Public Employees Retirement System of Ohio Buys Shares of 85,000 Tactile Systems Technology, Inc. (TCMD)

Public Employees Retirement System of Ohio bought a new position in Tactile Systems Technology, Inc. (NASDAQ:TCMD) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 85,000 shares of the company’s stock, valued at approximately $2,429,000. Public Employees Retirement System of Ohio owned about 0.48% of Tactile Systems Technology at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in Tactile Systems Technology by 39.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock worth $127,000 after purchasing an additional 1,252 shares during the last quarter. Nationwide Fund Advisors grew its position in Tactile Systems Technology by 201.8% in the 2nd quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock worth $148,000 after purchasing an additional 3,457 shares during the last quarter. Bank of New York Mellon Corp grew its position in Tactile Systems Technology by 33.7% in the 1st quarter. Bank of New York Mellon Corp now owns 13,805 shares of the company’s stock worth $262,000 after purchasing an additional 3,480 shares during the last quarter. Bank of Montreal Can bought a new position in Tactile Systems Technology in the 2nd quarter worth about $146,000. Finally, Bank of America Corp DE grew its position in Tactile Systems Technology by 1,118.5% in the 1st quarter. Bank of America Corp DE now owns 6,982 shares of the company’s stock worth $133,000 after purchasing an additional 6,409 shares during the last quarter. Hedge funds and other institutional investors own 45.69% of the company’s stock.

In other Tactile Systems Technology news, CEO Gerald R. Mattys sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $31.47, for a total value of $944,100.00. Following the completion of the sale, the chief executive officer now owns 327,885 shares in the company, valued at approximately $10,318,540.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Radius Venture Partners Iii, L sold 1,000,500 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $31.02, for a total transaction of $31,035,510.00. The disclosure for this sale can be found here. Insiders sold a total of 1,073,410 shares of company stock valued at $33,366,678 in the last 90 days. Corporate insiders own 49.90% of the company’s stock.

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Several research analysts have recently issued reports on the stock. Northland Securities assumed coverage on shares of Tactile Systems Technology in a report on Tuesday, October 17th. They issued a “market perform” rating for the company. Guggenheim assumed coverage on shares of Tactile Systems Technology in a report on Thursday, October 12th. They issued a “buy” rating and a $47.00 price objective for the company. Zacks Investment Research cut shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Monday, September 18th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $37.00 price objective (up from $28.00) on shares of Tactile Systems Technology in a report on Tuesday, August 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.75.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, August 7th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. The firm had revenue of $26.30 million during the quarter, compared to analysts’ expectations of $23.88 million. Tactile Systems Technology had a net margin of 4.97% and a return on equity of 3.05%. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 EPS.

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.

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

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