Tactile Systems Technology (NASDAQ:TCMD) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a strong-buy rating to a buy rating in a report published on Saturday morning.

Other research analysts also recently issued reports about the company. B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their price target for the company from $32.00 to $36.00 in a report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tactile Systems Technology in a report on Monday, August 3rd. Finally, BTIG Research decreased their target price on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.40.

Tactile Systems Technology Stock Up 1.6%

Shares of NASDAQ TCMD opened at $24.59 on Friday. Tactile Systems Technology has a twelve month low of $12.25 and a twelve month high of $37.77. The firm has a market cap of $556.96 million, a P/E ratio of 22.77 and a beta of 0.81. The company has a 50 day moving average of $28.06 and a 200 day moving average of $26.87.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, August 10th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.14 by $0.20. The business had revenue of $85.70 million for the quarter, compared to the consensus estimate of $85.52 million. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%. As a group, equities analysts expect that Tactile Systems Technology will post 1.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 10,978 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 232,907 shares in the company, valued at approximately $6,856,782.08. The trade was a 4.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Tactile Systems Technology

Several large investors have recently modified their holdings of TCMD. BlackRock Inc. bought a new stake in shares of Tactile Systems Technology during the 2nd quarter valued at about $56,733,000. Jupiter Topco LLC bought a new position in shares of Tactile Systems Technology in the 2nd quarter worth approximately $11,831,000. Next Century Growth Investors LLC purchased a new position in shares of Tactile Systems Technology in the fourth quarter worth approximately $11,309,000. Punch & Associates Investment Management Inc. purchased a new position in shares of Tactile Systems Technology in the second quarter worth approximately $9,381,000. Finally, Marshall Wace LLP bought a new stake in Tactile Systems Technology during the fourth quarter valued at approximately $7,700,000. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, headquartered in Plymouth, Minnesota, is a medical device company specializing in the design, manufacture and marketing of home-use pneumatic compression therapy systems for the treatment of lymphedema and other chronic edema-related conditions. Using proprietary software and patented pump technologies, the company’s platforms are designed to improve patient outcomes through sequential pressure treatment that promotes fluid mobilization and enhanced lymphatic function.

At the core of Tactile Systems’ product portfolio is the Flexitouch® system, a programmable pneumatic pump and garment system approved for home use, and the Aria® device, which features an intuitive touchscreen interface and advanced garment design.