BidaskClub upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a sell rating to a hold rating in a research report report published on Saturday morning.

Other research analysts also recently issued research reports about the stock. BTIG Research upgraded shares of Tactile Systems Technology from a neutral rating to a buy rating in a research note on Thursday, November 9th. They noted that the move was a valuation call. Guggenheim initiated coverage on shares of Tactile Systems Technology in a research note on Thursday, October 12th. They issued a buy rating and a $47.00 target price on the stock. Canaccord Genuity reiterated a buy rating and issued a $37.00 target price on shares of Tactile Systems Technology in a research note on Wednesday, January 3rd. Northland Securities reiterated a hold rating and issued a $31.50 target price on shares of Tactile Systems Technology in a research note on Monday, October 16th. Finally, Zacks Investment Research downgraded shares of Tactile Systems Technology from a buy rating to a hold rating in a research note on Wednesday, October 11th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $34.25.

Shares of Tactile Systems Technology (TCMD) traded up $1.56 during midday trading on Friday, hitting $31.15. 356,574 shares of the stock traded hands, compared to its average volume of 146,338. The company has a market capitalization of $551.42, a P/E ratio of 207.67, a PEG ratio of 6.97 and a beta of -0.60. Tactile Systems Technology has a 52-week low of $14.37 and a 52-week high of $37.88.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $28.28 million for the quarter, compared to the consensus estimate of $27.66 million. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The business’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. analysts expect that Tactile Systems Technology will post 0.34 earnings per share for the current year.

In other news, VP Bryan Rishe sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $27.21, for a total transaction of $40,815.00. Following the completion of the transaction, the vice president now directly owns 105,307 shares of the company’s stock, valued at $2,865,403.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cheryl Pegus acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were bought at an average cost of $27.86 per share, with a total value of $27,860.00. Following the completion of the acquisition, the director now directly owns 2,184 shares of the company’s stock, valued at $60,846.24. The disclosure for this purchase can be found here. Insiders have sold 188,695 shares of company stock valued at $5,314,541 over the last three months. 49.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TCMD. Schwab Charles Investment Management Inc. purchased a new position in shares of Tactile Systems Technology during the second quarter valued at approximately $441,000. Rhumbline Advisers purchased a new stake in Tactile Systems Technology during the second quarter valued at approximately $267,000. Bank of New York Mellon Corp increased its holdings in Tactile Systems Technology by 452.4% during the second quarter. Bank of New York Mellon Corp now owns 76,255 shares of the company’s stock valued at $2,180,000 after buying an additional 62,450 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Tactile Systems Technology by 39.3% during the second quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock valued at $127,000 after buying an additional 1,252 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Tactile Systems Technology by 42.7% during the second quarter. Wells Fargo & Company MN now owns 84,725 shares of the company’s stock valued at $2,422,000 after buying an additional 25,336 shares during the last quarter. 72.19% of the stock is owned by hedge funds and other institutional investors.

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About Tactile Systems Technology

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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