Tactile Systems Technology (TCMD) Coverage Initiated at Sidoti

Investment analysts at Sidoti began coverage on shares of Tactile Systems Technology (NASDAQ:TCMD) in a research note issued to investors on Friday. The brokerage set a “neutral” rating on the stock.

TCMD has been the subject of several other research reports. Zacks Investment Research upgraded shares of Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Thursday, August 10th. BTIG Research lowered shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Monday, September 18th. Guggenheim began coverage on shares of Tactile Systems Technology in a research note on Thursday, October 12th. They set a “buy” rating and a $47.00 price target for the company. Finally, Northland Securities began coverage on shares of Tactile Systems Technology in a research note on Tuesday, October 17th. They set a “market perform” rating for the company. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $34.25.

Shares of Tactile Systems Technology (NASDAQ:TCMD) opened at $27.53 on Friday. Tactile Systems Technology has a one year low of $14.37 and a one year high of $37.88. The stock has a market cap of $477.95, a P/E ratio of 180.00, a PEG ratio of 4.43 and a beta of -0.69.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The company had revenue of $28.28 million during the quarter, compared to analyst estimates of $27.66 million. During the same quarter last year, the business posted $0.01 EPS. Tactile Systems Technology’s quarterly revenue was up 25.0% compared to the same quarter last year. analysts forecast that Tactile Systems Technology will post 0.31 earnings per share for the current year.

In related news, major shareholder Radius Venture Partners Iii, L sold 1,000,500 shares of Tactile Systems Technology stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $31.02, for a total value of $31,035,510.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Bryan Rishe sold 1,500 shares of Tactile Systems Technology stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $32.86, for a total transaction of $49,290.00. Following the completion of the transaction, the vice president now owns 109,807 shares of the company’s stock, valued at $3,608,258.02. The disclosure for this sale can be found here. Insiders sold a total of 1,084,605 shares of company stock valued at $33,344,231 over the last quarter. 49.90% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in Tactile Systems Technology by 39.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock valued at $127,000 after buying an additional 1,252 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Tactile Systems Technology during the 2nd quarter valued at $146,000. Nationwide Fund Advisors grew its position in shares of Tactile Systems Technology by 201.8% during the 2nd quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock valued at $148,000 after purchasing an additional 3,457 shares in the last quarter. Bank of America Corp DE grew its position in shares of Tactile Systems Technology by 1,118.5% during the 1st quarter. Bank of America Corp DE now owns 6,982 shares of the company’s stock valued at $133,000 after purchasing an additional 6,409 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Tactile Systems Technology by 10,882.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock valued at $213,000 after purchasing an additional 7,400 shares in the last quarter. Institutional investors and hedge funds own 71.68% of the company’s stock.

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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.

Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

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