Tactile Systems Technology (TCMD) Upgraded to “Buy” by BidaskClub

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.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.09. The business had revenue of $34.10 million during the quarter, compared to analysts’ expectations of $31.49 million. Tactile Systems Technology had a net margin of 4.91% and a return on equity of 8.41%. The business’s revenue for the quarter was up 29.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 earnings per share. As a group, sell-side analysts predict that Tactile Systems Technology will post 0.32 EPS for the current fiscal year.

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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Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

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