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.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The firm had revenue of $28.28 million for the quarter, compared to analysts’ expectations of $27.66 million. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the company posted $0.01 EPS. equities research analysts forecast that Tactile Systems Technology will post 0.34 earnings per share for the current fiscal year.

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.

COPYRIGHT VIOLATION WARNING: “Tactile Systems Technology (TCMD) Raised to Hold at BidaskClub” was posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another publication, it was copied illegally and republished in violation of United States and international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/12/16/tactile-systems-technology-tcmd-raised-to-hold-at-bidaskclub.html.

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)

Receive News & Ratings for Tactile Systems Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tactile Systems Technology and related companies with MarketBeat.com's FREE daily email newsletter.