Tactile Systems Technology (TCMD) Rating Lowered to Buy at BidaskClub

Tactile Systems Technology (NASDAQ:TCMD) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research firms have also recently commented on TCMD. BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Monday, June 4th. They noted that the move was a valuation call. Northland Securities cut shares of Tactile Systems Technology from a “market perform” rating to an “under perform” rating in a report on Monday, June 4th. Canaccord Genuity restated a “buy” rating and set a $65.00 price target (up from $60.00) on shares of Tactile Systems Technology in a report on Tuesday, August 7th. TheStreet cut shares of Tactile Systems Technology from a “c+” rating to a “d+” rating in a report on Monday, August 20th. Finally, Zacks Investment Research cut shares of Tactile Systems Technology from a “hold” rating to a “sell” rating in a report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $56.10.

Tactile Systems Technology stock opened at $63.91 on Friday. Tactile Systems Technology has a 12 month low of $22.72 and a 12 month high of $72.41. The firm has a market cap of $1.17 billion, a PE ratio of 199.72, a P/E/G ratio of 9.00 and a beta of 1.03.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Monday, August 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.04 by $0.09. Tactile Systems Technology had a net margin of 4.91% and a return on equity of 8.41%. The business had revenue of $34.10 million for the quarter, compared to analysts’ expectations of $31.49 million. During the same period in the previous year, the company posted $0.20 EPS. Tactile Systems Technology’s revenue was up 29.7% on a year-over-year basis. sell-side analysts predict that Tactile Systems Technology will post 0.32 earnings per share for the current year.

In related news, CEO Gerald R. Mattys sold 25,000 shares of Tactile Systems Technology stock in a transaction on Tuesday, July 17th. The shares were sold at an average price of $54.50, for a total value of $1,362,500.00. Following the completion of the sale, the chief executive officer now owns 319,129 shares of the company’s stock, valued at approximately $17,392,530.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Bryan Rishe sold 3,000 shares of Tactile Systems Technology stock in a transaction on Monday, July 16th. The shares were sold at an average price of $52.49, for a total transaction of $157,470.00. Following the completion of the sale, the senior vice president now directly owns 79,328 shares of the company’s stock, valued at approximately $4,163,926.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,140 shares of company stock valued at $7,479,179. 8.70% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in TCMD. SG Americas Securities LLC acquired a new stake in shares of Tactile Systems Technology in the 2nd quarter valued at $175,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Tactile Systems Technology in the 2nd quarter valued at $182,000. Tealwood Asset Management Inc. acquired a new stake in shares of Tactile Systems Technology in the 2nd quarter valued at $208,000. Engineers Gate Manager LP acquired a new stake in shares of Tactile Systems Technology in the 2nd quarter valued at $208,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Tactile Systems Technology in the 2nd quarter valued at $208,000. 95.65% of the stock is owned by institutional investors and hedge funds.

About Tactile Systems Technology

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of chronic diseases in the United States. The company offers proprietary Flexitouch system, an at-home solution for lymphedema patients; and ACTitouch system, a home-based solution for chronic venous insufficiency patients.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

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