Tactile Systems Technology, Inc. (NASDAQ:TCMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, June 10th. The brokerage currently has a $28.00 price objective on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 6.38% from the company’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. “
TCMD has been the topic of several other research reports. Canaccord Genuity reissued a “buy” rating on shares of Tactile Systems Technology in a research report on Tuesday, February 28th. BTIG Research reissued a “buy” rating and set a $26.00 target price on shares of Tactile Systems Technology in a research report on Friday, March 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $24.00.
Shares of Tactile Systems Technology (TCMD) opened at 26.32 on Friday. The company has a market cap of $445.86 million and a price-to-earnings ratio of 237.12. Tactile Systems Technology has a 52-week low of $10.00 and a 52-week high of $26.99. The stock has a 50 day moving average of $23.17 and a 200 day moving average of $18.55.
Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, May 8th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.05. Tactile Systems Technology had a return on equity of 4.82% and a net margin of 2.24%. 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 company earned ($0.45) EPS. The business’s quarterly revenue was up 44.9% on a year-over-year basis. On average, equities research analysts expect that Tactile Systems Technology will post $0.13 EPS for the current year.
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In related news, COO Robert J. Folkes sold 1,500 shares of Tactile Systems Technology stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $17.59, for a total value of $26,385.00. Following the sale, the chief operating officer now directly owns 125,167 shares in the company, valued at $2,201,687.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Maggie Thompson sold 40,103 shares of Tactile Systems Technology stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $25.27, for a total value of $1,013,402.81. Following the transaction, the vice president now directly owns 69,936 shares of the company’s stock, valued at $1,767,282.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,015,384 shares of company stock worth $23,815,506. 49.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Driehaus Capital Management LLC boosted its position in shares of Tactile Systems Technology by 32.1% in the first quarter. Driehaus Capital Management LLC now owns 427,166 shares of the company’s stock valued at $8,095,000 after buying an additional 103,890 shares in the last quarter. Ranger Investment Management L.P. purchased a new position in shares of Tactile Systems Technology during the first quarter valued at about $1,261,000. Bank of America Corp DE boosted 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 buying an additional 6,409 shares in the last quarter. Renaissance Technologies LLC bought a new position in Tactile Systems Technology during the first quarter worth $2,789,000. Finally, Geode Capital Management LLC boosted its position in Tactile Systems Technology by 17.2% in the first quarter. Geode Capital Management LLC now owns 70,704 shares of the company’s stock worth $1,339,000 after buying an additional 10,377 shares during the period. 30.66% of the stock is owned by hedge funds and other institutional investors.
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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