Thrivent Financial For Lutherans purchased a new stake in Tactile Systems Technology Inc (NASDAQ:TCMD) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 482,036 shares of the company’s stock, valued at approximately $13,969,000.
A number of other large investors also recently made changes to their positions in TCMD. BlackRock Inc. lifted its holdings in Tactile Systems Technology by 197.1% in the fourth quarter. BlackRock Inc. now owns 1,705,703 shares of the company’s stock valued at $49,431,000 after acquiring an additional 1,131,497 shares during the period. Cortina Asset Management LLC lifted its holdings in Tactile Systems Technology by 280.0% in the fourth quarter. Cortina Asset Management LLC now owns 681,966 shares of the company’s stock valued at $19,763,000 after acquiring an additional 502,497 shares during the period. Alliancebernstein L.P. lifted its holdings in Tactile Systems Technology by 69.8% in the fourth quarter. Alliancebernstein L.P. now owns 956,008 shares of the company’s stock valued at $27,705,000 after acquiring an additional 392,987 shares during the period. Next Century Growth Investors LLC lifted its holdings in Tactile Systems Technology by 67.0% in the fourth quarter. Next Century Growth Investors LLC now owns 528,099 shares of the company’s stock valued at $15,304,000 after acquiring an additional 211,804 shares during the period. Finally, Pier Capital LLC acquired a new position in Tactile Systems Technology in the third quarter valued at approximately $5,635,000. 89.72% of the stock is owned by institutional investors.
In other news, COO Robert J. Folkes sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $28.32, for a total transaction of $42,480.00. Following the completion of the transaction, the chief operating officer now directly owns 119,777 shares of the company’s stock, valued at approximately $3,392,084.64. The sale was disclosed in a 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 that occurred on Friday, February 16th. The stock was 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. Over the last ninety days, insiders have sold 353,529 shares of company stock valued at $10,999,440. Corporate insiders own 49.90% of the company’s stock.
TCMD has been the subject of several research analyst reports. BidaskClub raised Tactile Systems Technology from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. Sidoti initiated coverage on Tactile Systems Technology in a research note on Friday, December 8th. They set a “neutral” rating for the company. Canaccord Genuity upped their target price on Tactile Systems Technology from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Piper Jaffray Companies raised Tactile Systems Technology to a “buy” rating and set a $36.00 target price for the company in a research note on Tuesday, February 20th. Finally, Zacks Investment Research downgraded Tactile Systems Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Tactile Systems Technology has an average rating of “Hold” and a consensus target price of $36.90.
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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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