Tactile Systems Technology (NASDAQ:TCMD) Earns Buy Rating from Analysts at Piper Jaffray Companies

Piper Jaffray Companies assumed coverage on shares of Tactile Systems Technology (NASDAQ:TCMD) in a report issued on Monday morning, Stock Target Advisor reports. The firm issued a buy rating and a $70.00 price target on the stock.

Several other analysts have also recently weighed in on TCMD. BidaskClub upgraded Tactile Systems Technology from a sell rating to a hold rating in a report on Tuesday, November 5th. Zacks Investment Research lowered Tactile Systems Technology from a buy rating to a hold rating in a research note on Wednesday, November 6th. TheStreet raised Tactile Systems Technology from a d+ rating to a c+ rating in a research note on Monday, July 29th. BTIG Research raised Tactile Systems Technology from a neutral rating to a buy rating and set a $62.00 price target on the stock in a research note on Wednesday, August 7th. Finally, Oppenheimer initiated coverage on Tactile Systems Technology in a research note on Tuesday, October 22nd. They issued a market perform rating on the stock. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Tactile Systems Technology currently has a consensus rating of Buy and a consensus price target of $70.14.

Shares of NASDAQ:TCMD traded up $0.89 during midday trading on Monday, hitting $58.03. 159,078 shares of the stock were exchanged, compared to its average volume of 229,084. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 170.32, a P/E/G ratio of 7.28 and a beta of 2.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.56 and a current ratio of 4.26. The business’s 50-day moving average price is $47.05 and its 200 day moving average price is $50.83. Tactile Systems Technology has a 12 month low of $37.40 and a 12 month high of $76.63.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, November 4th. The company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The company had revenue of $49.60 million for the quarter, compared to analysts’ expectations of $45.47 million. Tactile Systems Technology had a return on equity of 9.41% and a net margin of 5.06%. The business’s quarterly revenue was up 36.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 earnings per share. As a group, sell-side analysts expect that Tactile Systems Technology will post 0.61 EPS for the current year.

In other news, Director Kevin H. Roche sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $50.87, for a total transaction of $254,350.00. Following the transaction, the director now directly owns 35,311 shares of the company’s stock, valued at $1,796,270.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert J. Folkes sold 2,106 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $50.85, for a total value of $107,090.10. Following the transaction, the chief operating officer now directly owns 84,172 shares in the company, valued at $4,280,146.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,904 shares of company stock worth $2,478,355. Insiders own 6.50% of the company’s stock.

Several large investors have recently modified their holdings of the company. Waddell & Reed Financial Inc. raised its position in shares of Tactile Systems Technology by 21.2% during the second quarter. Waddell & Reed Financial Inc. now owns 1,348,288 shares of the company’s stock worth $76,745,000 after purchasing an additional 235,921 shares during the period. Vanguard Group Inc. raised its position in shares of Tactile Systems Technology by 2.5% during the second quarter. Vanguard Group Inc. now owns 1,099,956 shares of the company’s stock worth $62,610,000 after purchasing an additional 26,410 shares during the period. Janus Henderson Group PLC raised its position in shares of Tactile Systems Technology by 5.9% during the second quarter. Janus Henderson Group PLC now owns 889,025 shares of the company’s stock worth $50,603,000 after purchasing an additional 49,721 shares during the period. Peregrine Capital Management LLC raised its position in shares of Tactile Systems Technology by 13.7% during the third quarter. Peregrine Capital Management LLC now owns 528,643 shares of the company’s stock worth $22,372,000 after purchasing an additional 63,795 shares during the period. Finally, Cortina Asset Management LLC raised its position in shares of Tactile Systems Technology by 16.5% during the second quarter. Cortina Asset Management LLC now owns 305,650 shares of the company’s stock worth $17,398,000 after purchasing an additional 43,399 shares during the period. 99.67% of the stock is currently owned by institutional investors.

About Tactile Systems Technology

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 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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Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

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