Tactile Systems Technology (TCMD) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a hold rating to a strong-buy rating in a research note issued to investors on Friday morning. The firm currently has $69.00 price objective 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. “

A number of other equities analysts also recently issued reports on the stock. BidaskClub upgraded shares of Tactile Systems Technology from a sell rating to a hold rating in a research note on Wednesday, January 9th. ValuEngine upgraded shares of Tactile Systems Technology from a hold rating to a buy rating in a research note on Wednesday, January 9th. Piper Jaffray Companies increased their price objective on shares of Tactile Systems Technology to $80.00 and gave the company a positive rating in a research note on Monday, January 7th. Northland Securities upgraded shares of Tactile Systems Technology from an under perform rating to a market perform rating in a research note on Wednesday, January 2nd. Finally, BTIG Research reiterated a hold rating on shares of Tactile Systems Technology in a research note on Tuesday, November 6th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $65.50.

NASDAQ TCMD opened at $62.13 on Friday. Tactile Systems Technology has a 52-week low of $27.87 and a 52-week high of $73.24. The company has a market cap of $1.11 billion, a PE ratio of 295.86, a price-to-earnings-growth ratio of 13.87 and a beta of 1.74.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Monday, November 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.04. Tactile Systems Technology had a net margin of 4.92% and a return on equity of 8.53%. The firm had revenue of $36.30 million for the quarter, compared to the consensus estimate of $34.22 million. During the same period last year, the firm earned $0.07 earnings per share. The company’s quarterly revenue was up 28.3% on a year-over-year basis. On average, analysts predict that Tactile Systems Technology will post 0.24 EPS for the current year.

In related news, COO Robert J. Folkes sold 2,483 shares of the stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $65.82, for a total transaction of $163,431.06. Following the completion of the sale, the chief operating officer now owns 115,719 shares of the company’s stock, valued at $7,616,624.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bryan Rishe sold 3,000 shares of the stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $56.66, for a total transaction of $169,980.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,822 shares of company stock worth $6,540,514. Insiders own 8.70% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Rehmann Capital Advisory Group lifted its position in Tactile Systems Technology by 611.9% during the third quarter. Rehmann Capital Advisory Group now owns 1,075 shares of the company’s stock valued at $76,000 after acquiring an additional 924 shares during the last quarter. Riverhead Capital Management LLC purchased a new position in shares of Tactile Systems Technology in the third quarter worth $156,000. SG Americas Securities LLC purchased a new position in shares of Tactile Systems Technology in the second quarter worth $175,000. First Mercantile Trust Co. raised its holdings in shares of Tactile Systems Technology by 57.1% in the third quarter. First Mercantile Trust Co. now owns 2,696 shares of the company’s stock worth $192,000 after buying an additional 980 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Tactile Systems Technology in the second quarter worth $208,000. 95.59% of the stock is owned by institutional investors.

About Tactile Systems Technology

Tactile Systems Technology, Inc is a medical technology company, which develops and provides innovative medical devices for the treatment of chronic diseases at home. The company focus on advancing the standard of care in treating chronic diseases in the home setting to improve patient outcomes and quality of life and help control rising healthcare expenditures.

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