Wall Street Zen Upgrades Tactile Systems Technology (NASDAQ:TCMD) to Strong-Buy

Tactile Systems Technology (NASDAQ:TCMD) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

Several other equities analysts have also recently weighed in on TCMD. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tactile Systems Technology in a research note on Wednesday, October 8th. William Blair raised shares of Tactile Systems Technology to a “strong-buy” rating in a research report on Tuesday, August 5th. B. Riley reissued a “neutral” rating and issued a $13.00 price target (up from $12.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 5th. Finally, Lake Street Capital initiated coverage on shares of Tactile Systems Technology in a research report on Friday, October 3rd. They issued a “buy” rating and a $23.50 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Tactile Systems Technology currently has a consensus rating of “Hold” and an average price target of $16.83.

Tactile Systems Technology Price Performance

Shares of NASDAQ:TCMD opened at $15.07 on Friday. The company’s fifty day moving average is $14.12 and its two-hundred day moving average is $12.07. The company has a quick ratio of 3.36, a current ratio of 3.79 and a debt-to-equity ratio of 0.11. Tactile Systems Technology has a 12-month low of $8.61 and a 12-month high of $21.10. The company has a market cap of $335.94 million, a P/E ratio of 24.31 and a beta of 1.04.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. Tactile Systems Technology had a return on equity of 7.72% and a net margin of 5.06%.The business had revenue of $78.91 million for the quarter, compared to the consensus estimate of $73.93 million. Equities analysts expect that Tactile Systems Technology will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Tactile Systems Technology

In related news, CEO Sheri Louise Dodd sold 7,762 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $12.36, for a total value of $95,938.32. Following the transaction, the chief executive officer owned 173,479 shares in the company, valued at approximately $2,144,200.44. This represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.50% of the stock is owned by company insiders.

Institutional Trading of Tactile Systems Technology

Several large investors have recently added to or reduced their stakes in the business. Perkins Capital Management Inc. grew its position in Tactile Systems Technology by 25.6% in the third quarter. Perkins Capital Management Inc. now owns 14,066 shares of the company’s stock worth $195,000 after acquiring an additional 2,866 shares in the last quarter. Strs Ohio acquired a new stake in shares of Tactile Systems Technology in the 3rd quarter valued at $147,000. Campbell & CO Investment Adviser LLC lifted its stake in shares of Tactile Systems Technology by 23.4% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 22,875 shares of the company’s stock valued at $317,000 after purchasing an additional 4,338 shares during the last quarter. Oxford Asset Management LLP bought a new position in Tactile Systems Technology during the second quarter valued at about $124,000. Finally, Paradigm Capital Management Inc. NY raised its holdings in Tactile Systems Technology by 5.9% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock valued at $16,413,000 after buying an additional 89,600 shares in the last quarter. 83.43% of the stock is owned by institutional investors.

About Tactile Systems Technology

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.