Tactile Systems Technology (NASDAQ:TCMD) Stock Gets Price Target Trim from BTIG Research

Tactile Systems Technology (NASDAQ:TCMD) had its price objective reduced by BTIG Research from $35.00 to $31.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on TCMD. Weiss Ratings upgraded Tactile Systems Technology from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 13th. Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Tactile Systems Technology Stock Down 3.0%

Shares of TCMD opened at $26.37 on Tuesday. Tactile Systems Technology has a twelve month low of $20.53 and a twelve month high of $37.77. The company has a market capitalization of $589.11 million, a P/E ratio of 26.39 and a beta of 0.95. The firm has a 50 day moving average of $22.87 and a 200 day moving average of $25.84.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Monday, November 2nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.03. Tactile Systems Technology had a return on equity of 10.73% and a net margin of 6.68%. The business had revenue of $91.86 million for the quarter, compared to analysts’ expectations of $91.99 million. On average, sell-side analysts expect that Tactile Systems Technology will post 1.11 EPS for the current year.

Insider Buying and Selling

In other Tactile Systems Technology news, Director Laura G. King sold 4,800 shares of Tactile Systems Technology stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $25.00, for a total value of $120,000.00. Following the completion of the sale, the director owned 20,769 shares of the company’s stock, valued at approximately $519,225. The trade was a 18.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sheri Dodd sold 10,978 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $29.44, for a total transaction of $323,192.32. Following the completion of the sale, the chief executive officer directly owned 232,907 shares of the company’s stock, valued at approximately $6,856,782.08. This trade represents a 4.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tactile Systems Technology

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in Tactile Systems Technology during the second quarter valued at $4,561,000. Empowered Funds LLC bought a new stake in Tactile Systems Technology during the second quarter valued at about $3,607,000. BlackRock Inc. purchased a new stake in Tactile Systems Technology in the second quarter worth about $56,733,000. Punch & Associates Investment Management Inc. purchased a new stake in Tactile Systems Technology in the second quarter worth about $9,381,000. Finally, Deutsche Bank AG purchased a new stake in Tactile Systems Technology in the second quarter worth about $5,145,000. 83.43% of the stock is owned by institutional investors.

Trending Headlines about Tactile Systems Technology

Here are the key news stories impacting Tactile Systems Technology this week:

• Positive Sentiment: TCMD moved above its 200-day moving average, which Zacks described as a potentially bullish long-term technical signal. Article: Tactile Systems Technology Just Reclaimed the 200-Day Moving Average
• Positive Sentiment: Analyst price targets imply potential upside, and Zacks noted positive earnings-estimate revisions; it cautioned that price targets are not always reliable predictors. Article: Wall Street Analysts Think TCMD Could Surge
• Neutral Sentiment: Director Laura G. King sold 4,800 shares for $120,000, reducing her direct stake by 18.77%. The sale was made under a pre-arranged Rule 10b5-1 plan, which makes it less clearly a reaction to current company prospects. SEC Form 4
• Negative Sentiment: BTIG issued a pessimistic forecast, and a separate report linked TCMD shares gapping lower to an analyst downgrade. These reports point to weaker analyst sentiment as the main near-term headwind; the provided details do not specify the revised rating or price target. Article: BTIG Issues Pessimistic Forecast Article: TCMD Shares Gap Down Following Analyst Downgrade

About Tactile Systems Technology

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.