BidaskClub upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a hold rating to a buy rating in a research report report published on Wednesday morning.
Several other research firms have also issued reports on TCMD. Zacks Investment Research lowered shares of Tactile Systems Technology from a buy rating to a hold rating in a report on Wednesday, February 28th. Northland Securities lowered shares of Tactile Systems Technology from an outperform rating to a market perform rating in a report on Tuesday, February 27th. Canaccord Genuity boosted their price objective on shares of Tactile Systems Technology from $37.00 to $42.00 and gave the stock a buy rating in a report on Tuesday, February 27th. Piper Jaffray upgraded shares of Tactile Systems Technology to a buy rating and set a $36.00 price objective for the company in a report on Tuesday, February 20th. Finally, Sidoti initiated coverage on shares of Tactile Systems Technology in a report on Friday, December 8th. They issued a neutral rating for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Tactile Systems Technology currently has a consensus rating of Buy and a consensus price target of $36.90.
TCMD stock opened at $31.90 on Wednesday. Tactile Systems Technology has a 52-week low of $16.69 and a 52-week high of $37.88. The company has a market cap of $577.96, a PE ratio of 151.90, a price-to-earnings-growth ratio of 5.94 and a beta of 0.42.
In related news, CEO Gerald R. Mattys sold 6,150 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $29.23, for a total value of $179,764.50. Following the completion of the transaction, the chief executive officer now directly owns 303,181 shares in the company, valued at approximately $8,861,980.63. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Bryan Rishe sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $30.92, for a total transaction of $46,380.00. Following the completion of the transaction, the senior vice president now owns 93,145 shares of the company’s stock, valued at $2,880,043.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 266,216 shares of company stock valued at $8,459,603. 49.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC purchased a new position in Tactile Systems Technology in the 4th quarter worth approximately $139,000. Municipal Employees Retirement System of Michigan bought a new stake in Tactile Systems Technology in the 4th quarter worth approximately $158,000. Advisors Preferred LLC bought a new stake in Tactile Systems Technology in the 4th quarter worth approximately $160,000. The Manufacturers Life Insurance Company grew its position in Tactile Systems Technology by 10,882.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock worth $213,000 after purchasing an additional 7,400 shares during the period. Finally, Rehmann Capital Advisory Group bought a new stake in Tactile Systems Technology in the 4th quarter worth approximately $218,000. Institutional investors own 89.65% of the company’s stock.
Tactile Systems Technology Company Profile
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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