BidaskClub upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.
Several other analysts have also commented on TCMD. Canaccord Genuity increased their price objective on Tactile Systems Technology from $56.00 to $60.00 and gave the company a buy rating in a report on Monday, June 25th. Northland Securities lowered Tactile Systems Technology from a market perform rating to an under perform rating in a report on Monday, June 4th. BTIG Research lowered 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 increased their price objective on Tactile Systems Technology to $53.00 and gave the company an overweight rating in a report on Friday, June 1st. Finally, Zacks Investment Research lowered Tactile Systems Technology from a strong-buy rating to a hold rating in a report on Friday, May 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $48.30.
Shares of Tactile Systems Technology opened at $56.08 on Friday, according to Marketbeat. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 267.05, a P/E/G ratio of 7.71 and a beta of 0.86. Tactile Systems Technology has a 12-month low of $22.72 and a 12-month high of $57.60.
In other news, COO Robert J. Folkes sold 3,044 shares of the stock in a transaction on Tuesday, April 10th. The stock was sold at an average price of $31.90, for a total transaction of $97,103.60. Following the completion of the sale, the chief operating officer now owns 122,447 shares in the company, valued at approximately $3,906,059.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William W. Burke sold 700 shares of the stock in a transaction on Monday, May 14th. The shares were sold at an average price of $45.86, for a total value of $32,102.00. Following the sale, the director now owns 7,679 shares of the company’s stock, valued at approximately $352,158.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,494 shares of company stock valued at $4,488,356. Company insiders own 8.70% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC purchased a new position in Tactile Systems Technology in the 4th quarter worth $139,000. Municipal Employees Retirement System of Michigan purchased a new position in Tactile Systems Technology in the 4th quarter worth $158,000. Rehmann Capital Advisory Group purchased a new position in Tactile Systems Technology in the 4th quarter worth $218,000. Brown Advisory Inc. purchased a new position in Tactile Systems Technology in the 1st quarter worth $250,000. Finally, Barclays PLC raised its stake in Tactile Systems Technology by 172.8% in the 1st quarter. Barclays PLC now owns 8,739 shares of the company’s stock worth $277,000 after acquiring an additional 5,535 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.
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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