Tactile Systems Technology Inc (NASDAQ:TCMD) hit a new 52-week high and low on Tuesday . The company traded as low as $52.69 and last traded at $52.04, with a volume of 9321 shares. The stock had previously closed at $51.17.
A number of equities research analysts have weighed in on TCMD shares. BTIG Research downgraded 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. Piper Jaffray Companies lifted their target price on Tactile Systems Technology to $53.00 and gave the company an “overweight” rating in a research report on Friday, June 1st. Northland Securities cut Tactile Systems Technology from a “market perform” rating to an “under perform” rating in a research report on Monday, June 4th. Zacks Investment Research raised Tactile Systems Technology from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective on the stock in a research report on Thursday, May 10th. Finally, BidaskClub raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Tactile Systems Technology presently has an average rating of “Buy” and a consensus target price of $44.70.
The firm has a market capitalization of $928.47 million, a price-to-earnings ratio of 261.95, a P/E/G ratio of 7.13 and a beta of 0.85.
Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, May 7th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.13. Tactile Systems Technology had a return on equity of 7.86% and a net margin of 6.29%. The firm had revenue of $26.85 million during the quarter, compared to analyst estimates of $23.72 million. During the same quarter in the prior year, the company earned ($0.09) EPS. The business’s revenue was up 35.3% compared to the same quarter last year. research analysts anticipate that Tactile Systems Technology Inc will post 0.36 earnings per share for the current year.
In other 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 sale, the director now directly owns 7,679 shares of the company’s stock, valued at $352,158.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert J. Folkes sold 3,044 shares of Tactile Systems Technology stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $49.78, for a total value of $151,530.32. Following the completion of the sale, the chief operating officer now directly owns 121,280 shares in the company, valued at $6,037,318.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,544 shares of company stock worth $1,529,574. Company insiders own 8.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. boosted its position in shares of Tactile Systems Technology by 27.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 61,327 shares of the company’s stock valued at $1,778,000 after buying an additional 13,315 shares during the period. Texas Permanent School Fund purchased a new stake in shares of Tactile Systems Technology in the fourth quarter valued at approximately $284,000. Comerica Bank purchased a new stake in Tactile Systems Technology during the fourth quarter worth $460,000. California Public Employees Retirement System lifted its holdings in Tactile Systems Technology by 60.8% during the fourth quarter. California Public Employees Retirement System now owns 15,678 shares of the company’s stock worth $454,000 after buying an additional 5,931 shares during the period. Finally, Swiss National Bank purchased a new stake in Tactile Systems Technology during the fourth quarter worth $696,000. 92.03% of the stock is currently owned by institutional investors.
Tactile Systems Technology Company Profile
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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