Zacks Investment Research upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a sell 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. “
A number of other analysts also recently issued reports on TCMD. Canaccord Genuity lifted their price target on Tactile Systems Technology from $37.00 to $42.00 and gave the stock a buy rating in a report on Tuesday, February 27th. Northland Securities cut Tactile Systems Technology from an outperform rating to a market perform rating in a research report on Tuesday, February 27th. BidaskClub upgraded Tactile Systems Technology from a sell rating to a hold rating in a research report on Saturday, January 20th. Sidoti began coverage on Tactile Systems Technology in a research report on Friday, December 8th. They set a neutral rating on the stock. Finally, Piper Jaffray Companies upgraded Tactile Systems Technology to a buy rating and set a $36.00 target price on the stock in a research report on Tuesday, February 20th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Tactile Systems Technology presently has an average rating of Hold and a consensus target price of $36.90.
Shares of Tactile Systems Technology (NASDAQ:TCMD) opened at $32.02 on Wednesday. The stock has a market capitalization of $574.68, a PE ratio of 106.74, a price-to-earnings-growth ratio of 5.91 and a beta of 0.11. Tactile Systems Technology has a fifty-two week low of $16.69 and a fifty-two week high of $37.88.
In related news, Director Kevin H. Roche sold 30,000 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $30.87, for a total value of $926,100.00. Following the transaction, the director now owns 81,784 shares in the company, valued at approximately $2,524,672.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert J. Folkes sold 1,500 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $32.47, for a total value of $48,705.00. Following the completion of the transaction, the chief operating officer now owns 119,403 shares in the company, valued at approximately $3,877,015.41. The disclosure for this sale can be found here. Insiders have sold 313,529 shares of company stock worth $9,818,640 in the last quarter. Insiders own 49.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Cadence Capital Management LLC increased its position in Tactile Systems Technology by 5.1% in the 3rd quarter. Cadence Capital Management LLC now owns 46,436 shares of the company’s stock valued at $1,437,000 after acquiring an additional 2,246 shares during the period. The Manufacturers Life Insurance Company increased its position in Tactile Systems Technology by 34.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 10,001 shares of the company’s stock valued at $290,000 after acquiring an additional 2,536 shares during the period. Bank of New York Mellon Corp increased its position in Tactile Systems Technology by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 79,247 shares of the company’s stock valued at $2,453,000 after acquiring an additional 2,992 shares during the period. Nationwide Fund Advisors increased its position in Tactile Systems Technology by 201.8% in the 2nd quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock valued at $148,000 after acquiring an additional 3,457 shares during the period. Finally, AWM Investment Company Inc. increased its position in Tactile Systems Technology by 0.9% in the 4th quarter. AWM Investment Company Inc. now owns 486,035 shares of the company’s stock valued at $14,085,000 after acquiring an additional 4,262 shares during the period. Hedge funds and other institutional investors own 89.72% of the company’s stock.
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Tactile Systems Technology Company Profile
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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