Tactile Systems Technology (TCMD) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a hold rating in a research note released on Wednesday.
According to Zacks, “Tactile Systems Technology, Inc. is a medical technology company which develops medical devices for the treatment of chronic diseases at home. The company’s product pipeline consists of Flexitouch System(R), the Entré System and the ACTitouch System (R). Tactile Systems Technology, Inc. is headquartered in Minneapolis, Minnesota. “
Several other equities analysts have also issued reports on the company. Northland Securities lowered Tactile Systems Technology from an outperform rating to a market perform rating in a research report on Tuesday. Canaccord Genuity raised their price target on Tactile Systems Technology from $37.00 to $42.00 and gave the stock a buy rating in a research report on Tuesday. Piper Jaffray Companies upgraded Tactile Systems Technology to a buy rating and set a $36.00 price target on the stock in a research report on Tuesday, February 20th. BidaskClub upgraded Tactile Systems Technology from a sell rating to a hold rating in a research report on Saturday, January 20th. Finally, Sidoti assumed coverage on Tactile Systems Technology in a research report on Friday, December 8th. They set a neutral rating on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $35.08.
In other Tactile Systems Technology news, Director Cheryl Pegus acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were purchased at an average cost of $27.86 per share, for a total transaction of $27,860.00. Following the transaction, the director now owns 2,184 shares in the company, valued at $60,846.24. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jordan Davis sold 75,000 shares of Tactile Systems Technology stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $32.00, for a total value of $2,400,000.00. Following the completion of the sale, the director now owns 5,006 shares in the company, valued at $160,192. The disclosure for this sale can be found here. Over the last quarter, insiders sold 331,509 shares of company stock worth $10,249,200. Corporate insiders own 49.90% of the company’s stock.
Several hedge funds have recently modified their holdings of TCMD. MetLife Investment Advisors LLC bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth approximately $139,000. Nationwide Fund Advisors grew its position in shares of Tactile Systems Technology by 201.8% in the 2nd quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock worth $148,000 after buying an additional 3,457 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth approximately $158,000. Advisors Preferred LLC bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth approximately $160,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Tactile Systems Technology by 10,882.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock worth $213,000 after buying an additional 7,400 shares during the last quarter. Hedge funds and other institutional investors own 84.94% 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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