Piper Jaffray Companies reaffirmed their overweight rating on shares of Tactile Systems Technology (NASDAQ:TCMD) in a report issued on Monday, The Fly reports. The firm currently has a $77.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Tactile Systems Technology’s Q3 2018 earnings at $0.02 EPS, Q4 2019 earnings at $0.27 EPS and FY2020 earnings at $0.57 EPS.

Several other research firms have also recently weighed in on TCMD. BidaskClub raised Tactile Systems Technology from a buy rating to a strong-buy rating in a research report on Wednesday, July 25th. BTIG Research cut Tactile Systems Technology from a buy rating to a neutral rating in a research report on Monday, June 4th. They noted that the move was a valuation call. Northland Securities cut Tactile Systems Technology from a market perform rating to an under perform rating in a research report on Monday, June 4th. Canaccord Genuity reissued a buy rating and issued a $65.00 price objective (up previously from $60.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 7th. Finally, TheStreet cut Tactile Systems Technology from a c+ rating to a d+ rating in a research report on Monday, August 20th. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of $56.10.

Shares of Tactile Systems Technology stock opened at $67.50 on Monday. Tactile Systems Technology has a 12-month low of $22.72 and a 12-month high of $72.41. The firm has a market cap of $1.24 billion, a P/E ratio of 321.43, a P/E/G ratio of 9.51 and a beta of 0.97.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, August 6th. The company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.09. Tactile Systems Technology had a return on equity of 8.41% and a net margin of 4.91%. The business had revenue of $34.10 million for the quarter, compared to analysts’ expectations of $31.49 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The business’s revenue was up 29.7% on a year-over-year basis. analysts forecast that Tactile Systems Technology will post 0.36 EPS for the current fiscal year.

In other news, SVP Bryan Rishe sold 3,000 shares of the company’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $55.35, for a total transaction of $166,050.00. Following the transaction, the senior vice president now owns 85,928 shares of the company’s stock, valued at approximately $4,756,114.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert J. Folkes sold 5,000 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $70.05, for a total value of $350,250.00. Following the transaction, the chief operating officer now directly owns 113,236 shares in the company, valued at approximately $7,932,181.80. The disclosure for this sale can be found here. Insiders have sold a total of 135,449 shares of company stock worth $7,555,296 in the last ninety days. Insiders own 8.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of TCMD. BlackRock Inc. lifted its position in shares of Tactile Systems Technology by 31.8% during the 2nd quarter. BlackRock Inc. now owns 2,351,300 shares of the company’s stock valued at $122,266,000 after buying an additional 566,881 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of Tactile Systems Technology during the 2nd quarter valued at $11,777,000. Fred Alger Management Inc. lifted its position in shares of Tactile Systems Technology by 16.2% during the 2nd quarter. Fred Alger Management Inc. now owns 748,638 shares of the company’s stock valued at $38,929,000 after buying an additional 104,208 shares during the last quarter. EAM Investors LLC purchased a new position in shares of Tactile Systems Technology during the 2nd quarter valued at $4,841,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Tactile Systems Technology by 22.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 264,521 shares of the company’s stock valued at $13,756,000 after buying an additional 49,350 shares during the last quarter. 95.70% of the stock is currently owned by hedge funds and other institutional investors.

About Tactile Systems Technology

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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The Fly

Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

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