BTIG Research upgraded shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) from a neutral rating to a buy rating in a research note published on Thursday, Marketbeat.com reports. The analysts noted that the move was a valuation call.
Several other research analysts have also recently weighed in on TCMD. Zacks Investment Research cut Tactile Systems Technology from a buy rating to a hold rating in a research report on Thursday, July 13th. ValuEngine raised Tactile Systems Technology from a sell rating to a hold rating in a research report on Friday, July 28th. Piper Jaffray Companies increased their price target on Tactile Systems Technology from $30.00 to $36.00 and gave the company an overweight rating in a research report on Tuesday, August 8th. Canaccord Genuity reissued a buy rating and set a $37.00 price target (up from $28.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 8th. Finally, Guggenheim assumed coverage on Tactile Systems Technology in a research report on Thursday, October 12th. They set a buy rating and a $47.00 price target for the company. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $34.25.
Tactile Systems Technology (NASDAQ TCMD) traded down $0.20 during mid-day trading on Thursday, hitting $25.23. The stock had a trading volume of 255,500 shares, compared to its average volume of 306,416. The firm has a market capitalization of $446.62, a PE ratio of 168.20, a P/E/G ratio of 4.85 and a beta of -0.57. Tactile Systems Technology has a 52 week low of $14.37 and a 52 week high of $37.88.
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. The company had revenue of $28.28 million during the quarter, compared to analysts’ expectations of $27.66 million. Tactile Systems Technology had a return on equity of 4.75% and a net margin of 5.84%. Tactile Systems Technology’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 earnings per share. equities analysts predict that Tactile Systems Technology will post 0.26 EPS for the current year.
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In related news, VP Bryan Rishe sold 1,500 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $27.21, for a total transaction of $40,815.00. Following the completion of the transaction, the vice president now directly owns 105,307 shares of the company’s stock, valued at $2,865,403.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gerald R. Mattys sold 30,000 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $31.47, for a total value of $944,100.00. Following the transaction, the chief executive officer now directly owns 327,885 shares of the company’s stock, valued at $10,318,540.95. The disclosure for this sale can be found here. Insiders have sold 1,078,547 shares of company stock valued at $33,504,374 over the last three months. Insiders own 49.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Peregrine Capital Management LLC bought a new stake in Tactile Systems Technology in the third quarter valued at approximately $16,984,000. Russell Investments Group Ltd. raised its stake in Tactile Systems Technology by 12.2% in the third quarter. Russell Investments Group Ltd. now owns 522,050 shares of the company’s stock valued at $16,157,000 after buying an additional 56,565 shares during the period. Gilder Gagnon Howe & Co. LLC raised its stake in Tactile Systems Technology by 6.8% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 466,903 shares of the company’s stock valued at $14,451,000 after buying an additional 29,912 shares during the period. Vanguard Group Inc. raised its stake in Tactile Systems Technology by 18.8% in the second quarter. Vanguard Group Inc. now owns 376,161 shares of the company’s stock valued at $10,750,000 after buying an additional 59,595 shares during the period. Finally, Lord Abbett & CO. LLC raised its stake in Tactile Systems Technology by 108.3% in the second quarter. Lord Abbett & CO. LLC now owns 371,980 shares of the company’s stock valued at $10,631,000 after buying an additional 193,429 shares during the period. Hedge funds and other institutional investors own 48.53% of the company’s stock.
About Tactile Systems Technology
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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