Tactile Systems Technology, Inc. (NASDAQ:TCMD) has earned an average recommendation of “Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $37.00.

A number of equities research analysts have recently issued reports on the company. Zacks Investment Research raised Tactile Systems Technology from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Friday, November 10th. BTIG Research raised Tactile Systems Technology from a “neutral” rating to a “buy” rating in a research report on Thursday, November 9th. They noted that the move was a valuation call. Northland Securities assumed coverage on Tactile Systems Technology in a research report on Tuesday, October 17th. They set a “market perform” rating on the stock. Guggenheim assumed coverage on Tactile Systems Technology in a research report on Thursday, October 12th. They set a “buy” rating and a $47.00 target price on the stock. Finally, Canaccord Genuity reaffirmed 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.

In related news, CEO Gerald R. Mattys sold 40,000 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $27.00, for a total transaction of $1,080,000.00. Following the transaction, the chief executive officer now directly owns 334,013 shares of the company’s stock, valued at $9,018,351. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gerald R. Mattys sold 21,613 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $26.03, for a total value of $562,586.39. Following the transaction, the chief executive officer now directly owns 334,013 shares in the company, valued at $8,694,358.39. The disclosure for this sale can be found here. Insiders have sold 1,082,205 shares of company stock worth $33,290,101 over the last three months. 49.90% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Peregrine Capital Management LLC acquired a new position in Tactile Systems Technology in the 3rd quarter worth about $16,984,000. Russell Investments Group Ltd. increased its position in Tactile Systems Technology by 12.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 522,050 shares of the company’s stock worth $16,157,000 after purchasing an additional 56,565 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its position in Tactile Systems Technology by 6.8% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 466,903 shares of the company’s stock worth $14,451,000 after purchasing an additional 29,912 shares during the last quarter. Vanguard Group Inc. increased its position in Tactile Systems Technology by 18.8% in the 2nd quarter. Vanguard Group Inc. now owns 376,161 shares of the company’s stock worth $10,750,000 after purchasing an additional 59,595 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Tactile Systems Technology by 108.3% in the 2nd quarter. Lord Abbett & CO. LLC now owns 371,980 shares of the company’s stock worth $10,631,000 after purchasing an additional 193,429 shares during the last quarter. 71.27% of the stock is currently owned by institutional investors.

Shares of Tactile Systems Technology (NASDAQ TCMD) traded up $1.60 during trading on Friday, hitting $29.83. The stock had a trading volume of 490,300 shares, compared to its average volume of 203,542. The firm has a market capitalization of $483.97, a price-to-earnings ratio of 182.27, a price-to-earnings-growth ratio of 4.48 and a beta of -0.57. Tactile Systems Technology has a twelve month low of $14.37 and a twelve month high of $37.88.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $28.28 million for the quarter, compared to analyst estimates of $27.66 million. Tactile Systems Technology had a return on equity of 4.75% and a net margin of 5.84%. Tactile Systems Technology’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 earnings per share. research analysts expect that Tactile Systems Technology will post 0.31 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.

Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

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