Tactile Systems Technology, Inc. (NASDAQ:TCMD) has been given a consensus recommendation of “Hold” by the seven analysts that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $40.00.

Several analysts have recently weighed in on TCMD shares. Northland Securities restated a “hold” rating and set a $31.50 price objective on shares of Tactile Systems Technology in a research report on Monday, October 16th. ValuEngine upgraded shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research downgraded shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Canaccord Genuity restated a “buy” rating and set a $37.00 price objective (up previously from $28.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 8th. Finally, Guggenheim started coverage on shares of Tactile Systems Technology in a research report on Thursday, October 12th. They set a “buy” rating and a $47.00 price objective for the company.

Shares of Tactile Systems Technology (NASDAQ TCMD) opened at $27.32 on Monday. The stock has a market capitalization of $481.64, a price-to-earnings ratio of 303.56, a P/E/G ratio of 5.61 and a beta of -0.57.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, August 7th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. The business had revenue of $26.30 million during the quarter, compared to the consensus estimate of $23.88 million. Tactile Systems Technology had a net margin of 4.97% and a return on equity of 3.05%. The company’s revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 EPS. sell-side analysts predict that Tactile Systems Technology will post 0.24 earnings per share for the current year.

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In related news, COO Robert J. Folkes sold 1,500 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $32.54, for a total value of $48,810.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert J. Folkes sold 4,455 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $28.32, for a total transaction of $126,165.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,078,547 shares of company stock valued at $33,512,369. 49.90% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in TCMD. Peregrine Capital Management LLC purchased a new stake in Tactile Systems Technology in the 3rd quarter valued at $16,984,000. Russell Investments Group Ltd. purchased a new stake in Tactile Systems Technology in the 2nd quarter valued at $13,304,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in Tactile Systems Technology in the 2nd quarter valued at $12,489,000. Koch Industries Inc. purchased a new stake in Tactile Systems Technology in the 2nd quarter valued at $217,000. Finally, Lord Abbett & CO. LLC raised its position in Tactile Systems Technology by 108.3% in the 2nd quarter. Lord Abbett & CO. LLC now owns 371,980 shares of the company’s stock valued at $10,631,000 after purchasing an additional 193,429 shares during the last quarter. Hedge funds and other institutional investors own 48.53% of the company’s stock.

About Tactile Systems Technology

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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