State of Tennessee Department of Treasury Buys New Holdings in Tactile Systems Technology, Inc. (NASDAQ:TCMD)

State of Tennessee Department of Treasury purchased a new position in shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,439 shares of the company’s stock, valued at approximately $145,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TCMD. Vanguard Group Inc. boosted its position in shares of Tactile Systems Technology by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 1,483,692 shares of the company’s stock valued at $25,416,000 after acquiring an additional 4,509 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tactile Systems Technology by 8.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company’s stock valued at $15,444,000 after purchasing an additional 67,934 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Tactile Systems Technology by 44.0% during the fourth quarter. Renaissance Technologies LLC now owns 451,100 shares of the company’s stock valued at $7,727,000 after purchasing an additional 137,900 shares in the last quarter. Norges Bank acquired a new position in shares of Tactile Systems Technology in the 4th quarter worth approximately $2,534,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Tactile Systems Technology during the 4th quarter worth approximately $1,328,000. Institutional investors own 83.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TCMD. StockNews.com cut Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 29th. B. Riley lowered shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $18.00 in a report on Wednesday, February 19th.

Insider Transactions at Tactile Systems Technology

In other news, VP Kristie Burns sold 4,830 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.65, for a total value of $70,759.50. Following the transaction, the vice president now directly owns 84,008 shares in the company, valued at $1,230,717.20. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel L. Reuvers sold 10,938 shares of Tactile Systems Technology stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.55, for a total value of $159,147.90. Following the sale, the director now directly owns 242,942 shares of the company’s stock, valued at approximately $3,534,806.10. This trade represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock worth $285,444 in the last quarter. 2.50% of the stock is owned by company insiders.

Tactile Systems Technology Trading Down 1.0 %

TCMD opened at $13.94 on Tuesday. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $13.66 and a two-hundred day moving average price of $15.71. Tactile Systems Technology, Inc. has a 1-year low of $11.12 and a 1-year high of $21.10. The stock has a market capitalization of $329.90 million, a PE ratio of 19.91 and a beta of 1.05.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. During the same period last year, the business posted ($0.05) EPS. As a group, equities analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current fiscal year.

About Tactile Systems Technology

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.