Tactile Systems Technology (NASDAQ:TCMD) Stock Price Target Cut by BTIG Research

Tactile Systems Technology (NASDAQ:TCMD) had its price objective lowered by equities researchers at BTIG Research from $39.00 to $35.00 in a note issued to investors on Monday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 56.88% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Weiss Ratings cut Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, September 28th. Wall Street Zen raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 26th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.60.

Tactile Systems Technology Trading Down 1.4%

Shares of TCMD opened at $22.31 on Monday. The firm has a market capitalization of $505.32 million, a P/E ratio of 20.94 and a beta of 0.82. The stock’s fifty day simple moving average is $23.30 and its 200 day simple moving average is $25.27. Tactile Systems Technology has a twelve month low of $14.00 and a twelve month high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.20. The firm had revenue of $85.70 million during the quarter, compared to the consensus estimate of $85.52 million. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%. Sell-side analysts predict that Tactile Systems Technology will post 1.10 earnings per share for the current year.

Insider Activity at Tactile Systems Technology

In related news, CEO Sheri Dodd sold 10,978 shares of Tactile Systems Technology stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the transaction, the chief executive officer owned 232,907 shares in the company, valued at approximately $6,856,782.08. The trade was a 4.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Tactile Systems Technology

Several large investors have recently added to or reduced their stakes in the stock. USA Financial Formulas acquired a new position in shares of Tactile Systems Technology during the first quarter worth $71,000. Summit Securities Group LLC purchased a new position in shares of Tactile Systems Technology in the first quarter valued at $75,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Tactile Systems Technology in the fourth quarter valued at $91,000. Versant Capital Management Inc grew its holdings in Tactile Systems Technology by 36.4% during the 2nd quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock valued at $98,000 after purchasing an additional 876 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Tactile Systems Technology during the 2nd quarter valued at $101,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, doing business as Tactile Medical, is a medical technology company focused on developing, manufacturing and distributing devices for people with chronic swelling and respiratory conditions. Its products are intended for use in the home and are commonly prescribed by health care professionals as part of ongoing disease-management programs.

The company’s core products include the Flexitouch pneumatic compression system, designed to support the treatment of lymphedema and related conditions, and the Entre system, which provides pneumatic compression therapy for the upper and lower extremities.