Municipal Employees Retirement System of Michigan Buys Shares of 4,820 Tactile Systems Technology Inc (TCMD)

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Municipal Employees Retirement System of Michigan bought a new stake in shares of Tactile Systems Technology Inc (NASDAQ:TCMD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,820 shares of the company’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of TCMD. BlackRock Inc. lifted its stake in Tactile Systems Technology by 10.7% during 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 during the period. Rehmann Capital Advisory Group increased its position in shares of Tactile Systems Technology by 50,481.5% during the 3rd quarter. Rehmann Capital Advisory Group now owns 76,378 shares of the company’s stock valued at $1,075,000 after purchasing an additional 76,227 shares during the last quarter. Vanguard Group Inc increased its position 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 purchasing an additional 63,944 shares during the last quarter. Vanguard Group Inc. increased its position 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 purchasing an additional 63,944 shares during the last quarter. Finally, Putnam Investments LLC increased its position in shares of Tactile Systems Technology by 146.3% during the 3rd quarter. Putnam Investments LLC now owns 91,128 shares of the company’s stock valued at $6,475,000 after purchasing an additional 54,123 shares during the last quarter. Institutional investors and hedge funds own 97.11% of the company’s stock.

Several equities research analysts have recently commented on the stock. Canaccord Genuity upped their price target on shares of Tactile Systems Technology from $55.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Zacks Investment Research lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 5th. BTIG Research reaffirmed a “hold” rating on shares of Tactile Systems Technology in a research report on Tuesday, March 5th. BidaskClub raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 14th. Finally, Northland Securities reaffirmed a “hold” rating and set a $38.00 price target on shares of Tactile Systems Technology in a research report on Friday, January 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $73.00.

In related news, COO Robert J. Folkes sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $60.17, for a total value of $300,850.00. Following the completion of the sale, the chief operating officer now directly owns 110,270 shares of the company’s stock, valued at approximately $6,634,945.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bryan Rishe sold 3,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $62.70, for a total transaction of $188,100.00. The disclosure for this sale can be found here. Insiders sold a total of 109,390 shares of company stock valued at $7,599,469 over the last three months. 6.50% of the stock is currently owned by insiders.

NASDAQ TCMD opened at $52.49 on Tuesday. Tactile Systems Technology Inc has a 52 week low of $32.81 and a 52 week high of $76.63. The stock has a market cap of $1.02 billion, a PE ratio of 154.38, a price-to-earnings-growth ratio of 8.20 and a beta of 2.25.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Thursday, February 28th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The company had revenue of $46.45 million during the quarter, compared to analyst estimates of $43.81 million. Tactile Systems Technology had a net margin of 4.61% and a return on equity of 6.77%. As a group, sell-side analysts expect that Tactile Systems Technology Inc will post 0.33 earnings per share for the current fiscal year.

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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.

Read More: What is a good rate of return for a mutual fund?

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

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