Tactile Systems Technology (NASDAQ:TCMD) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Several other research firms have also recently weighed in on TCMD. BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Monday, September 18th. Northland Securities reiterated a “hold” rating and set a $31.50 price objective on shares of Tactile Systems Technology in a research report on Monday, October 16th. Zacks Investment Research cut shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Guggenheim assumed 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. Finally, Canaccord Genuity reiterated a “buy” rating and set a $37.00 price objective on shares of Tactile Systems Technology in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $34.25.

Tactile Systems Technology (NASDAQ TCMD) traded down $0.77 during midday trading on Friday, reaching $28.05. 198,484 shares of the company’s stock traded hands, compared to its average volume of 195,798. Tactile Systems Technology has a 12-month low of $14.37 and a 12-month high of $37.88. The stock has a market cap of $510.17, a PE ratio of 90.48, a price-to-earnings-growth ratio of 6.55 and a beta of -0.60.

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, topping the consensus estimate of $0.05 by $0.02. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The firm had revenue of $28.28 million for the quarter, compared to analysts’ expectations of $27.66 million. During the same period in the previous year, the company posted $0.01 EPS. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. research analysts expect that Tactile Systems Technology will post 0.34 earnings per share for the current year.

In other news, VP Bryan Rishe sold 1,500 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $31.87, for a total transaction of $47,805.00. Following the transaction, the vice president now directly owns 106,807 shares in the company, valued at approximately $3,403,939.09. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gerald R. Mattys sold 23,056 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $29.39, for a total transaction of $677,615.84. Following the transaction, the chief executive officer now owns 309,331 shares in the company, valued at $9,091,238.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 155,806 shares of company stock worth $4,377,532. 49.90% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Tactile Systems Technology by 39.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock valued at $127,000 after acquiring an additional 1,252 shares in the last quarter. Nationwide Fund Advisors grew its holdings in shares of Tactile Systems Technology by 201.8% during the 2nd quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock valued at $148,000 after acquiring an additional 3,457 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Tactile Systems Technology by 10,882.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock valued at $213,000 after acquiring an additional 7,400 shares in the last quarter. Koch Industries Inc. purchased a new position in shares of Tactile Systems Technology during the 2nd quarter valued at $217,000. Finally, White Pine Capital LLC purchased a new position in shares of Tactile Systems Technology during the 2nd quarter valued at $254,000. Institutional investors and hedge funds own 71.68% of the company’s stock.

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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.

Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

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