Tactile Systems Technology (NASDAQ:TCMD) Stock Rating Upgraded by BTIG Research

Tactile Systems Technology (NASDAQ:TCMD) was upgraded by investment analysts at BTIG Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has a $62.00 target price on the stock. BTIG Research’s price target points to a potential upside of 20.93% from the stock’s current price.

Several other equities analysts have also recently weighed in on TCMD. Guggenheim raised their target price on shares of Tactile Systems Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. BidaskClub cut shares of Tactile Systems Technology from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Piper Jaffray Companies raised their target price on shares of Tactile Systems Technology to $84.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Dougherty & Co started coverage on shares of Tactile Systems Technology in a research note on Thursday, June 13th. They issued a “buy” rating and a $80.00 target price for the company. Finally, ValuEngine raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $73.29.

Shares of NASDAQ:TCMD traded down $0.68 during midday trading on Wednesday, hitting $51.27. The stock had a trading volume of 1,957 shares, compared to its average volume of 193,376. Tactile Systems Technology has a 12 month low of $37.40 and a 12 month high of $76.63. The company has a current ratio of 5.04, a quick ratio of 4.30 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average of $54.89. The firm has a market capitalization of $928.11 million, a P/E ratio of 150.76, a P/E/G ratio of 4.46 and a beta of 1.98.

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

In other Tactile Systems Technology news, COO Robert J. Folkes sold 2,500 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $53.68, for a total transaction of $134,200.00. Following the completion of the sale, the chief operating officer now owns 107,415 shares of the company’s stock, valued at approximately $5,766,037.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bryan Rishe sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $50.41, for a total value of $151,230.00. The disclosure for this sale can be found here. Insiders have sold a total of 66,599 shares of company stock valued at $3,527,859 in the last ninety days. Insiders own 6.50% of the company’s stock.

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

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

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Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

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