Tactile Systems Technology, Inc. (NASDAQ:TCMD) was upgraded by investment analysts at BTIG Research from a “neutral” rating to a “buy” rating in a report issued on Thursday. The analysts noted that the move was a valuation call.

Several other equities analysts have also recently issued reports on TCMD. Guggenheim initiated coverage on Tactile Systems Technology in a report on Thursday, October 12th. They issued a “buy” rating and a $47.00 price objective for the company. Zacks Investment Research raised Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Thursday, August 10th. Canaccord Genuity reissued a “buy” rating and issued a $37.00 price objective (up previously from $28.00) on shares of Tactile Systems Technology in a report on Tuesday, August 8th. ValuEngine raised Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Finally, Northland Securities reissued a “hold” rating and issued a $31.50 price objective on shares of Tactile Systems Technology in a report on Monday, October 16th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $34.25.

Tactile Systems Technology (TCMD) traded down $0.20 during trading on Thursday, reaching $25.23. The company’s stock had a trading volume of 255,500 shares, compared to its average volume of 180,479. The stock has a market cap of $450.16, a P/E ratio of 169.53, a PEG ratio of 4.89 and a beta of -0.57. Tactile Systems Technology has a twelve month low of $14.37 and a twelve month high of $37.88.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The business had revenue of $28.28 million for the quarter, compared to the consensus estimate of $27.66 million. Tactile Systems Technology had a return on equity of 4.75% and a net margin of 5.84%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 EPS. research analysts predict that Tactile Systems Technology will post 0.26 earnings per share for the current fiscal year.

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In related news, VP Bryan Rishe sold 1,500 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $27.21, for a total value of $40,815.00. Following the completion of the transaction, the vice president now owns 105,307 shares of the company’s stock, valued at approximately $2,865,403.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Radius Venture Partners Iii, L sold 1,000,500 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $31.02, for a total value of $31,035,510.00. The disclosure for this sale can be found here. Insiders sold a total of 1,078,547 shares of company stock valued at $33,504,374 in the last ninety days. 49.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCMD. Peregrine Capital Management LLC acquired a new position in shares of Tactile Systems Technology during the third quarter valued at approximately $16,984,000. Russell Investments Group Ltd. grew its position in shares of Tactile Systems Technology by 12.2% in the third quarter. Russell Investments Group Ltd. now owns 522,050 shares of the company’s stock valued at $16,157,000 after purchasing an additional 56,565 shares in the last quarter. Gilder Gagnon Howe & Co. LLC grew its position in shares of Tactile Systems Technology by 6.8% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 466,903 shares of the company’s stock valued at $14,451,000 after purchasing an additional 29,912 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Tactile Systems Technology by 18.8% in the second quarter. Vanguard Group Inc. now owns 376,161 shares of the company’s stock valued at $10,750,000 after purchasing an additional 59,595 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its position in shares of Tactile Systems Technology by 108.3% in the second 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 in the last quarter. 48.53% of the stock is owned by institutional investors.

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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