Tactile Systems Technology, Inc. (TCMD) Receives Consensus Recommendation of “Hold” from Analysts
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.
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.
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