Tactile Systems Technology, Inc. (NASDAQ:TCMD)’s share price rose 4.6% on Tuesday . The company traded as high as $29.89 and last traded at $26.92. Approximately 313,412 shares were traded during trading, an increase of 66% from the average daily volume of 188,775 shares. The stock had previously closed at $28.22.

TCMD has been the subject of a number of research analyst reports. BTIG Research upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating in a report on Thursday, November 9th. They noted that the move was a valuation call. Zacks Investment Research upgraded Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Thursday, August 10th. Canaccord Genuity reiterated a “buy” rating and set a $37.00 price target (up from $28.00) on shares of Tactile Systems Technology in a report on Tuesday, August 8th. Guggenheim started coverage on Tactile Systems Technology in a report on Thursday, October 12th. They set a “buy” rating and a $47.00 price target for the company. Finally, Northland Securities restated a “hold” rating and set a $31.50 target price on shares of Tactile Systems Technology in a report on Monday, October 16th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $34.25.

The company has a market capitalization of $476.53, a price-to-earnings ratio of 179.47, a P/E/G ratio of 4.41 and a beta of -0.57.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Tactile Systems Technology had a return on equity of 4.75% and a net margin of 5.84%. The company had revenue of $28.28 million during the quarter, compared to analysts’ expectations of $27.66 million. During the same period last year, the business posted $0.01 EPS. Tactile Systems Technology’s revenue for the quarter was up 25.0% on a year-over-year basis. equities analysts expect that Tactile Systems Technology, Inc. will post 0.31 EPS for the current year.

In other Tactile Systems Technology news, CEO Gerald R. Mattys sold 21,613 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $26.03, for a total value of $562,586.39. Following the sale, the chief executive officer now owns 334,013 shares of the company’s stock, valued at approximately $8,694,358.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert J. Folkes sold 1,500 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $33.67, for a total value of $50,505.00. Following the completion of the sale, the chief operating officer now directly owns 131,837 shares in the company, valued at approximately $4,438,951.79. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,660 shares of company stock valued at $34,152,506 over the last 90 days. 49.90% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Menta Capital LLC raised its position in Tactile Systems Technology by 66.9% in the 2nd quarter. Menta Capital LLC now owns 28,186 shares of the company’s stock valued at $806,000 after purchasing an additional 11,300 shares in the last quarter. Geode Capital Management LLC raised its position in Tactile Systems Technology by 17.2% in the 1st quarter. Geode Capital Management LLC now owns 70,704 shares of the company’s stock valued at $1,339,000 after purchasing an additional 10,377 shares in the last quarter. Nicholas Investment Partners LP acquired a new stake in Tactile Systems Technology in the 2nd quarter valued at about $1,723,000. Peregrine Capital Management LLC acquired a new stake in Tactile Systems Technology in the 3rd quarter valued at about $16,984,000. Finally, EAM Investors LLC raised its position in Tactile Systems Technology by 153.1% in the 2nd quarter. EAM Investors LLC now owns 178,275 shares of the company’s stock valued at $5,095,000 after purchasing an additional 107,826 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

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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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