Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have been assigned an average rating of “Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $36.50.

TCMD has been the topic of several recent research reports. ValuEngine upgraded shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research cut shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a research report on Wednesday. Canaccord Genuity restated a “buy” rating and set a $37.00 target price (up from $28.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 8th. Guggenheim initiated coverage on shares of Tactile Systems Technology in a research report on Thursday. They set a “buy” rating on the stock. Finally, BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Monday, September 18th.

In related news, major shareholder Radius Venture Partners Iii, L sold 1,000,500 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $31.02, for a total value of $31,035,510.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Bryan Rishe sold 1,500 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $30.41, for a total transaction of $45,615.00. Following the completion of the sale, the vice president now directly owns 110,807 shares in the company, valued at $3,369,640.87. The disclosure for this sale can be found here. Insiders sold a total of 1,078,547 shares of company stock worth $33,514,042 over the last three months. 49.90% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Menta Capital LLC raised its position in Tactile Systems Technology by 66.9% in the 2nd quarter. Menta Capital LLC now owns 28,186 shares of the company’s stock worth $806,000 after purchasing an additional 11,300 shares during the period. Wells Fargo & Company MN raised its position in Tactile Systems Technology by 1,896.9% in the 1st quarter. Wells Fargo & Company MN now owns 59,389 shares of the company’s stock worth $1,125,000 after purchasing an additional 56,415 shares during the period. Geode Capital Management LLC raised its position in Tactile Systems Technology by 17.2% in the 1st quarter. Geode Capital Management LLC now owns 70,704 shares of the company’s stock worth $1,339,000 after purchasing an additional 10,377 shares during the period. Nicholas Investment Partners LP purchased a new stake in Tactile Systems Technology in the 2nd quarter worth about $1,723,000. Finally, Royce & Associates LP purchased a new stake in Tactile Systems Technology in the 1st quarter worth about $2,141,000. 45.65% of the stock is currently owned by institutional investors.

Tactile Systems Technology (NASDAQ:TCMD) opened at 30.99 on Thursday. The company has a market capitalization of $544.99 million, a PE ratio of 117.39 and a beta of -0.07. Tactile Systems Technology has a 52 week low of $14.37 and a 52 week high of $37.88. The stock’s 50 day moving average price is $32.85 and its 200-day moving average price is $27.05.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. The firm had revenue of $26.30 million for the quarter, compared to analysts’ expectations of $23.88 million. Tactile Systems Technology had a net margin of 4.97% and a return on equity of 3.05%. The business’s revenue was up 33.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 EPS. On average, equities research analysts predict that Tactile Systems Technology will post $0.28 earnings per share for the current fiscal year.

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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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