Tactile Systems Technology, Inc. (TCMD) Upgraded at Zacks Investment Research

Tactile Systems Technology, Inc. (NASDAQ:TCMD) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday, November 10th. The firm presently has a $28.00 price target on the stock. Zacks Investment Research‘s target price points to a potential upside of 0.32% from the stock’s current price.

According to Zacks, “Tactile Systems Technology, Inc. is a medical technology company which develops medical devices for the treatment of chronic diseases at home. The company’s product pipeline consists of Flexitouch System(R), the Entré System and the ACTitouch System (R). Tactile Systems Technology, Inc. is headquartered in Minneapolis, Minnesota. “

Several other analysts also recently issued reports on the company. Canaccord Genuity reissued a “buy” rating and set a $37.00 target price (up previously from $28.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 8th. Guggenheim started coverage on Tactile Systems Technology in a research note on Thursday, October 12th. They set a “buy” rating and a $47.00 target price on the stock. BTIG Research raised Tactile Systems Technology from a “neutral” rating to a “buy” rating in a research note on Thursday, November 9th. They noted that the move was a valuation call. Northland Securities reissued a “hold” rating and set a $31.50 target price on shares of Tactile Systems Technology in a research note on Monday, October 16th. Finally, ValuEngine raised Tactile Systems Technology from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Tactile Systems Technology has an average rating of “Buy” and a consensus price target of $34.25.

Shares of Tactile Systems Technology (NASDAQ:TCMD) opened at $27.91 on Friday. The company has a market capitalization of $476.53, a PE ratio of 179.47, a P/E/G ratio of 4.41 and a beta of -0.57. Tactile Systems Technology has a twelve month low of $14.37 and a twelve month high of $37.88.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $27.66 million. During the same period last year, the firm posted $0.01 earnings per share. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. equities analysts expect that Tactile Systems Technology will post 0.31 EPS for the current year.

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In related news, VP Bryan Rishe sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $32.77, for a total transaction of $49,155.00. Following the transaction, the vice president now directly owns 111,307 shares of the company’s stock, valued at approximately $3,647,530.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gerald R. Mattys sold 40,000 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $27.00, for a total value of $1,080,000.00. Following the completion of the sale, the chief executive officer now owns 334,013 shares in the company, valued at approximately $9,018,351. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,108,660 shares of company stock valued at $34,152,506. 49.90% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of TCMD. JPMorgan Chase & Co. lifted its position in shares of Tactile Systems Technology by 39.3% in the second 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. Bank of America Corp DE lifted its position in shares of Tactile Systems Technology by 1,118.5% in the first quarter. Bank of America Corp DE now owns 6,982 shares of the company’s stock valued at $133,000 after acquiring an additional 6,409 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Tactile Systems Technology in the second quarter valued at approximately $146,000. Nationwide Fund Advisors lifted its position in shares of Tactile Systems Technology by 201.8% in the second 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. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Tactile Systems Technology by 10,882.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock valued at $213,000 after purchasing an additional 7,400 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

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.

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