Tactile Systems Technology (TCMD) Now Covered by Analysts at Sidoti
A number of other equities analysts have also recently commented on TCMD. Zacks Investment Research upgraded Tactile Systems Technology from a hold rating to a buy rating and set a $37.00 target price for the company in a report on Thursday, August 10th. Northland Securities reiterated a hold rating and issued a $31.50 target price on shares of Tactile Systems Technology in a report on Monday, October 16th. BTIG Research upgraded Tactile Systems Technology from a neutral rating to a buy rating in a report on Thursday, November 9th. They noted that the move was a valuation call. Finally, Guggenheim began coverage on Tactile Systems Technology in a report on Thursday, October 12th. They issued a buy rating and a $47.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $34.25.
Shares of Tactile Systems Technology (TCMD) traded up $0.53 during trading on Friday, hitting $27.53. The stock had a trading volume of 208,041 shares, compared to its average volume of 452,500. The stock has a market cap of $477.95, a PE ratio of 180.00, a price-to-earnings-growth ratio of 4.43 and a beta of -0.69. Tactile Systems Technology has a 12-month low of $14.37 and a 12-month high of $37.88.
Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The firm had revenue of $28.28 million during the quarter, compared to analysts’ expectations of $27.66 million. Tactile Systems Technology had a return on equity of 4.75% and a net margin of 5.84%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 EPS. equities analysts anticipate that Tactile Systems Technology will post 0.31 earnings per share for the current fiscal year.
In related news, Director William W. Burke sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $28.86, for a total transaction of $57,720.00. Following the completion of the sale, the director now directly owns 6,306 shares of the company’s stock, valued at approximately $181,991.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Bryan Rishe sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $32.86, for a total value of $49,290.00. Following the sale, the vice president now directly owns 109,807 shares of the company’s stock, valued at $3,608,258.02. The disclosure for this sale can be found here. Insiders have sold a total of 1,084,605 shares of company stock valued at $33,344,231 over the last three months. 49.90% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the stock. Peregrine Capital Management LLC bought a new stake in shares of Tactile Systems Technology during the 3rd quarter worth approximately $16,984,000. Russell Investments Group Ltd. lifted its stake in shares of Tactile Systems Technology by 12.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 522,050 shares of the company’s stock worth $16,157,000 after acquiring an additional 56,565 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Tactile Systems Technology by 6.8% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 466,903 shares of the company’s stock worth $14,451,000 after acquiring an additional 29,912 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Tactile Systems Technology by 18.8% during the 2nd quarter. Vanguard Group Inc. now owns 376,161 shares of the company’s stock worth $10,750,000 after acquiring an additional 59,595 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Tactile Systems Technology by 108.3% during the 2nd quarter. Lord Abbett & CO. LLC now owns 371,980 shares of the company’s stock worth $10,631,000 after acquiring an additional 193,429 shares during the last quarter. 71.68% of the stock is owned by hedge funds and other institutional investors.
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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.
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