Tactile Systems Technology Inc (TCMD) Holdings Decreased by Millennium Management LLC

Millennium Management LLC lowered its holdings in Tactile Systems Technology Inc (NASDAQ:TCMD) by 25.9% during the 4th quarter, HoldingsChannel reports. The fund owned 91,603 shares of the company’s stock after selling 31,986 shares during the quarter. Millennium Management LLC’s holdings in Tactile Systems Technology were worth $4,173,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TCMD. Ranger Investment Management L.P. raised its holdings in shares of Tactile Systems Technology by 622.8% in the 4th quarter. Ranger Investment Management L.P. now owns 415,473 shares of the company’s stock valued at $18,925,000 after acquiring an additional 357,988 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Tactile Systems Technology by 10.7% in the 3rd quarter. BlackRock Inc. now owns 2,601,804 shares of the company’s stock valued at $184,857,000 after acquiring an additional 250,504 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of Tactile Systems Technology by 50,481.5% in the 3rd quarter. Rehmann Capital Advisory Group now owns 76,378 shares of the company’s stock valued at $1,075,000 after acquiring an additional 76,227 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Tactile Systems Technology by 6.8% during the 3rd quarter. Vanguard Group Inc now owns 1,010,783 shares of the company’s stock valued at $71,816,000 after buying an additional 63,944 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Tactile Systems Technology by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,010,783 shares of the company’s stock valued at $71,816,000 after buying an additional 63,944 shares in the last quarter. 97.11% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ TCMD opened at $54.08 on Wednesday. The stock has a market cap of $1.00 billion, a P/E ratio of 159.06, a PEG ratio of 8.06 and a beta of 2.26. Tactile Systems Technology Inc has a 1-year low of $32.81 and a 1-year high of $76.63.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Thursday, February 28th. The company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.04. The company had revenue of $46.45 million for the quarter, compared to analysts’ expectations of $43.81 million. Tactile Systems Technology had a return on equity of 6.77% and a net margin of 4.61%. As a group, research analysts anticipate that Tactile Systems Technology Inc will post 0.33 earnings per share for the current year.

TCMD has been the topic of a number of research reports. Zacks Investment Research raised Tactile Systems Technology from a “hold” rating to a “strong-buy” rating and set a $69.00 price objective on the stock in a report on Friday, January 11th. Northland Securities reissued a “hold” rating and set a $50.00 price objective on shares of Tactile Systems Technology in a report on Friday, March 22nd. BidaskClub cut Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. BTIG Research reissued a “hold” rating on shares of Tactile Systems Technology in a report on Tuesday, March 5th. Finally, Piper Jaffray Companies raised their price objective on Tactile Systems Technology to $80.00 and gave the company a “positive” rating in a report on Monday, January 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Tactile Systems Technology presently has a consensus rating of “Hold” and an average price target of $73.00.

In other Tactile Systems Technology news, COO Robert J. Folkes sold 5,000 shares of Tactile Systems Technology stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $60.17, for a total value of $300,850.00. Following the transaction, the chief operating officer now directly owns 110,270 shares of the company’s stock, valued at approximately $6,634,945.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerald R. Mattys sold 27,302 shares of Tactile Systems Technology stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $71.53, for a total value of $1,952,912.06. Following the completion of the transaction, the chief executive officer now directly owns 288,432 shares in the company, valued at $20,631,540.96. The disclosure for this sale can be found here. Insiders sold a total of 109,390 shares of company stock worth $7,599,469 over the last ninety days. Insiders own 6.50% of the company’s stock.

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

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