Tactile Systems Technology (TCMD) Raised to Hold at BidaskClub
Tactile Systems Technology (NASDAQ:TCMD) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Thursday.
TCMD has been the topic of several other research reports. BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Monday, September 18th. Guggenheim began coverage on shares of Tactile Systems Technology in a research report on Thursday, October 12th. They set a “buy” rating and a $47.00 price objective on the stock. Zacks Investment Research upgraded shares of Tactile Systems Technology from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research report on Friday, November 10th. Northland Securities began coverage on shares of Tactile Systems Technology in a research report on Tuesday, October 17th. They set a “market perform” rating on the stock. Finally, Sidoti began coverage on shares of Tactile Systems Technology in a research report on Friday, December 8th. They set a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $34.25.
Tactile Systems Technology (NASDAQ TCMD) traded up $1.37 during trading on Thursday, hitting $30.27. 909,640 shares of the stock traded hands, compared to its average volume of 444,346. The stock has a market cap of $511.58, a PE ratio of 192.67, a P/E/G ratio of 4.31 and a beta of -0.69. Tactile Systems Technology has a 12-month low of $14.37 and a 12-month high of $37.88.
In related news, VP Bryan Rishe sold 1,500 shares of the stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $32.86, for a total transaction of $49,290.00. Following the transaction, the vice president now owns 109,807 shares of the company’s stock, valued at approximately $3,608,258.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Robert J. Folkes sold 2,955 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $30.81, for a total transaction of $91,043.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 138,705 shares of company stock worth $3,890,875. 49.90% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in TCMD. Peregrine Capital Management LLC bought a new position in shares of Tactile Systems Technology during the 3rd quarter valued at $16,984,000. Koch Industries Inc. bought a new stake in Tactile Systems Technology in the 2nd quarter worth $217,000. Lord Abbett & CO. LLC grew its holdings 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 acquiring an additional 193,429 shares during the last quarter. Pier Capital LLC bought a new stake in Tactile Systems Technology in the 3rd quarter worth $5,635,000. Finally, Cortina Asset Management LLC bought a new stake in Tactile Systems Technology in the 3rd quarter worth $5,555,000. 71.68% of the stock is currently owned by institutional investors.
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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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