Equities research analysts at Sidoti started coverage on shares of Tactile Systems Technology (NASDAQ:TCMD) in a report released on Friday. The brokerage set a “neutral” rating on the stock.
TCMD has been the topic of several other reports. Zacks Investment Research raised Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Thursday, August 10th. BTIG Research lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Monday, September 18th. Guggenheim began coverage on Tactile Systems Technology in a report on Thursday, October 12th. They issued a “buy” rating and a $47.00 price objective on the stock. Finally, Northland Securities began coverage on Tactile Systems Technology in a report on Tuesday, October 17th. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $34.25.
Tactile Systems Technology (TCMD) traded up $0.34 during trading on Friday, reaching $27.00. The company had a trading volume of 205,500 shares, compared to its average volume of 203,969. The firm has a market capitalization of $482.55 and a price-to-earnings ratio of 177.73. Tactile Systems Technology has a 12-month low of $14.37 and a 12-month high of $37.88.
Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Tactile Systems Technology had a return on equity of 4.75% and a net margin of 5.84%. The company had revenue of $28.28 million for the quarter, compared to analyst estimates of $27.66 million. During the same period last year, the company earned $0.01 earnings per share. Tactile Systems Technology’s quarterly revenue was up 25.0% compared to the same quarter last year. research analysts predict that Tactile Systems Technology will post 0.31 EPS for the current year.
In related news, Director William W. Burke sold 2,000 shares of Tactile Systems Technology stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $28.86, for a total transaction of $57,720.00. Following the transaction, the director now owns 6,306 shares in the company, valued at $181,991.16. The sale was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $32.86, for a total value of $49,290.00. Following the transaction, the vice president now owns 109,807 shares in the company, valued at approximately $3,608,258.02. The disclosure for this sale can be found here. Insiders sold 1,083,105 shares of company stock worth $33,303,611 over the last ninety days. Corporate insiders own 49.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in Tactile Systems Technology by 39.3% in the second quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock valued at $127,000 after purchasing an additional 1,252 shares during the period. Bank of Montreal Can purchased a new stake in Tactile Systems Technology in the second quarter valued at $146,000. Nationwide Fund Advisors raised its position in Tactile Systems Technology by 201.8% in the second 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 during the period. Bank of America Corp DE raised its position in Tactile Systems Technology by 1,118.5% in the first 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 during the period. Finally, The Manufacturers Life Insurance Company raised its position in Tactile Systems Technology by 10,882.4% in the second 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 during the period. Hedge funds and other institutional investors own 71.68% of the company’s stock.
About Tactile Systems Technology
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.
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