Zacks Investment Research cut shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) from a buy rating to a hold rating in a report published on Saturday, June 17th.

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 EntrĂ© System and the ACTitouch System (R). Tactile Systems Technology, Inc. is headquartered in Minneapolis, Minnesota. “

A number of other brokerages have also issued reports on TCMD. BTIG Research reissued a buy rating and set a $26.00 target price on shares of Tactile Systems Technology in a research note on Friday, March 10th. Canaccord Genuity restated a buy rating on shares of Tactile Systems Technology in a report on Tuesday, February 28th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Tactile Systems Technology has an average rating of Buy and a consensus price target of $24.25.

Shares of Tactile Systems Technology (NASDAQ:TCMD) traded up 3.00% during trading on Friday, reaching $30.95. 151,301 shares of the company traded hands. The company’s 50-day moving average price is $25.23 and its 200-day moving average price is $19.34. Tactile Systems Technology has a 52 week low of $10.00 and a 52 week high of $31.40. The company has a market capitalization of $524.29 million and a P/E ratio of 57.31.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Monday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.05. The firm had revenue of $19.85 million for the quarter, compared to analysts’ expectations of $16.17 million. Tactile Systems Technology had a net margin of 2.24% and a return on equity of 4.82%. The company’s revenue for the quarter was up 44.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.45) earnings per share. Equities research analysts forecast that Tactile Systems Technology will post $0.13 EPS for the current fiscal year.

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In other Tactile Systems Technology news, VP Bryan Rishe sold 1,500 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $18.62, for a total value of $27,930.00. Following the completion of the sale, the vice president now directly owns 102,722 shares of the company’s stock, valued at approximately $1,912,683.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Galen Partners V. Lp sold 325,000 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $21.25, for a total value of $6,906,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,330,897 shares of company stock worth $32,839,590. Insiders own 49.90% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Spark Investment Management LLC raised its stake in Tactile Systems Technology by 29.7% in the first quarter. Spark Investment Management LLC now owns 94,000 shares of the company’s stock worth $1,781,000 after buying an additional 21,500 shares in the last quarter. Wells Fargo & Company MN raised its position in Tactile Systems Technology by 1,896.9% in the first quarter. Wells Fargo & Company MN now owns 59,389 shares of the company’s stock valued at $1,125,000 after buying an additional 56,415 shares during the period. Trexquant Investment LP purchased a new position in Tactile Systems Technology during the first quarter valued at approximately $224,000. GSA Capital Partners LLP purchased a new position in Tactile Systems Technology during the fourth quarter valued at approximately $379,000. Finally, Ranger Investment Management L.P. purchased a new position in Tactile Systems Technology during the first quarter valued at approximately $1,261,000. 29.92% of the stock is currently owned by institutional investors.

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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