Tactile Systems Technology (TCMD) Upgraded 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 Saturday.

TCMD has been the subject of a number of other reports. Guggenheim initiated coverage on Tactile Systems Technology in a research note on Thursday, October 12th. They set a “buy” rating and a $47.00 price objective for the company. Northland Securities assumed coverage on Tactile Systems Technology in a research note on Tuesday, October 17th. They set a “market perform” rating for 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 for the company in a research note on Friday, November 10th. Sidoti assumed coverage on Tactile Systems Technology in a research note on Friday, December 8th. They issued a “neutral” rating for the company. Finally, Canaccord Genuity reissued a “buy” rating and issued a $37.00 target price on shares of Tactile Systems Technology in a research note on Wednesday, January 3rd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $34.25.

Shares of Tactile Systems Technology (TCMD) opened at $31.15 on Friday. Tactile Systems Technology has a 52 week low of $14.37 and a 52 week high of $37.88. The company has a market capitalization of $523.80, a price-to-earnings ratio of 100.48, a P/E/G ratio of 6.62 and a beta of -0.60.

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

In other Tactile Systems Technology news, CEO Gerald R. Mattys sold 6,150 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $29.23, for a total value of $179,764.50. Following the completion of the transaction, the chief executive officer now directly owns 303,181 shares of the company’s stock, valued at $8,861,980.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Bryan Rishe sold 1,500 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $29.54, for a total value of $44,310.00. Following the completion of the transaction, the senior vice president now directly owns 100,807 shares of the company’s stock, valued at $2,977,838.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 188,695 shares of company stock valued at $5,314,541. Insiders own 49.90% of the company’s stock.

A number of large investors have recently bought and sold shares of TCMD. Schwab Charles Investment Management Inc. acquired a new position in Tactile Systems Technology in the second quarter valued at about $441,000. Rhumbline Advisers acquired a new position in shares of Tactile Systems Technology during the second quarter worth about $267,000. Bank of New York Mellon Corp boosted its position in shares of Tactile Systems Technology by 452.4% during the second quarter. Bank of New York Mellon Corp now owns 76,255 shares of the company’s stock worth $2,180,000 after buying an additional 62,450 shares during the period. JPMorgan Chase & Co. boosted 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 buying an additional 1,252 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Tactile Systems Technology by 42.7% during the second quarter. Wells Fargo & Company MN now owns 84,725 shares of the company’s stock worth $2,422,000 after buying an additional 25,336 shares during the period. 72.19% of the stock is owned by hedge funds and other institutional investors.

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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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