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

Several other research analysts also recently weighed in on TCMD. Canaccord Genuity restated 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 restated a hold rating and issued a $31.50 target price on shares of Tactile Systems Technology in a research note on Monday, October 16th. 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. 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. Finally, Sidoti began coverage on shares of Tactile Systems Technology in a research note on Friday, December 8th. They issued a neutral rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Tactile Systems Technology currently has a consensus rating of Buy and an average price target of $34.25.

Tactile Systems Technology (TCMD) traded up $0.10 during trading on Friday, hitting $28.15. 334,812 shares of the stock traded hands, compared to its average volume of 248,302. Tactile Systems Technology has a 52 week low of $14.37 and a 52 week high of $37.88. The firm has a market capitalization of $498.31 and a price-to-earnings ratio of 87.97.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. The business had revenue of $28.28 million during 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 quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 earnings per share. sell-side analysts anticipate that Tactile Systems Technology will post 0.34 earnings per share for the current year.

In related news, CEO Gerald R. Mattys sold 40,000 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $27.00, for a total value of $1,080,000.00. Following the sale, the chief executive officer now owns 334,013 shares of the company’s stock, valued at approximately $9,018,351. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Bryan Rishe sold 1,500 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $31.87, for a total transaction of $47,805.00. Following the completion of the sale, the vice president now directly owns 106,807 shares in the company, valued at approximately $3,403,939.09. The disclosure for this sale can be found here. Insiders have sold 181,045 shares of company stock worth $5,097,096 over the last three months. 49.90% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in shares of Tactile Systems Technology by 39.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock worth $127,000 after acquiring an additional 1,252 shares during the period. Cadence Capital Management LLC increased its holdings in shares of Tactile Systems Technology by 5.1% in the 3rd quarter. Cadence Capital Management LLC now owns 46,436 shares of the company’s stock worth $1,437,000 after acquiring an additional 2,246 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Tactile Systems Technology by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 79,247 shares of the company’s stock worth $2,453,000 after acquiring an additional 2,992 shares during the period. Nationwide Fund Advisors increased its holdings in shares of Tactile Systems Technology by 201.8% in the 2nd quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock worth $148,000 after acquiring an additional 3,457 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Tactile Systems Technology by 10,882.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock worth $213,000 after acquiring an additional 7,400 shares during the period. 71.68% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

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