Tactile Systems Technology Inc (NASDAQ:TCMD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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. “

TCMD has been the topic of several other research reports. Canaccord Genuity restated a “buy” rating on shares of Tactile Systems Technology in a research note on Tuesday, February 28th. BTIG Research reiterated a “buy” rating and issued a $26.00 price objective on shares of Tactile Systems Technology in a research note on Friday, March 10th. Five investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $23.75.

Shares of Tactile Systems Technology (NASDAQ:TCMD) opened at 24.65 on Friday. Tactile Systems Technology has a 12-month low of $10.00 and a 12-month high of $25.15. The company’s 50-day moving average is $19.69 and its 200-day moving average is $17.56. The stock has a market cap of $417.57 million and a P/E ratio of 222.07.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results 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 business had revenue of $19.85 million for the quarter, compared to analysts’ expectations of $16.17 million. Tactile Systems Technology had a net margin of 1.87% and a return on equity of 15.57%. The business’s revenue for the quarter was up 44.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.45) EPS. On average, equities research analysts anticipate that Tactile Systems Technology will post $0.13 earnings per share for the current year.

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In other news, COO Robert J. Folkes sold 1,500 shares of the stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $17.59, for a total value of $26,385.00. Following the transaction, the chief operating officer now owns 125,167 shares in the company, valued at approximately $2,201,687.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Lynn Larson Blake sold 2,727 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $19.25, for a total transaction of $52,494.75. Following the completion of the transaction, the chief financial officer now owns 55,946 shares in the company, valued at approximately $1,076,960.50. The disclosure for this sale can be found here. Insiders sold a total of 420,230 shares of company stock worth $8,789,103 in the last quarter.

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Tactile Systems Technology by 33.7% in the first quarter. Bank of New York Mellon Corp now owns 13,805 shares of the company’s stock valued at $262,000 after buying an additional 3,480 shares during the period. Bank of America Corp DE boosted its position in shares of Tactile Systems Technology by 1,118.5% in the first quarter. Bank of America Corp DE now owns 6,982 shares of the company’s stock valued at $133,000 after buying an additional 6,409 shares during the period. EAM Investors LLC boosted its position in shares of Tactile Systems Technology by 15.4% in the first quarter. EAM Investors LLC now owns 70,449 shares of the company’s stock valued at $1,335,000 after buying an additional 9,383 shares during the period. Geode Capital Management LLC boosted its position in shares of Tactile Systems Technology by 17.2% in the first quarter. Geode Capital Management LLC now owns 70,704 shares of the company’s stock valued at $1,339,000 after buying an additional 10,377 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of Tactile Systems Technology during the first quarter valued at $224,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Tactile Systems Technology Company Profile

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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