Tactile Systems Technology (NASDAQ:TCMD) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday, Zacks.com reports. The firm currently has $57.00 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. “

TCMD has been the subject of a number of other research reports. TheStreet upgraded Tactile Systems Technology from a d+ rating to a c+ rating in a report on Monday, July 29th. BidaskClub downgraded Tactile Systems Technology from a hold rating to a sell rating in a report on Friday, July 19th. Piper Jaffray Companies increased their price objective on Tactile Systems Technology to $84.00 and gave the stock an overweight rating in a report on Monday, May 6th. ValuEngine upgraded Tactile Systems Technology from a hold rating to a buy rating in a report on Thursday, August 1st. Finally, BTIG Research upgraded Tactile Systems Technology from a neutral rating to a buy rating and set a $62.00 price objective for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Tactile Systems Technology has an average rating of Buy and a consensus target price of $73.29.

Shares of Tactile Systems Technology stock traded down $1.59 during midday trading on Thursday, reaching $50.36. 123,228 shares of the company’s stock traded hands, compared to its average volume of 251,511. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.30 and a current ratio of 5.04. The company has a market capitalization of $928.11 million, a P/E ratio of 148.12, a PEG ratio of 4.46 and a beta of 1.98. The company’s 50 day moving average is $54.89. Tactile Systems Technology has a 12 month low of $37.40 and a 12 month high of $76.63.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, August 5th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.09. The company had revenue of $45.20 million during the quarter, compared to the consensus estimate of $42.60 million. Tactile Systems Technology had a return on equity of 9.19% and a net margin of 5.05%. The firm’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 earnings per share. Research analysts anticipate that Tactile Systems Technology will post 0.55 EPS for the current year.

In other news, SVP Bryan Rishe sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $50.41, for a total transaction of $151,230.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert J. Folkes sold 2,106 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $54.65, for a total value of $115,092.90. Following the transaction, the chief operating officer now owns 88,890 shares of the company’s stock, valued at $4,857,838.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,599 shares of company stock valued at $3,527,859. 6.50% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of TCMD. Northern Trust Corp increased its holdings in shares of Tactile Systems Technology by 1.5% during the fourth quarter. Northern Trust Corp now owns 225,346 shares of the company’s stock valued at $10,265,000 after acquiring an additional 3,390 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Tactile Systems Technology by 11.6% during the fourth quarter. Geode Capital Management LLC now owns 195,598 shares of the company’s stock valued at $8,908,000 after acquiring an additional 20,284 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Tactile Systems Technology by 43.4% during the fourth quarter. Bank of America Corp DE now owns 80,852 shares of the company’s stock valued at $3,683,000 after acquiring an additional 24,485 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in shares of Tactile Systems Technology by 356.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,818 shares of the company’s stock valued at $265,000 after acquiring an additional 4,544 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new position in shares of Tactile Systems Technology during the fourth quarter valued at $220,000. Hedge funds and other institutional investors own 98.90% of the company’s stock.

About Tactile Systems Technology

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 Flexitouch system, an at-home solution for lymphedema patients; and ACTitouch system, a home-based solution for chronic venous insufficiency patients.

Featured Story: Book Value Per Share in Stock Trading

Get a free copy of the Zacks research report on Tactile Systems Technology (TCMD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

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