Tactile Systems Technology Inc (NASDAQ:TCMD) reached a new 52-week high during trading on Friday . The stock traded as high as $60.26 and last traded at $60.19, with a volume of 206294 shares trading hands. The stock had previously closed at $58.32.

Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Tactile Systems Technology from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. BidaskClub raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Friday, August 10th. Canaccord Genuity increased their target price on shares of Tactile Systems Technology from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, June 25th. BTIG Research lowered shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Monday, June 4th. They noted that the move was a valuation call. Finally, Piper Jaffray Companies increased their target price on shares of Tactile Systems Technology to $53.00 and gave the stock an “overweight” rating in a report on Friday, June 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Tactile Systems Technology currently has a consensus rating of “Hold” and a consensus price target of $49.30.

The firm has a market capitalization of $1.05 billion, a PE ratio of 286.62, a P/E/G ratio of 8.05 and a beta of 0.44.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.09. The company had revenue of $34.10 million during the quarter, compared to analyst estimates of $31.49 million. Tactile Systems Technology had a net margin of 4.91% and a return on equity of 8.41%. The firm’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS. equities research analysts predict that Tactile Systems Technology Inc will post 0.36 EPS for the current fiscal year.

In other Tactile Systems Technology news, SVP Bryan Rishe sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $57.52, for a total value of $172,560.00. Following the completion of the transaction, the senior vice president now directly owns 76,428 shares in the company, valued at approximately $4,396,138.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert J. Folkes sold 3,044 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $49.78, for a total value of $151,530.32. Following the completion of the transaction, the chief operating officer now owns 121,280 shares of the company’s stock, valued at $6,037,318.40. The disclosure for this sale can be found here. Insiders sold a total of 118,909 shares of company stock valued at $6,444,418 over the last three months. 8.70% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Allianz Asset Management GmbH boosted its stake in Tactile Systems Technology by 2.4% in the 1st quarter. Allianz Asset Management GmbH now owns 174,121 shares of the company’s stock worth $5,537,000 after purchasing an additional 4,027 shares during the period. Rhumbline Advisers boosted its stake in Tactile Systems Technology by 11.4% in the 1st quarter. Rhumbline Advisers now owns 31,907 shares of the company’s stock worth $1,015,000 after purchasing an additional 3,273 shares during the period. Principal Financial Group Inc. boosted its stake in Tactile Systems Technology by 4.1% in the 1st quarter. Principal Financial Group Inc. now owns 113,120 shares of the company’s stock worth $3,597,000 after purchasing an additional 4,500 shares during the period. Legal & General Group Plc boosted its stake in Tactile Systems Technology by 7.0% in the 1st quarter. Legal & General Group Plc now owns 27,074 shares of the company’s stock worth $853,000 after purchasing an additional 1,769 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in Tactile Systems Technology by 14.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 70,134 shares of the company’s stock worth $2,231,000 after purchasing an additional 8,807 shares during the period. Institutional investors and hedge funds own 90.80% of the company’s stock.

About Tactile Systems Technology (NASDAQ:TCMD)

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of chronic diseases in the United States. The company offers proprietary Flexitouch system, an at-home solution for lymphedema patients; and ACTitouch system, a home-based solution for chronic venous insufficiency patients.

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