Tactile Systems Technology (TCMD) Rating Increased to Strong-Buy at BidaskClub

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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.

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, beating the consensus estimate of ($0.13) by $0.13. The business had revenue of $26.85 million for the quarter, compared to analysts’ expectations of $23.72 million. Tactile Systems Technology had a return on equity of 7.86% and a net margin of 6.29%. The business’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS. equities research analysts forecast that Tactile Systems Technology will post 0.36 earnings per share for the current fiscal year.

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.

Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

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