Tactile Systems Technology (NASDAQ:TCMD) Upgraded to “Buy” by ValuEngine

Tactile Systems Technology (NASDAQ:TCMD) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday, ValuEngine reports.

Several other equities research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Saturday, May 11th. Guggenheim upped their target price on shares of Tactile Systems Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. TheStreet raised shares of Tactile Systems Technology from a “d+” rating to a “c+” rating in a report on Monday, July 29th. BidaskClub lowered shares of Tactile Systems Technology from a “hold” rating to a “sell” rating in a report on Friday, July 19th. Finally, Dougherty & Co started coverage on shares of Tactile Systems Technology in a report on Thursday, June 13th. They issued a “buy” rating and a $80.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $76.50.

Tactile Systems Technology stock traded down $1.37 on Thursday, hitting $54.53. The company’s stock had a trading volume of 166,202 shares, compared to its average volume of 113,024. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 160.38, a P/E/G ratio of 5.55 and a beta of 1.98. The company has a current ratio of 4.96, a quick ratio of 4.30 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $55.02. Tactile Systems Technology has a one year low of $37.40 and a one year high of $76.63.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, May 6th. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.20. Tactile Systems Technology had a net margin of 5.27% and a return on equity of 8.17%. The business had revenue of $37.60 million for the quarter, compared to analyst estimates of $33.30 million. The company’s revenue was up 40.3% on a year-over-year basis. On average, analysts predict that Tactile Systems Technology will post 0.52 EPS for the current fiscal year.

In other Tactile Systems Technology news, COO Robert J. Folkes sold 2,500 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $53.68, for a total transaction of $134,200.00. Following the sale, the chief operating officer now owns 107,415 shares of the company’s stock, valued at approximately $5,766,037.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Robert J. Folkes sold 2,106 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $54.65, for a total transaction of $115,092.90. Following the sale, the chief operating officer now directly owns 88,890 shares in the company, valued at approximately $4,857,838.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,692 shares of company stock worth $4,105,684. 6.50% of the stock is owned by insiders.

Large investors have recently modified their holdings of the business. Marshall Wace North America L.P. bought a new stake in Tactile Systems Technology during the 1st quarter worth about $25,000. TCI Wealth Advisors Inc. grew its holdings in Tactile Systems Technology by 2,500.0% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 520 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the last quarter. BerganKDV Wealth Management LLC bought a new stake in Tactile Systems Technology during the 1st quarter worth about $158,000. BNP Paribas Arbitrage SA grew its holdings in Tactile Systems Technology by 73,060.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,658 shares of the company’s stock worth $193,000 after acquiring an additional 3,653 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Tactile Systems Technology during the 4th quarter worth about $220,000. 98.90% of the stock is currently owned by hedge funds and other institutional investors.

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 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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