Tactile Systems Technology (NASDAQ:TCMD) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Thursday.
Several other research analysts have also recently issued reports on TCMD. Canaccord Genuity lifted their target price on shares of Tactile Systems Technology from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, June 25th. Zacks Investment Research lowered shares of Tactile Systems Technology from a “hold” rating to a “sell” rating in a research note on Friday, August 10th. TheStreet lowered shares of Tactile Systems Technology from a “c+” rating to a “d+” rating in a research note on Monday, August 20th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $77.00 price target on shares of Tactile Systems Technology in a research note on Monday, September 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $67.33.
Shares of Tactile Systems Technology stock opened at $64.47 on Thursday. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 206.53, a PEG ratio of 10.22 and a beta of 1.05. Tactile Systems Technology has a 52-week low of $22.72 and a 52-week high of $73.24.
In other news, SVP Bryan Rishe sold 3,000 shares of Tactile Systems Technology stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $57.52, for a total value of $172,560.00. Following the completion of the sale, the senior vice president now directly owns 76,428 shares in the company, valued at $4,396,138.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert J. Folkes sold 3,044 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $71.54, for a total transaction of $217,767.76. Following the completion of the sale, the chief operating officer now owns 116,280 shares of the company’s stock, valued at $8,318,671.20. The disclosure for this sale can be found here. Insiders sold 78,177 shares of company stock valued at $4,844,455 over the last quarter. Company insiders own 8.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in TCMD. Louisiana State Employees Retirement System grew its position in Tactile Systems Technology by 12.1% during the third quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the company’s stock valued at $526,000 after buying an additional 800 shares during the period. Northern Trust Corp grew its position in Tactile Systems Technology by 26.6% during the second quarter. Northern Trust Corp now owns 205,629 shares of the company’s stock valued at $10,693,000 after buying an additional 43,205 shares during the period. Bank of New York Mellon Corp grew its position in Tactile Systems Technology by 22.9% during the second quarter. Bank of New York Mellon Corp now owns 264,521 shares of the company’s stock valued at $13,756,000 after buying an additional 49,350 shares during the period. WINTON GROUP Ltd bought a new stake in Tactile Systems Technology during the second quarter valued at approximately $11,777,000. Finally, Putnam Investments LLC bought a new stake in Tactile Systems Technology during the second quarter valued at approximately $1,924,000. Hedge funds and other institutional investors own 95.64% of the company’s stock.
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.
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