Tactile Systems Technology Inc (TCMD) Lifted to “Buy” at Zacks Investment Research
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 Entré 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.
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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