BidaskClub upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.
A number of other equities research analysts have also recently commented on TCMD. Zacks Investment Research upgraded Tactile Systems Technology from a sell rating to a hold rating in a research note on Wednesday, March 14th. ValuEngine upgraded Tactile Systems Technology from a hold rating to a buy rating in a research note on Wednesday, May 2nd. Piper Jaffray Companies lifted their target price on Tactile Systems Technology to $44.00 and gave the stock an outperform rating in a research note on Monday, May 7th. BTIG Research cut Tactile Systems Technology from a buy rating to a neutral rating in a research note on Monday, June 4th. They noted that the move was a valuation call. Finally, Northland Securities cut Tactile Systems Technology from a market perform rating to an under perform rating in a research note on Monday, June 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Tactile Systems Technology has an average rating of Buy and a consensus target price of $48.30.
Get Tactile Systems Technology alerts:Tactile Systems Technology opened at $55.44 on Friday, according to Marketbeat.com. The firm has a market cap of $1.01 billion, a PE ratio of 264.00, a price-to-earnings-growth ratio of 7.79 and a beta of 0.87. Tactile Systems Technology has a one year low of $22.72 and a one year high of $57.60.
Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, May 7th. The company reported $0.00 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.13. The company had revenue of $26.85 million for the quarter, compared to analysts’ expectations of $23.72 million. Tactile Systems Technology had a return on equity of 7.86% and a net margin of 6.29%. The business’s revenue for the quarter was up 35.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) EPS. research analysts predict that Tactile Systems Technology will post 0.36 earnings per share for the current fiscal year.
In related news, Director William W. Burke sold 700 shares of Tactile Systems Technology stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $45.86, for a total value of $32,102.00. Following the completion of the sale, the director now owns 7,679 shares of the company’s stock, valued at approximately $352,158.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gerald R. Mattys sold 20,000 shares of Tactile Systems Technology stock in a transaction dated Tuesday, June 26th. The stock was sold at an average price of $54.38, for a total value of $1,087,600.00. The disclosure for this sale can be found here. In the last three months, insiders sold 87,450 shares of company stock valued at $4,391,253. 8.70% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. MetLife Investment Advisors LLC purchased a new stake in Tactile Systems Technology in the 4th quarter worth about $139,000. Municipal Employees Retirement System of Michigan purchased a new stake in Tactile Systems Technology in the 4th quarter worth about $158,000. Rehmann Capital Advisory Group purchased a new stake in Tactile Systems Technology in the 4th quarter worth about $218,000. Brown Advisory Inc. purchased a new stake in Tactile Systems Technology in the 1st quarter worth about $250,000. Finally, Barclays PLC increased its holdings in Tactile Systems Technology by 172.8% in the 1st quarter. Barclays PLC now owns 8,739 shares of the company’s stock worth $277,000 after acquiring an additional 5,535 shares during the last quarter. 92.03% of the stock is owned by institutional investors.
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.
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