Tactile Systems Technology Inc (NASDAQ:TCMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The brokerage presently has a $27.00 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 11.80% from the stock’s previous close.

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 EntrĂ© System and the ACTitouch System (R). Tactile Systems Technology, Inc. is headquartered in Minneapolis, Minnesota. “

Other equities research analysts also recently issued reports about the stock. BTIG Research restated a “buy” rating and issued a $26.00 target price on shares of Tactile Systems Technology in a research note on Friday, March 10th. Canaccord Genuity restated a “buy” rating on shares of Tactile Systems Technology in a research note on Tuesday, February 28th. Five equities research analysts have rated the stock with a buy rating, Tactile Systems Technology currently has a consensus rating of “Buy” and an average price target of $23.75.

Shares of Tactile Systems Technology (NASDAQ:TCMD) opened at 24.65 on Friday. The stock has a 50 day moving average price of $19.69 and a 200-day moving average price of $17.56. The company has a market capitalization of $417.57 million and a PE ratio of 222.07. Tactile Systems Technology has a 12 month low of $10.00 and a 12 month high of $25.15.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. The company had revenue of $19.85 million for the quarter, compared to analyst estimates of $16.17 million. Tactile Systems Technology had a net margin of 1.87% and a return on equity of 15.57%. Tactile Systems Technology’s revenue was up 44.9% compared to the same quarter last year. During the same period last year, the company posted ($0.45) earnings per share. Analysts forecast that Tactile Systems Technology will post $0.13 EPS for the current year.

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In other news, major shareholder Galen Partners V. Lp sold 325,000 shares of Tactile Systems Technology stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $21.25, for a total transaction of $6,906,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin H. Roche sold 25,000 shares of Tactile Systems Technology stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $19.07, for a total transaction of $476,750.00. Following the sale, the director now owns 198,782 shares of the company’s stock, valued at $3,790,772.74. The disclosure for this sale can be found here. Insiders have sold 420,230 shares of company stock valued at $8,789,103 over the last quarter.

Several large investors have recently bought and sold shares of TCMD. AWM Investment Company Inc. bought a new stake in Tactile Systems Technology during the third quarter valued at approximately $10,285,000. Driehaus Capital Management LLC increased its stake in Tactile Systems Technology by 32.1% in the first quarter. Driehaus Capital Management LLC now owns 427,166 shares of the company’s stock valued at $8,095,000 after buying an additional 103,890 shares during the last quarter. Vanguard Group Inc. increased its stake in Tactile Systems Technology by 109.6% in the first quarter. Vanguard Group Inc. now owns 316,566 shares of the company’s stock valued at $5,999,000 after buying an additional 165,506 shares during the last quarter. RTW Investments LP increased its stake in Tactile Systems Technology by 9.3% in the fourth quarter. RTW Investments LP now owns 248,762 shares of the company’s stock valued at $4,082,000 after buying an additional 21,163 shares during the last quarter. Finally, RTW Investments LLC bought a new stake in Tactile Systems Technology during the third quarter valued at approximately $4,256,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

About Tactile Systems Technology

Tactile Systems Technology, Inc is a medical technology company that develops and provides medical devices for the treatment of chronic diseases at home. The Company is a manufacturer and distributor of the Flexitouch and Entre Systems, medical devices that help control symptoms of lymphedema, a chronic and progressive medical condition that is often an unintended consequence of cancer treatment, and the ACTitouch System, a medical device used to treat venous leg ulcers and chronic venous insufficiency.

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