ValuEngine upgraded shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

Separately, Zacks Investment Research lowered shares of Tactile Systems Technology from a buy rating to a hold rating in a report on Saturday, June 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Tactile Systems Technology has a consensus rating of Buy and a consensus price target of $24.25.

Tactile Systems Technology (NASDAQ TCMD) opened at 29.55 on Friday. The company’s 50 day moving average is $28.47 and its 200-day moving average is $21.47. The firm has a market cap of $500.58 million and a P/E ratio of 266.22. Tactile Systems Technology has a 52 week low of $11.88 and a 52 week high of $31.49.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, May 8th. The company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.05. The business had revenue of $19.85 million during the quarter, compared to analyst estimates of $16.17 million. Tactile Systems Technology had a net margin of 2.24% and a return on equity of 4.82%. The business’s revenue was up 44.9% on a year-over-year basis. During the same period last year, the business earned ($0.45) EPS. Equities analysts expect that Tactile Systems Technology will post $0.13 earnings per share for the current year.

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In related news, VP Mary E. Anderson sold 13,586 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $23.72, for a total transaction of $322,259.92. Following the completion of the sale, the vice president now directly owns 64,041 shares of the company’s stock, valued at approximately $1,519,052.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William W. Burke sold 1,500 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $25.25, for a total transaction of $37,875.00. Following the sale, the director now directly owns 8,306 shares of the company’s stock, valued at $209,726.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,329,670 shares of company stock valued at $32,832,710. Company insiders own 49.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in Tactile Systems Technology by 1,118.5% in the first quarter. Bank of America Corp DE now owns 6,982 shares of the company’s stock worth $133,000 after buying an additional 6,409 shares during the last quarter. Bank of Montreal Can purchased a new stake in Tactile Systems Technology during the second quarter worth $146,000. Trexquant Investment LP purchased a new stake in Tactile Systems Technology during the first quarter worth $224,000. Bank of New York Mellon Corp raised its position in shares of Tactile Systems Technology by 33.7% in the first quarter. Bank of New York Mellon Corp now owns 13,805 shares of the company’s stock valued at $262,000 after buying an additional 3,480 shares in the last quarter. Finally, Menta Capital LLC bought a new position in shares of Tactile Systems Technology during the first quarter valued at $320,000. 32.79% of the stock is owned by institutional investors and hedge funds.

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.

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