Tactile Systems Technology (NASDAQ:TCMD) Stock Gets Price Target Cut from BTIG Research

Tactile Systems Technology (NASDAQ:TCMD) had its price objective trimmed by BTIG Research from $39.00 to $35.00 in a report released on Monday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Weiss Ratings downgraded shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, September 28th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.60.

Tactile Systems Technology Trading Up 0.4%

Tactile Systems Technology stock opened at $22.41 on Monday. The firm has a market cap of $507.63 million, a price-to-earnings ratio of 20.75 and a beta of 0.82. The stock has a fifty day simple moving average of $23.15 and a two-hundred day simple moving average of $25.24. Tactile Systems Technology has a 12 month low of $14.43 and a 12 month high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.20. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%. The firm had revenue of $85.70 million during the quarter, compared to analysts’ expectations of $85.52 million. On average, equities research analysts forecast that Tactile Systems Technology will post 1.10 EPS for the current fiscal year.

Insider Buying and Selling

In other Tactile Systems Technology news, CEO Sheri Dodd sold 10,978 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the transaction, the chief executive officer owned 232,907 shares of the company’s stock, valued at $6,856,782.08. The trade was a 4.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.10% of the company’s stock.

Institutional Trading of Tactile Systems Technology

Several institutional investors and hedge funds have recently modified their holdings of TCMD. First Light Asset Management LLC purchased a new stake in Tactile Systems Technology during the 2nd quarter valued at approximately $13,775,000. Engineers Gate Manager LP bought a new stake in shares of Tactile Systems Technology during the second quarter valued at approximately $400,000. IFP Advisors Inc raised its position in shares of Tactile Systems Technology by 24.3% during the second quarter. IFP Advisors Inc now owns 3,606 shares of the company’s stock valued at $107,000 after buying an additional 704 shares during the last quarter. Amundi lifted its holdings in shares of Tactile Systems Technology by 9.2% in the second quarter. Amundi now owns 19,761 shares of the company’s stock worth $588,000 after buying an additional 1,659 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Tactile Systems Technology in the second quarter worth $3,607,000. 83.43% of the stock is currently owned by institutional investors.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, doing business as Tactile Medical, is a medical technology company focused on developing, manufacturing and distributing devices for people with chronic swelling and respiratory conditions. Its products are intended for use in the home and are commonly prescribed by health care professionals as part of ongoing disease-management programs.

The company’s core products include the Flexitouch pneumatic compression system, designed to support the treatment of lymphedema and related conditions, and the Entre system, which provides pneumatic compression therapy for the upper and lower extremities.