Goldman Sachs Group Inc. boosted its stake in shares of Tactile Systems Technology Inc. (NASDAQ:TCMD) by 190.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,057 shares of the company’s stock after purchasing an additional 26,277 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.23% of Tactile Systems Technology worth $1,161,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in TCMD. The Manufacturers Life Insurance Company boosted its position in Tactile Systems Technology by 34.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 10,001 shares of the company’s stock worth $290,000 after acquiring an additional 2,536 shares during the period. Bank of New York Mellon Corp boosted its position in Tactile Systems Technology by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 79,247 shares of the company’s stock worth $2,453,000 after acquiring an additional 2,992 shares during the period. AWM Investment Company Inc. boosted its position in Tactile Systems Technology by 0.9% during the 4th quarter. AWM Investment Company Inc. now owns 486,035 shares of the company’s stock worth $14,085,000 after acquiring an additional 4,262 shares during the period. American International Group Inc. boosted its position in Tactile Systems Technology by 71.4% during the 4th quarter. American International Group Inc. now owns 10,502 shares of the company’s stock worth $304,000 after acquiring an additional 4,375 shares during the period. Finally, Ranger Investment Management L.P. boosted its position in Tactile Systems Technology by 6.9% during the 4th quarter. Ranger Investment Management L.P. now owns 73,196 shares of the company’s stock worth $2,121,000 after acquiring an additional 4,750 shares during the period. Institutional investors and hedge funds own 89.59% of the company’s stock.
Shares of Tactile Systems Technology stock opened at $34.92 on Friday. The firm has a market capitalization of $644.87, a PE ratio of 166.29, a PEG ratio of 6.62 and a beta of 0.42. Tactile Systems Technology Inc. has a fifty-two week low of $17.96 and a fifty-two week high of $37.88.
Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The business had revenue of $34.89 million during the quarter, compared to analyst estimates of $34.30 million. Tactile Systems Technology had a return on equity of 6.09% and a net margin of 5.36%. analysts forecast that Tactile Systems Technology Inc. will post 0.27 EPS for the current year.
TCMD has been the subject of a number of analyst reports. Canaccord Genuity reiterated a “buy” rating and set a $37.00 price target on shares of Tactile Systems Technology in a research report on Wednesday, January 3rd. BidaskClub upgraded Tactile Systems Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. Piper Jaffray upgraded Tactile Systems Technology to a “buy” rating and set a $36.00 price target for the company in a research report on Tuesday, February 20th. Zacks Investment Research upgraded Tactile Systems Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th. Finally, Northland Securities lowered Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 27th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $36.90.
In other news, SVP Bryan Rishe sold 1,500 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $30.92, for a total value of $46,380.00. Following the completion of the sale, the senior vice president now owns 93,145 shares in the company, valued at $2,880,043.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Robert J. Folkes sold 2,482 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $31.15, for a total value of $77,314.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 211,609 shares of company stock valued at $6,850,789. Insiders own 8.70% of the company’s stock.
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About Tactile Systems Technology
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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