Tactile Systems Technology (NASDAQ:TCMD) Stock Rating Raised to “Strong-Buy” at Wall Street Zen

Tactile Systems Technology (NASDAQ:TCMD) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

TCMD has been the subject of several other research reports. BTIG Research lowered their price target on shares of Tactile Systems Technology from $39.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Weiss Ratings upgraded shares of Tactile Systems Technology from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 13th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.60.

Tactile Systems Technology Price Performance

Shares of TCMD opened at $23.04 on Friday. The company has a market cap of $521.86 million, a P/E ratio of 22.51 and a beta of 0.82. The stock has a fifty day moving average price of $22.74 and a 200 day moving average price of $25.94. Tactile Systems Technology has a 12 month low of $14.84 and a 12 month high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.20. The firm had revenue of $85.70 million for the quarter, compared to analyst estimates of $85.52 million. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%. As a group, research analysts anticipate that Tactile Systems Technology will post 1.10 earnings per share for the current year.

Insider Buying and Selling

In other Tactile Systems Technology news, CEO Sheri Dodd sold 10,978 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the sale, the chief executive officer directly owned 232,907 shares in the company, valued at approximately $6,856,782.08. The trade was a 4.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TCMD. USA Financial Formulas bought a new stake in Tactile Systems Technology during the first quarter worth approximately $71,000. Summit Securities Group LLC acquired a new stake in Tactile Systems Technology in the first quarter worth approximately $75,000. Versant Capital Management Inc lifted its position in Tactile Systems Technology by 36.4% in the second quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock worth $98,000 after purchasing an additional 876 shares during the period. Quantbot Technologies LP bought a new position in Tactile Systems Technology during the 2nd quarter valued at $101,000. Finally, IFP Advisors Inc boosted its stake in Tactile Systems Technology by 24.3% during the 2nd quarter. IFP Advisors Inc now owns 3,606 shares of the company’s stock valued at $107,000 after purchasing an additional 704 shares in the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

Tactile Systems Technology Company Profile

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.