Tactile Systems Technology (TCMD) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a hold rating to a buy rating in a research report report published on Wednesday.

Several other brokerages have also recently issued reports on TCMD. Zacks Investment Research cut shares of Tactile Systems Technology from a strong-buy rating to a hold rating in a report on Saturday, October 27th. Northland Securities upgraded shares of Tactile Systems Technology from an under perform rating to a market perform rating in a report on Wednesday, January 2nd. Piper Jaffray Companies increased their target price on shares of Tactile Systems Technology to $80.00 and gave the stock a positive rating in a report on Monday, January 7th. BidaskClub cut shares of Tactile Systems Technology from a strong-buy rating to a buy rating in a report on Saturday, September 22nd. Finally, BTIG Research reiterated a hold rating on shares of Tactile Systems Technology in a report on Tuesday, November 6th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $65.50.

Shares of Tactile Systems Technology stock opened at $62.13 on Wednesday. Tactile Systems Technology has a 1 year low of $27.87 and a 1 year high of $73.24. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 295.86, a price-to-earnings-growth ratio of 13.87 and a beta of 1.74.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, November 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.04. Tactile Systems Technology had a net margin of 4.92% and a return on equity of 8.53%. The company had revenue of $36.30 million for the quarter, compared to analysts’ expectations of $34.22 million. During the same period in the prior year, the business earned $0.07 EPS. The firm’s quarterly revenue was up 28.3% on a year-over-year basis. On average, equities analysts anticipate that Tactile Systems Technology will post 0.24 earnings per share for the current year.

In other Tactile Systems Technology news, SVP Bryan Rishe sold 3,000 shares of the stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $61.72, for a total transaction of $185,160.00. Following the completion of the sale, the senior vice president now directly owns 70,328 shares of the company’s stock, valued at $4,340,644.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Robert J. Folkes sold 3,044 shares of the stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $45.42, for a total transaction of $138,258.48. Following the sale, the chief operating officer now directly owns 107,770 shares of the company’s stock, valued at $4,894,913.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,822 shares of company stock worth $6,725,674. 8.70% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in TCMD. Rehmann Capital Advisory Group lifted its position in shares of Tactile Systems Technology by 611.9% during the third quarter. Rehmann Capital Advisory Group now owns 1,075 shares of the company’s stock valued at $76,000 after buying an additional 924 shares during the last quarter. Riverhead Capital Management LLC purchased a new stake in shares of Tactile Systems Technology during the third quarter valued at about $156,000. SG Americas Securities LLC purchased a new stake in shares of Tactile Systems Technology during the second quarter valued at about $175,000. First Mercantile Trust Co. lifted its position in shares of Tactile Systems Technology by 57.1% during the third quarter. First Mercantile Trust Co. now owns 2,696 shares of the company’s stock valued at $192,000 after buying an additional 980 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Tactile Systems Technology during the second quarter valued at about $208,000. 95.59% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc is a medical technology company, which develops and provides innovative medical devices for the treatment of chronic diseases at home. The company focus on advancing the standard of care in treating chronic diseases in the home setting to improve patient outcomes and quality of life and help control rising healthcare expenditures.

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