Tactile Systems Technology Inc (NASDAQ:TCMD) has been given an average recommendation of “Hold” by the nine analysts that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $41.67.
TCMD has been the topic of several analyst reports. BidaskClub upgraded shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. Sidoti began coverage on shares of Tactile Systems Technology in a report on Friday, December 8th. They set a “neutral” rating for the company. Canaccord Genuity upped their target price on shares of Tactile Systems Technology from $37.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Piper Jaffray Companies raised shares of Tactile Systems Technology to a “buy” rating and set a $36.00 target price for the company in a report on Tuesday, February 20th. Finally, Zacks Investment Research raised shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Wednesday.
In related news, COO Robert J. Folkes sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $28.32, for a total transaction of $42,480.00. Following the completion of the transaction, the chief operating officer now owns 119,777 shares in the company, valued at $3,392,084.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jordan Davis sold 75,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $32.00, for a total transaction of $2,400,000.00. Following the transaction, the director now owns 5,006 shares of the company’s stock, valued at approximately $160,192. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 313,529 shares of company stock valued at $9,818,640. 49.90% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of TCMD. Alliancebernstein L.P. bought a new position in shares of Tactile Systems Technology during the second quarter worth $266,000. Teachers Advisors LLC boosted its position in shares of Tactile Systems Technology by 274.4% during the second quarter. Teachers Advisors LLC now owns 16,511 shares of the company’s stock worth $472,000 after acquiring an additional 12,101 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Tactile Systems Technology by 237.1% during the second quarter. TIAA CREF Investment Management LLC now owns 24,897 shares of the company’s stock worth $712,000 after acquiring an additional 17,512 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Tactile Systems Technology by 201.8% during the second quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock worth $148,000 after acquiring an additional 3,457 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in Tactile Systems Technology by 258.0% during the second quarter. New York State Common Retirement Fund now owns 15,040 shares of the company’s stock valued at $430,000 after purchasing an additional 10,839 shares during the last quarter. Hedge funds and other institutional investors own 89.72% of the company’s stock.
Shares of Tactile Systems Technology (NASDAQ TCMD) traded up $0.09 during midday trading on Friday, hitting $32.02. 272,222 shares of the stock traded hands, compared to its average volume of 213,408. The company has a market capitalization of $571.98 and a P/E ratio of 88.28. Tactile Systems Technology has a 52-week low of $16.69 and a 52-week high of $37.88.
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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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