Tactile Systems Technology (TCMD) Upgraded to Hold at BidaskClub
Tactile Systems Technology (NASDAQ:TCMD) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Thursday.
A number of other equities research analysts have also issued reports on TCMD. Sidoti began coverage on shares of Tactile Systems Technology in a report on Friday, December 8th. They set a “neutral” rating on the stock. Northland Securities restated a “hold” rating and set a $31.50 price target on shares of Tactile Systems Technology in a report on Monday, October 16th. Zacks Investment Research lowered shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. BTIG Research raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating in a research report on Thursday, November 9th. They noted that the move was a valuation call. Finally, Guggenheim assumed coverage on shares of Tactile Systems Technology in a research report on Thursday, October 12th. They set a “buy” rating and a $47.00 price objective on the stock. Four 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 company. Tactile Systems Technology currently has a consensus rating of “Buy” and a consensus target price of $34.25.
Shares of Tactile Systems Technology (NASDAQ TCMD) opened at $29.39 on Thursday. Tactile Systems Technology has a 1-year low of $14.37 and a 1-year high of $37.88. The stock has a market cap of $491.05, a P/E ratio of 184.93, a PEG ratio of 4.14 and a beta of -0.69.
Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The business had revenue of $28.28 million for the quarter, compared to analyst estimates of $27.66 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. The firm’s revenue was up 25.0% compared to the same quarter last year. equities research analysts forecast that Tactile Systems Technology will post 0.34 earnings per share for the current fiscal year.
In related news, CEO Gerald R. Mattys sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $27.00, for a total transaction of $1,080,000.00. Following the transaction, the chief executive officer now directly owns 334,013 shares of the company’s stock, valued at $9,018,351. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Bryan Rishe sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $32.86, for a total transaction of $49,290.00. Following the completion of the sale, the vice president now directly owns 109,807 shares of the company’s stock, valued at $3,608,258.02. The disclosure for this sale can be found here. Insiders have sold 1,099,205 shares of company stock worth $33,745,585 over the last ninety days. 49.90% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of TCMD. Peregrine Capital Management LLC bought a new stake in Tactile Systems Technology in the third quarter worth approximately $16,984,000. Koch Industries Inc. bought a new stake in Tactile Systems Technology in the second quarter worth approximately $217,000. Lord Abbett & CO. LLC grew its position in Tactile Systems Technology by 108.3% in the second quarter. Lord Abbett & CO. LLC now owns 371,980 shares of the company’s stock worth $10,631,000 after acquiring an additional 193,429 shares in the last quarter. Pier Capital LLC bought a new stake in Tactile Systems Technology in the third quarter worth approximately $5,635,000. Finally, Cortina Asset Management LLC bought a new stake in Tactile Systems Technology in the third quarter worth approximately $5,555,000. 71.68% 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.
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