Tactile Systems Technology, Inc. (TCMD) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) by 258.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,040 shares of the company’s stock after purchasing an additional 10,839 shares during the period. New York State Common Retirement Fund owned approximately 0.09% of Tactile Systems Technology worth $430,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TCMD. JPMorgan Chase & Co. lifted its position in shares of Tactile Systems Technology by 39.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock valued at $127,000 after acquiring an additional 1,252 shares during the last quarter. Nationwide Fund Advisors lifted its position in shares of Tactile Systems Technology by 201.8% during the 2nd quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock valued at $148,000 after acquiring an additional 3,457 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Tactile Systems Technology by 33.7% during the 1st quarter. Bank of New York Mellon Corp now owns 13,805 shares of the company’s stock valued at $262,000 after acquiring an additional 3,480 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Tactile Systems Technology during the 2nd quarter valued at $146,000. Finally, Bank of America Corp DE lifted its position in shares of Tactile Systems Technology by 1,118.5% during the 1st quarter. Bank of America Corp DE now owns 6,982 shares of the company’s stock valued at $133,000 after acquiring an additional 6,409 shares during the last quarter. Hedge funds and other institutional investors own 49.63% of the company’s stock.

TCMD has been the subject of a number of recent research reports. Northland Securities reiterated a “hold” rating and set a $31.50 price objective on shares of Tactile Systems Technology in a research report on Monday, October 16th. ValuEngine upgraded Tactile Systems Technology from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research downgraded Tactile Systems Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Canaccord Genuity reiterated a “buy” rating and set a $37.00 price objective (up previously from $28.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 8th. Finally, BTIG Research upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating in a research report on Thursday, November 9th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $34.25.

In other news, VP Bryan Rishe sold 1,500 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $33.57, for a total value of $50,355.00. Following the transaction, the vice president now directly owns 112,807 shares of the company’s stock, valued at $3,786,930.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin H. Roche sold 25,000 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $32.37, for a total transaction of $809,250.00. Following the completion of the transaction, the director now directly owns 145,772 shares in the company, valued at $4,718,639.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,048,547 shares of company stock worth $32,560,274. Company insiders own 49.90% of the company’s stock.

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Shares of Tactile Systems Technology, Inc. (NASDAQ TCMD) opened at $26.85 on Wednesday. Tactile Systems Technology, Inc. has a one year low of $14.37 and a one year high of $37.88. The stock has a market cap of $456.00, a price-to-earnings ratio of 171.73, a price-to-earnings-growth ratio of 4.95 and a beta of -0.57.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The company had revenue of $28.28 million for the quarter, compared to the consensus estimate of $27.66 million. During the same period in the previous year, the business earned $0.01 EPS. The company’s revenue was up 25.0% on a year-over-year basis. equities research analysts anticipate that Tactile Systems Technology, Inc. will post 0.26 EPS for the current year.

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

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