Next Century Growth Investors LLC lessened its position in shares of Tactile Systems Technology Inc (NASDAQ:TCMD) by 13.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 457,926 shares of the company’s stock after selling 70,173 shares during the quarter. Tactile Systems Technology comprises 1.9% of Next Century Growth Investors LLC’s portfolio, making the stock its 10th biggest holding. Next Century Growth Investors LLC owned approximately 2.53% of Tactile Systems Technology worth $14,562,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TCMD. Schwab Charles Investment Management Inc. grew its holdings in Tactile Systems Technology by 27.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 61,327 shares of the company’s stock valued at $1,778,000 after buying an additional 13,315 shares in the last quarter. Texas Permanent School Fund purchased a new position in shares of Tactile Systems Technology in the 4th quarter worth approximately $284,000. Comerica Bank purchased a new position in shares of Tactile Systems Technology in the 4th quarter worth approximately $460,000. California Public Employees Retirement System boosted its holdings in shares of Tactile Systems Technology by 60.8% in the 4th quarter. California Public Employees Retirement System now owns 15,678 shares of the company’s stock worth $454,000 after purchasing an additional 5,931 shares during the period. Finally, Swiss National Bank purchased a new position in shares of Tactile Systems Technology in the 4th quarter worth approximately $696,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

In related news, SVP Bryan Rishe sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $31.02, for a total transaction of $46,530.00. Following the completion of the sale, the senior vice president now directly owns 91,085 shares of the company’s stock, valued at approximately $2,825,456.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William W. Burke sold 700 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $45.86, for a total value of $32,102.00. Following the sale, the director now directly owns 7,679 shares of the company’s stock, valued at $352,158.94. The disclosure for this sale can be found here. Insiders have sold a total of 37,544 shares of company stock valued at $1,529,574 over the last three months. 8.70% of the stock is owned by corporate insiders.

Shares of Tactile Systems Technology stock traded down $0.58 on Thursday, reaching $50.27. The company had a trading volume of 100 shares, compared to its average volume of 253,394. The stock has a market cap of $886.54 million, a price-to-earnings ratio of 238.05, a price-to-earnings-growth ratio of 6.81 and a beta of 0.85. Tactile Systems Technology Inc has a 1 year low of $22.72 and a 1 year high of $52.23.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, May 7th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.13. Tactile Systems Technology had a return on equity of 7.86% and a net margin of 6.29%. The firm had revenue of $26.85 million during the quarter, compared to analyst estimates of $23.72 million. During the same period last year, the company earned ($0.09) EPS. Tactile Systems Technology’s quarterly revenue was up 35.3% compared to the same quarter last year. equities analysts expect that Tactile Systems Technology Inc will post 0.36 EPS for the current year.

A number of brokerages have recently commented on TCMD. BTIG Research cut Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Monday. They noted that the move was a valuation call. Piper Jaffray Companies lifted their target price on Tactile Systems Technology to $53.00 and gave the stock an “overweight” rating in a report on Friday, June 1st. Northland Securities cut Tactile Systems Technology from a “market perform” rating to an “under perform” rating in a report on Monday. Zacks Investment Research cut Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, May 11th. Finally, BidaskClub upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Tactile Systems Technology presently has a consensus rating of “Buy” and an average price target of $44.70.

Tactile Systems Technology Company Profile

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 proprietary Flexitouch system, an at-home solution for lymphedema patients; and ACTitouch system, a home-based solution for chronic venous insufficiency patients.

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

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