Tactile Systems Technology (TCMD) Rating Increased to Hold at BidaskClub
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.
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.
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