Tactile Systems Technology Inc (TCMD) Given Average Recommendation of “Buy” by Brokerages

Shares of Tactile Systems Technology Inc (NASDAQ:TCMD) have earned a consensus rating of “Buy” from the nine research firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $37.00.

A number of equities research analysts recently issued reports on the stock. Northland Securities restated a “hold” rating and issued a $31.50 target price on shares of Tactile Systems Technology in a report on Monday, October 16th. BidaskClub upgraded shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Investment Research downgraded shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Guggenheim assumed coverage on shares of Tactile Systems Technology in a report on Thursday, October 12th. They issued a “buy” rating and a $47.00 target price for the company. Finally, Canaccord Genuity restated a “buy” rating and issued a $37.00 target price on shares of Tactile Systems Technology in a report on Wednesday, January 3rd.

In other Tactile Systems Technology news, COO Robert J. Folkes sold 4,455 shares of Tactile Systems Technology stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $28.32, for a total transaction of $126,165.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Bryan Rishe sold 1,500 shares of Tactile Systems Technology stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $27.21, for a total transaction of $40,815.00. Following the transaction, the vice president now directly owns 105,307 shares in the company, valued at $2,865,403.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 188,695 shares of company stock worth $5,314,541. 49.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of Tactile Systems Technology by 39.3% during the second quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock worth $127,000 after purchasing an additional 1,252 shares in the last quarter. Nationwide Fund Advisors lifted its position in shares of Tactile Systems Technology by 201.8% during the second quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock worth $148,000 after purchasing an additional 3,457 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Tactile Systems Technology by 10,882.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock worth $213,000 after purchasing an additional 7,400 shares in the last quarter. Koch Industries Inc. acquired a new position in shares of Tactile Systems Technology during the second quarter worth $217,000. Finally, Alliancebernstein L.P. acquired a new position in shares of Tactile Systems Technology during the second quarter worth $266,000. 72.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Tactile Systems Technology (TCMD) opened at $31.15 on Friday. Tactile Systems Technology has a twelve month low of $14.37 and a twelve month high of $37.88. The stock has a market cap of $523.80, a P/E ratio of 100.48, a P/E/G ratio of 6.62 and a beta of -0.60.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $27.66 million. During the same period in the previous year, the firm earned $0.01 earnings per share. Tactile Systems Technology’s revenue was up 25.0% compared to the same quarter last year. analysts forecast that Tactile Systems Technology will post 0.34 EPS for the current fiscal year.

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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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