Tactile Systems Technology Inc (TCMD) Sees Strong Trading Volume
Shares of Tactile Systems Technology Inc (NASDAQ:TCMD) saw unusually-high trading volume on Friday . Approximately 78,012 shares were traded during mid-day trading, an increase of 44% from the previous session’s volume of 54,036 shares.The stock last traded at $15.37 and had previously closed at $15.02.
TCMD has been the topic of several research analyst reports. Piper Jaffray Cos. initiated coverage on Tactile Systems Technology in a research note on Monday, August 22nd. They set an “overweight” rating and a $17.00 target price on the stock. BTIG Research initiated coverage on Tactile Systems Technology in a research note on Monday, August 22nd. They set a “buy” rating and a $18.00 target price on the stock. William Blair initiated coverage on Tactile Systems Technology in a research note on Monday, August 22nd. They set an “outperform” rating on the stock. Finally, Canaccord Genuity initiated coverage on Tactile Systems Technology in a research note on Thursday, August 25th. They set a “buy” rating and a $21.00 target price on the stock.
The firm has a 50 day moving average of $13.51 and a 200 day moving average of $13.51. The stock’s market cap is $50.77 million.
In other Tactile Systems Technology news, Director Peter H. Soderberg acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were purchased at an average cost of $10.00 per share, for a total transaction of $1,000,000.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $50,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Tactile Systems Technology, Inc is a medical technology company. The Company develops and provides medical devices for the treatment of chronic diseases at home. The Company focuses on advancing the standard of care in treating chronic diseases in the home setting to improve patient outcomes and quality of life and help control rising healthcare expenditures.
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