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.
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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