Texas Permanent School Fund purchased a new position in shares of Tactile Systems Technology Inc (NASDAQ:TCMD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,813 shares of the company’s stock, valued at approximately $284,000. Texas Permanent School Fund owned approximately 0.06% of Tactile Systems Technology as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp increased its position in shares of Tactile Systems Technology by 125.4% during the second quarter. Northern Trust Corp now owns 95,227 shares of the company’s stock worth $2,721,000 after purchasing an additional 52,985 shares in the last quarter. State Street Corp increased its position in shares of Tactile Systems Technology by 115.1% during the second quarter. State Street Corp now owns 121,255 shares of the company’s stock worth $3,466,000 after purchasing an additional 64,883 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Tactile Systems Technology by 237.1% during the second quarter. TIAA CREF Investment Management LLC now owns 24,897 shares of the company’s stock worth $712,000 after purchasing an additional 17,512 shares in the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of Tactile Systems Technology during the third quarter worth approximately $16,984,000. Finally, Vanguard Group Inc. increased its position in shares of Tactile Systems Technology by 18.8% during the second quarter. Vanguard Group Inc. now owns 376,161 shares of the company’s stock worth $10,750,000 after purchasing an additional 59,595 shares in the last quarter. Hedge funds and other institutional investors own 89.72% of the company’s stock.
Several analysts recently commented on TCMD shares. Sidoti started coverage on Tactile Systems Technology in a research report on Friday, December 8th. They set a “neutral” rating for the company. BidaskClub upgraded Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. Canaccord Genuity restated a “buy” rating and issued a $37.00 target price on shares of Tactile Systems Technology in a report on Wednesday, January 3rd. Piper Jaffray Companies upgraded Tactile Systems Technology to a “buy” rating and set a $36.00 target price for the company in a report on Tuesday, February 20th. Finally, Northland Securities cut Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 27th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $36.90.
In other news, SVP Bryan Rishe sold 1,500 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $29.54, for a total transaction of $44,310.00. Following the completion of the transaction, the senior vice president now directly owns 100,807 shares in the company, valued at approximately $2,977,838.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jordan Davis sold 40,000 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $29.52, for a total value of $1,180,800.00. Following the transaction, the director now owns 5,006 shares of the company’s stock, valued at $147,777.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 353,529 shares of company stock valued at $10,999,440. 49.90% of the stock is owned by company insiders.
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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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