Tactile Systems Technology (NASDAQ:TCMD) Rating Lowered to “Buy” at Wall Street Zen

Tactile Systems Technology (NASDAQ:TCMD) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Several other equities analysts have also issued reports on TCMD. B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $32.00 to $36.00 in a report on Thursday, May 7th. BTIG Research dropped their target price on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Tactile Systems Technology in a research note on Monday, August 3rd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.40.

Tactile Systems Technology Price Performance

TCMD stock opened at $24.20 on Friday. The business has a 50-day moving average price of $28.08 and a 200 day moving average price of $26.90. The company has a market capitalization of $548.13 million, a P/E ratio of 22.41 and a beta of 0.81. Tactile Systems Technology has a 1-year low of $12.25 and a 1-year high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.20. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. The company had revenue of $85.70 million for the quarter, compared to analysts’ expectations of $85.52 million. On average, analysts anticipate that Tactile Systems Technology will post 1.07 earnings per share for the current fiscal year.

Insider Activity at Tactile Systems Technology

In other news, CEO Sheri Louise Dodd sold 10,978 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.44, for a total value of $323,192.32. Following the sale, the chief executive officer owned 232,907 shares in the company, valued at $6,856,782.08. This represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is owned by company insiders.

Institutional Trading of Tactile Systems Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its stake in shares of Tactile Systems Technology by 1,594.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after purchasing an additional 1,993 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Tactile Systems Technology in the fourth quarter valued at $32,000. Quarry LP increased its holdings in Tactile Systems Technology by 302.6% in the third quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after buying an additional 1,743 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Tactile Systems Technology in the fourth quarter worth about $36,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Tactile Systems Technology in the fourth quarter worth about $37,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, headquartered in Plymouth, Minnesota, is a medical device company specializing in the design, manufacture and marketing of home-use pneumatic compression therapy systems for the treatment of lymphedema and other chronic edema-related conditions. Using proprietary software and patented pump technologies, the company’s platforms are designed to improve patient outcomes through sequential pressure treatment that promotes fluid mobilization and enhanced lymphatic function.

At the core of Tactile Systems’ product portfolio is the Flexitouch® system, a programmable pneumatic pump and garment system approved for home use, and the Aria® device, which features an intuitive touchscreen interface and advanced garment design.