 earnings per share for the current fiscal year.

TCMD has been the subject of several recent research reports. Piper Jaffray Companies decreased their price target on Tactile Systems Technology from $84.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. BTIG Research raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and set a $62.00 price target for the company in a report on Wednesday, August 7th. Zacks Investment Research downgraded Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Oppenheimer initiated coverage on Tactile Systems Technology in a report on Tuesday, October 22nd. They set a “market perform” rating for the company. Finally, BidaskClub raised Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $70.14.

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.

See Also: How are Outstanding Shares Different from Authorized Shares?

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Institutional Ownership by Quarter for Tactile Systems Technology (NASDAQ:TCMD)

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