Tactile Systems Technology, Inc. (TCMD) Upgraded by Zacks Investment Research to “Strong-Buy”

Zacks Investment Research upgraded shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) from a hold rating to a strong-buy rating in a research report sent to investors on Friday. The brokerage currently has $28.00 price target on the stock.

According to Zacks, “Tactile Systems Technology, Inc. is a medical technology company which develops medical devices for the treatment of chronic diseases at home. The company’s product pipeline consists of Flexitouch System(R), the Entré System and the ACTitouch System (R). Tactile Systems Technology, Inc. is headquartered in Minneapolis, Minnesota. “

A number of other research analysts have also recently commented on the stock. Guggenheim initiated coverage on shares of Tactile Systems Technology in a research report on Thursday, October 12th. They issued a buy rating and a $47.00 target price on the stock. BTIG Research cut shares of Tactile Systems Technology from a buy rating to a neutral rating in a research report on Monday, September 18th. ValuEngine raised shares of Tactile Systems Technology from a sell rating to a hold rating in a research report on Friday, July 28th. Northland Securities initiated coverage on shares of Tactile Systems Technology in a research report on Tuesday, October 17th. They issued a market perform rating on the stock. Finally, Piper Jaffray Companies upped their target price on shares of Tactile Systems Technology from $30.00 to $36.00 and gave the company an overweight rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $34.25.

Tactile Systems Technology (NASDAQ TCMD) traded down $0.20 during midday trading on Friday, reaching $25.23. 255,500 shares of the company’s stock were exchanged, compared to its average volume of 306,416. Tactile Systems Technology has a 52 week low of $14.37 and a 52 week high of $37.88. The firm has a market capitalization of $446.62, a PE ratio of 168.20, a P/E/G ratio of 4.85 and a beta of -0.57.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to analysts’ expectations of $27.66 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. Tactile Systems Technology’s revenue for the quarter was up 25.0% compared to the same quarter last year. sell-side analysts expect that Tactile Systems Technology will post 0.26 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at https://sportsperspectives.com/2017/11/12/tactile-systems-technology-inc-tcmd-upgraded-by-zacks-investment-research-to-strong-buy.html.

In other news, VP Bryan Rishe sold 1,500 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $33.57, for a total transaction of $50,355.00. Following the sale, the vice president now owns 112,807 shares of the company’s stock, valued at $3,786,930.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gerald R. Mattys sold 30,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $31.47, for a total transaction of $944,100.00. Following the sale, the chief executive officer now directly owns 327,885 shares in the company, valued at approximately $10,318,540.95. The disclosure for this sale can be found here. Insiders have sold 1,078,547 shares of company stock worth $33,504,374 in the last three months. Corporate insiders own 49.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in shares of Tactile Systems Technology by 63.9% during the third quarter. Wells Fargo & Company MN now owns 138,899 shares of the company’s stock worth $4,299,000 after purchasing an additional 54,174 shares in the last quarter. Cadence Capital Management LLC lifted its position in shares of Tactile Systems Technology by 5.1% during the third quarter. Cadence Capital Management LLC now owns 46,436 shares of the company’s stock worth $1,437,000 after purchasing an additional 2,246 shares in the last quarter. Axiom International Investors LLC DE acquired a new stake in shares of Tactile Systems Technology during the third quarter worth about $3,512,000. Citadel Advisors LLC acquired a new stake in shares of Tactile Systems Technology during the third quarter worth about $556,000. Finally, Cortina Asset Management LLC acquired a new stake in shares of Tactile Systems Technology during the third quarter worth about $5,555,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

Receive News & Ratings for Tactile Systems Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tactile Systems Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply