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 “buy” rating in a research note issued on Saturday, June 10th. The firm presently has a $28.00 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 6.38% from the stock’s previous close.

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. “

Other analysts have also issued research reports about the stock. BTIG Research reiterated a “buy” rating and issued a $26.00 target price on shares of Tactile Systems Technology in a research report on Friday, March 10th. Canaccord Genuity restated a “buy” rating on shares of Tactile Systems Technology in a research report on Tuesday, February 28th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $24.00.

Tactile Systems Technology (NASDAQ:TCMD) traded up 5.45% during trading on Friday, hitting $26.32. The stock had a trading volume of 327,405 shares. Tactile Systems Technology has a 1-year low of $10.00 and a 1-year high of $26.99. The stock’s 50-day moving average price is $23.17 and its 200-day moving average price is $18.55. The company has a market capitalization of $445.86 million and a P/E ratio of 237.12.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. Tactile Systems Technology had a net margin of 2.24% and a return on equity of 4.82%. The business had revenue of $19.85 million for the quarter, compared to analyst estimates of $16.17 million. During the same quarter last year, the business earned ($0.45) earnings per share. The company’s revenue for the quarter was up 44.9% compared to the same quarter last year. Analysts expect that Tactile Systems Technology will post $0.13 earnings per share for the current year.

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In other Tactile Systems Technology news, VP Mary E. Anderson sold 9,503 shares of Tactile Systems Technology stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $19.43, for a total transaction of $184,643.29. Following the transaction, the vice president now directly owns 53,477 shares of the company’s stock, valued at $1,039,058.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Maggie Thompson sold 40,103 shares of Tactile Systems Technology stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $25.27, for a total transaction of $1,013,402.81. Following the transaction, the vice president now directly owns 69,936 shares in the company, valued at $1,767,282.72. The disclosure for this sale can be found here. Insiders have sold 1,015,384 shares of company stock worth $23,815,506 over the last 90 days. 49.90% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased 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 worth $133,000 after buying an additional 6,409 shares during the period. Trexquant Investment LP purchased a new position in shares of Tactile Systems Technology during the first quarter worth approximately $224,000. Bank of New York Mellon Corp increased its position in shares of Tactile Systems Technology by 33.7% in the first quarter. Bank of New York Mellon Corp now owns 13,805 shares of the company’s stock worth $262,000 after buying an additional 3,480 shares during the period. Menta Capital LLC purchased a new position in shares of Tactile Systems Technology during the first quarter worth approximately $320,000. Finally, Murphy Pohlad Asset Management LLC purchased a new position in shares of Tactile Systems Technology during the first quarter worth approximately $340,000. 30.66% of the stock is currently owned by institutional investors.

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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