Tactile Systems Technology (NASDAQ:TCMD) was downgraded by equities researchers at Northland Securities from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday, The Fly reports.
TCMD has been the subject of a number of other research reports. BidaskClub upgraded Tactile Systems Technology from a “sell” rating to a “hold” rating in a research report on Saturday, January 20th. Zacks Investment Research upgraded Tactile Systems Technology from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research report on Friday, November 10th. Piper Jaffray Companies upgraded Tactile Systems Technology to a “buy” rating and set a $36.00 price objective for the company in a research report on Tuesday, February 20th. Sidoti started coverage on Tactile Systems Technology in a research report on Friday, December 8th. They set a “neutral” rating for the company. Finally, Canaccord Genuity reiterated a “buy” rating and set a $37.00 price objective on shares of Tactile Systems Technology in a research report on Wednesday, January 3rd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Tactile Systems Technology has a consensus rating of “Buy” and a consensus target price of $35.08.
Shares of Tactile Systems Technology (TCMD) opened at $32.42 on Tuesday. Tactile Systems Technology has a 52-week low of $16.69 and a 52-week high of $37.88. The company has a market capitalization of $553.18, a price-to-earnings ratio of 104.58, a PEG ratio of 7.00 and a beta of -0.23.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TCMD. MetLife Investment Advisors LLC purchased a new stake in shares of Tactile Systems Technology during the fourth quarter worth $139,000. Nationwide Fund Advisors raised its holdings in shares of Tactile Systems Technology by 201.8% during the second quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock worth $148,000 after acquiring an additional 3,457 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Tactile Systems Technology during the fourth quarter worth $158,000. Advisors Preferred LLC purchased a new stake in shares of Tactile Systems Technology during the fourth quarter worth $160,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Tactile Systems Technology by 10,882.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock worth $213,000 after acquiring an additional 7,400 shares in the last quarter. Institutional investors own 84.94% of the company’s stock.
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About Tactile Systems Technology
Tactile Systems Technology, Inc is a medical technology company that develops and provides medical devices for the treatment of chronic diseases at home. The Company is a manufacturer and distributor of the Flexitouch and Entre Systems, medical devices that help control symptoms of lymphedema, a chronic and progressive medical condition that is often an unintended consequence of cancer treatment, and the ACTitouch System, a medical device used to treat venous leg ulcers and chronic venous insufficiency.
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