Tactile Systems Technology (NASDAQ:TCMD) Upgraded to “Hold” by Zacks Investment Research

Tactile Systems Technology (NASDAQ:TCMD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, March 14th.

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. “

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A number of other research analysts have also recently weighed in on TCMD. Sidoti started coverage on shares of Tactile Systems Technology in a research note on Friday, December 8th. They set a “neutral” rating on the stock. BidaskClub upgraded shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. Canaccord Genuity reiterated a “buy” rating and issued a $37.00 price target on shares of Tactile Systems Technology in a report on Wednesday, January 3rd. Piper Jaffray upgraded shares of Tactile Systems Technology to a “buy” rating and set a $36.00 price target on the stock in a report on Tuesday, February 20th. Finally, Northland Securities downgraded shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $36.90.

Shares of TCMD traded down $0.15 during trading hours on Wednesday, reaching $31.90. 117,835 shares of the stock traded hands, compared to its average volume of 160,886. Tactile Systems Technology has a 52-week low of $16.69 and a 52-week high of $37.88. The stock has a market cap of $575.25, a price-to-earnings ratio of 151.90, a price-to-earnings-growth ratio of 5.91 and a beta of 0.42.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, February 26th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. Tactile Systems Technology had a net margin of 5.36% and a return on equity of 6.09%. The company had revenue of $34.89 million for the quarter, compared to analysts’ expectations of $34.30 million. equities research analysts anticipate that Tactile Systems Technology will post 0.27 EPS for the current year.

In other news, COO Robert J. Folkes sold 2,482 shares of the business’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $31.80, for a total value of $78,927.60. Following the sale, the chief operating officer now directly owns 121,885 shares in the company, valued at approximately $3,875,943. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Bryan Rishe sold 1,500 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $30.92, for a total transaction of $46,380.00. Following the completion of the sale, the senior vice president now owns 93,145 shares in the company, valued at $2,880,043.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 266,216 shares of company stock worth $8,459,603. 49.90% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Tactile Systems Technology by 197.1% in the 4th quarter. BlackRock Inc. now owns 1,705,703 shares of the company’s stock worth $49,431,000 after buying an additional 1,131,497 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Tactile Systems Technology by 69.8% in the 4th quarter. Alliancebernstein L.P. now owns 956,008 shares of the company’s stock worth $27,705,000 after buying an additional 392,987 shares during the last quarter. Cortina Asset Management LLC increased its holdings in shares of Tactile Systems Technology by 280.0% in the 4th quarter. Cortina Asset Management LLC now owns 681,966 shares of the company’s stock worth $19,763,000 after buying an additional 502,497 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Tactile Systems Technology by 7.2% in the 4th quarter. Driehaus Capital Management LLC now owns 669,517 shares of the company’s stock worth $19,403,000 after buying an additional 45,006 shares during the last quarter. Finally, Peregrine Capital Management LLC increased its holdings in shares of Tactile Systems Technology by 9.7% in the 4th quarter. Peregrine Capital Management LLC now owns 602,223 shares of the company’s stock worth $17,452,000 after buying an additional 53,463 shares during the last quarter. Hedge funds and other institutional investors own 89.65% 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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