Tactile Systems Technology (NASDAQ:TCMD)‘s stock had its “hold” rating reissued by Northland Securities in a report issued on Friday. They presently have a $38.00 price target on the stock. Northland Securities’ price objective indicates a potential downside of 38.64% from the company’s previous close.

The analysts wrote, “We await further details on the quarterly call, and will adjust our ratings / PT accordingly. Key Points Here are the key things we look forward to gleaning from the quarterly call: What was the contribution from the large contracted payor signed up earlier? Were there any pull-forward” sales? Were there any bulk purchases from any segment, including the VA? How did OpEx stack up in the quarter? How does Q4 growth reconcile with implied guidance in company commentary from the Q3-18 call? We have accordingly tweaked our FY19 and FY20 numbers. For the time being, we maintain our rating & PT. Once we have a better understanding of the stability of Q4 growth drivers, we will accordingly make changes.””

Other equities research analysts have also recently issued research reports about the stock. ValuEngine raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a research report on Wednesday. BidaskClub raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. Zacks Investment Research cut shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Thursday. BTIG Research reiterated a “hold” rating on shares of Tactile Systems Technology in a research note on Tuesday, November 6th. Finally, Piper Jaffray Companies lifted their price objective on shares of Tactile Systems Technology to $80.00 and gave the stock a “positive” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Tactile Systems Technology currently has a consensus rating of “Buy” and an average target price of $65.50.

NASDAQ:TCMD traded up $0.49 during midday trading on Friday, reaching $61.93. 12,638 shares of the stock traded hands, compared to its average volume of 266,821. Tactile Systems Technology has a 12-month low of $27.81 and a 12-month high of $73.24. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 295.90, a PEG ratio of 13.87 and a beta of 1.74.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, November 5th. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.04. Tactile Systems Technology had a net margin of 4.92% and a return on equity of 8.53%. The company had revenue of $36.30 million during the quarter, compared to analysts’ expectations of $34.22 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. Tactile Systems Technology’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, equities analysts anticipate that Tactile Systems Technology will post 0.24 earnings per share for the current fiscal year.

In related news, SVP Bryan Rishe sold 3,000 shares of the firm’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $61.72, for a total transaction of $185,160.00. Following the completion of the transaction, the senior vice president now owns 70,328 shares of the company’s stock, valued at $4,340,644.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gerald R. Mattys sold 39,000 shares of the firm’s stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $64.26, for a total transaction of $2,506,140.00. Following the transaction, the chief executive officer now directly owns 333,129 shares of the company’s stock, valued at approximately $21,406,869.54. The disclosure for this sale can be found here. Insiders have sold 116,822 shares of company stock valued at $6,725,674 over the last quarter. Insiders own 8.70% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Northern Trust Corp raised its holdings in shares of Tactile Systems Technology by 26.6% during the second quarter. Northern Trust Corp now owns 205,629 shares of the company’s stock worth $10,693,000 after purchasing an additional 43,205 shares during the last quarter. Swiss National Bank increased its holdings in Tactile Systems Technology by 11.3% in the second quarter. Swiss National Bank now owns 26,700 shares of the company’s stock valued at $1,388,000 after buying an additional 2,700 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Tactile Systems Technology by 142.0% in the third quarter. Wells Fargo & Company MN now owns 264,634 shares of the company’s stock valued at $18,803,000 after buying an additional 155,289 shares in the last quarter. Legal & General Group Plc increased its holdings in Tactile Systems Technology by 9.9% in the second quarter. Legal & General Group Plc now owns 29,766 shares of the company’s stock valued at $1,547,000 after buying an additional 2,692 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Tactile Systems Technology in the second quarter valued at $11,777,000. 95.59% of the stock is owned by hedge funds and other institutional investors.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc is a medical technology company, which develops and provides innovative medical devices for the treatment of chronic diseases at home. The company focus on advancing the standard of care in treating chronic diseases in the home setting to improve patient outcomes and quality of life and help control rising healthcare expenditures.

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