Tactile Systems Technology, Inc. (TCMD) Now Covered by Guggenheim

Equities researchers at Guggenheim started coverage on shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) in a research report issued to clients and investors on Thursday. The firm set a “buy” rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a research note on Wednesday. BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Monday, September 18th. Canaccord Genuity reaffirmed a “buy” rating and issued a $37.00 price objective (up from $28.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 8th. Piper Jaffray Companies raised their price objective on shares of Tactile Systems Technology from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. Finally, ValuEngine raised shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $34.00.

Shares of Tactile Systems Technology (NASDAQ TCMD) opened at 30.99 on Thursday. The firm has a 50-day moving average price of $32.85 and a 200-day moving average price of $27.05. The firm has a market capitalization of $544.99 million, a P/E ratio of 117.39 and a beta of -0.07. Tactile Systems Technology has a 52-week low of $14.37 and a 52-week high of $37.88.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, August 7th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. Tactile Systems Technology had a net margin of 4.97% and a return on equity of 3.05%. The business had revenue of $26.30 million during the quarter, compared to analyst estimates of $23.88 million. During the same quarter last year, the business posted $0.04 earnings per share. Tactile Systems Technology’s revenue for the quarter was up 33.5% compared to the same quarter last year. On average, equities research analysts anticipate that Tactile Systems Technology will post $0.28 EPS for the current year.

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In other news, VP Bryan Rishe sold 1,500 shares of Tactile Systems Technology stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $30.41, for a total transaction of $45,615.00. Following the transaction, the vice president now directly owns 110,807 shares of the company’s stock, valued at $3,369,640.87. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Radius Venture Partners Iii, L sold 1,000,500 shares of Tactile Systems Technology stock in a transaction on Friday, September 15th. The stock was 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. Over the last three months, insiders have sold 1,078,547 shares of company stock worth $33,514,042. Insiders own 49.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in TCMD. JPMorgan Chase & Co. lifted 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 valued at $127,000 after acquiring an additional 1,252 shares in the last quarter. Nationwide Fund Advisors lifted 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 valued at $148,000 after acquiring an additional 3,457 shares in the last quarter. Bank of New York Mellon Corp lifted 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 valued at $262,000 after acquiring an additional 3,480 shares in the last quarter. Bank of Montreal Can bought a new stake in Tactile Systems Technology in the 2nd quarter valued at $146,000. Finally, Bank of America Corp DE lifted 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 valued at $133,000 after acquiring an additional 6,409 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

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.

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