Tactile Systems Technology (TCMD) Hits New 12-Month High and Low at $48.72

Tactile Systems Technology Inc. (NASDAQ:TCMD) shares hit a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $48.72 and last traded at $48.16, with a volume of 8254 shares traded. The stock had previously closed at $47.60.

A number of brokerages have issued reports on TCMD. Zacks Investment Research lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 11th. Piper Jaffray Companies increased their target price on shares of Tactile Systems Technology to $44.00 and gave the stock an “outperform” rating in a research report on Monday, May 7th. ValuEngine upgraded shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. BidaskClub upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 17th. Finally, Northland Securities lowered shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Tactile Systems Technology has a consensus rating of “Buy” and an average target price of $42.90.

The stock has a market capitalization of $848.04 million, a PE ratio of 226.19, a P/E/G ratio of 6.52 and a beta of 0.39.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Monday, May 7th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.13. The business had revenue of $26.85 million for the quarter, compared to analyst estimates of $23.72 million. Tactile Systems Technology had a net margin of 6.29% and a return on equity of 7.86%. The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. equities research analysts expect that Tactile Systems Technology Inc. will post 0.36 earnings per share for the current year.

In related news, Director William W. Burke sold 700 shares of the stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $45.86, for a total transaction of $32,102.00. Following the sale, the director now owns 7,679 shares in the company, valued at approximately $352,158.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Bryan Rishe sold 1,500 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $31.35, for a total transaction of $47,025.00. Following the sale, the senior vice president now owns 92,585 shares in the company, valued at approximately $2,902,539.75. The disclosure for this sale can be found here. Insiders have sold a total of 152,353 shares of company stock worth $5,229,005 in the last quarter. 8.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allianz Asset Management GmbH boosted its position in shares of Tactile Systems Technology by 2.4% during the 1st quarter. Allianz Asset Management GmbH now owns 174,121 shares of the company’s stock worth $5,537,000 after acquiring an additional 4,027 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Tactile Systems Technology by 4.1% during the 1st quarter. Principal Financial Group Inc. now owns 113,120 shares of the company’s stock worth $3,597,000 after acquiring an additional 4,500 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Tactile Systems Technology by 7.0% during the 1st quarter. Legal & General Group Plc now owns 27,074 shares of the company’s stock worth $853,000 after acquiring an additional 1,769 shares in the last quarter. Barclays PLC boosted its position in shares of Tactile Systems Technology by 172.8% during the 1st quarter. Barclays PLC now owns 8,739 shares of the company’s stock worth $277,000 after acquiring an additional 5,535 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in shares of Tactile Systems Technology by 11.3% during the 1st quarter. Lord Abbett & CO. LLC now owns 363,376 shares of the company’s stock worth $11,556,000 after acquiring an additional 36,989 shares in the last quarter. Institutional investors and hedge funds own 91.88% of the company’s stock.

Tactile Systems Technology Company Profile

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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