Zacks Investment Research upgraded shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) from a hold rating to a strong-buy rating in a research note released on Friday. Zacks Investment Research currently has $28.00 price target on the stock.
According to Zacks, “Tactile Systems Technology, Inc. is a medical technology company which develops medical devices for the treatment of chronic diseases at home. The company’s product pipeline consists of Flexitouch System(R), the Entré System and the ACTitouch System (R). Tactile Systems Technology, Inc. is headquartered in Minneapolis, Minnesota. “
TCMD has been the topic of a number of other research reports. Piper Jaffray Companies raised their price target on Tactile Systems Technology from $30.00 to $36.00 and gave the stock an overweight rating in a research report on Tuesday, August 8th. Guggenheim started coverage on Tactile Systems Technology in a research report on Thursday, October 12th. They set a buy rating and a $47.00 price target on the stock. Northland Securities started coverage on Tactile Systems Technology in a research report on Tuesday, October 17th. They set a market perform rating on the stock. BTIG Research lowered Tactile Systems Technology from a buy rating to a neutral rating in a research report on Monday, September 18th. Finally, ValuEngine raised Tactile Systems Technology from a sell rating to a hold rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $34.25.
Shares of Tactile Systems Technology (TCMD) opened at $25.76 on Friday. The company has a market capitalization of $454.14 and a PE ratio of 168.20. Tactile Systems Technology has a 1 year low of $14.37 and a 1 year high of $37.88.
Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The company had revenue of $28.28 million for the quarter, compared to analyst estimates of $27.66 million. Tactile Systems Technology had a return on equity of 4.75% and a net margin of 5.84%. Tactile Systems Technology’s revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share. equities research analysts predict that Tactile Systems Technology will post 0.26 earnings per share for the current fiscal year.
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In other Tactile Systems Technology news, COO Robert J. Folkes sold 4,455 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $28.32, for a total value of $126,165.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Bryan Rishe sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $33.57, for a total value of $50,355.00. Following the completion of the transaction, the vice president now owns 112,807 shares of the company’s stock, valued at $3,786,930.99. The disclosure for this sale can be found here. In the last three months, insiders sold 1,048,547 shares of company stock worth $32,560,274. 49.90% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Menta Capital LLC grew its stake in Tactile Systems Technology by 66.9% in the second quarter. Menta Capital LLC now owns 28,186 shares of the company’s stock valued at $806,000 after purchasing an additional 11,300 shares in the last quarter. Geode Capital Management LLC grew its stake in Tactile Systems Technology by 17.2% in the first quarter. Geode Capital Management LLC now owns 70,704 shares of the company’s stock valued at $1,339,000 after purchasing an additional 10,377 shares in the last quarter. Nicholas Investment Partners LP bought a new position in Tactile Systems Technology in the second quarter valued at approximately $1,723,000. Peregrine Capital Management LLC bought a new position in Tactile Systems Technology in the third quarter valued at approximately $16,984,000. Finally, EAM Investors LLC grew its stake in Tactile Systems Technology by 153.1% in the second quarter. EAM Investors LLC now owns 178,275 shares of the company’s stock valued at $5,095,000 after purchasing an additional 107,826 shares in the last quarter. Hedge funds and other institutional investors own 49.63% of the company’s stock.
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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