Zacks: Brokerages Set $19.00 Target Price for Tactile Systems Technology Inc (NASDAQ:TCMD)
Shares of Tactile Systems Technology Inc (NASDAQ:TCMD) have been given an average broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy recommendation.
Brokers have set a 1-year consensus target price of $19.00 for the company and are forecasting that the company will post ($0.02) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Tactile Systems Technology an industry rank of 108 out of 265 based on the ratings given to its competitors.
A number of research analysts have issued reports on TCMD shares. BTIG Research assumed coverage on Tactile Systems Technology in a research report on Monday, August 22nd. They issued a “buy” rating and a $18.00 target price on the stock. Canaccord Genuity assumed coverage on Tactile Systems Technology in a report on Thursday, August 25th. They set a “buy” rating and a $21.00 price target on the stock. Piper Jaffray Cos. assumed coverage on Tactile Systems Technology in a report on Monday, August 22nd. They set an “overweight” rating and a $17.00 price target on the stock. Finally, William Blair assumed coverage on Tactile Systems Technology in a report on Monday, August 22nd. They set an “outperform” rating on the stock.
Tactile Systems Technology (NASDAQ:TCMD) traded up 1.7247% during mid-day trading on Tuesday, reaching $18.2901. The company had a trading volume of 49,551 shares. The firm has a market capitalization of $306.76 million and a P/E ratio of 295.0016. Tactile Systems Technology has a one year low of $10.00 and a one year high of $21.20. The firm’s 50-day moving average is $14.62 and its 200-day moving average is $14.44.
In other news, Director Richard Nigon purchased 18,750 shares of Tactile Systems Technology stock in a transaction dated Wednesday, September 14th. The shares were bought at an average cost of $16.87 per share, for a total transaction of $316,312.50. Following the completion of the acquisition, the director now owns 8,322 shares in the company, valued at approximately $140,392.14. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter H. Soderberg purchased 100,000 shares of Tactile Systems Technology stock in a transaction dated Tuesday, August 2nd. The shares were purchased at an average price 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 disclosure for this purchase can be found here.
About Tactile Systems Technology
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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