Zacks Investment Research upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a hold rating to a buy rating in a report published on Wednesday morning. Zacks Investment Research currently has $82.00 price objective on the stock.

According to Zacks, “Tactile Systems Technology, Inc. is a medical technology company which develops medical devices for the treatment of chronic diseases at home. The company’s product pipeline consists of Flexitouch System(R), the EntrĂ© System and the ACTitouch System (R). Tactile Systems Technology, Inc. is headquartered in Minneapolis, Minnesota. “

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity increased their price target on shares of Tactile Systems Technology from $55.00 to $80.00 and gave the stock a buy rating in a research report on Friday, March 1st. BTIG Research reaffirmed a hold rating on shares of Tactile Systems Technology in a research report on Tuesday, March 5th. BidaskClub raised shares of Tactile Systems Technology from a buy rating to a strong-buy rating in a research report on Thursday, February 14th. Northland Securities raised shares of Tactile Systems Technology from an under perform rating to a market perform rating in a report on Wednesday, January 2nd. Finally, ValuEngine cut shares of Tactile Systems Technology from a buy rating to a hold rating in a report on Friday, December 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Tactile Systems Technology has an average rating of Buy and an average target price of $70.00.

Shares of TCMD stock opened at $63.19 on Wednesday. Tactile Systems Technology has a one year low of $30.21 and a one year high of $76.63. The stock has a market cap of $1.18 billion, a PE ratio of 225.68, a P/E/G ratio of 10.02 and a beta of 2.36.

In other Tactile Systems Technology news, COO Robert J. Folkes sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $66.04, for a total value of $330,200.00. Following the transaction, the chief operating officer now owns 111,654 shares of the company’s stock, valued at $7,373,630.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert J. Folkes sold 3,044 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $45.42, for a total transaction of $138,258.48. Following the completion of the transaction, the chief operating officer now directly owns 107,770 shares in the company, valued at approximately $4,894,913.40. The disclosure for this sale can be found here. Insiders sold 133,727 shares of company stock worth $8,835,265 in the last three months. 8.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. NumerixS Investment Technologies Inc increased its stake in shares of Tactile Systems Technology by 240.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 1,700 shares of the company’s stock valued at $75,000 after purchasing an additional 1,200 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of Tactile Systems Technology by 611.9% in the third quarter. Rehmann Capital Advisory Group now owns 1,075 shares of the company’s stock valued at $76,000 after purchasing an additional 924 shares during the period. Neuburgh Advisers LLC increased its stake in shares of Tactile Systems Technology by 22.2% in the fourth quarter. Neuburgh Advisers LLC now owns 1,760 shares of the company’s stock valued at $80,000 after purchasing an additional 320 shares during the period. Riverhead Capital Management LLC acquired a new stake in shares of Tactile Systems Technology in the third quarter valued at approximately $156,000. Finally, LS Investment Advisors LLC increased its stake in shares of Tactile Systems Technology by 580.2% in the fourth quarter. LS Investment Advisors LLC now owns 3,639 shares of the company’s stock valued at $166,000 after purchasing an additional 3,104 shares during the period. 98.90% of the stock is currently owned by hedge funds and other institutional investors.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of chronic diseases in the United States. The company offers proprietary Flexitouch system, an at-home solution for lymphedema patients; and ACTitouch system, a home-based solution for chronic venous insufficiency patients.

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