Tactile Systems Technology (TCMD) Raised to “Buy” at BidaskClub

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.

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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.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, February 26th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.04. Tactile Systems Technology had a net margin of 5.36% and a return on equity of 6.09%. The firm had revenue of $34.89 million during the quarter, compared to analyst estimates of $34.30 million. sell-side analysts predict that Tactile Systems Technology will post 0.27 EPS for the current fiscal year.

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.

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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.

Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

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