Tactile Systems Technology, Inc. (TCMD) Receives New Coverage from Analysts at Northland Securities
Northland Securities began coverage on shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) in a research note issued to investors on Tuesday. The brokerage issued a market perform rating on the stock.
A number of other equities research analysts have also issued reports on the company. Guggenheim began coverage on Tactile Systems Technology in a research note on Thursday, October 12th. They issued a buy rating and a $47.00 target price on the stock. Zacks Investment Research lowered Tactile Systems Technology from a buy rating to a hold rating in a research note on Wednesday, October 11th. BTIG Research lowered Tactile Systems Technology from a buy rating to a neutral rating in a research note on Monday, September 18th. Canaccord Genuity reaffirmed a buy rating and issued a $37.00 target price (up previously from $28.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 8th. Finally, Piper Jaffray Companies upped their target price on Tactile Systems Technology from $30.00 to $36.00 and gave the company an overweight rating in a research note on Tuesday, August 8th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Tactile Systems Technology currently has a consensus rating of Hold and an average price target of $35.75.
Shares of Tactile Systems Technology (TCMD) traded up 1.52% during trading on Tuesday, reaching $30.65. The company’s stock had a trading volume of 88,083 shares. The company has a 50 day moving average price of $32.80 and a 200 day moving average price of $27.32. The firm has a market capitalization of $539.01 million, a P/E ratio of 116.10 and a beta of -0.07. Tactile Systems Technology has a 52 week low of $14.37 and a 52 week high of $37.88.
Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, August 7th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $26.30 million for the quarter, compared to analysts’ expectations of $23.88 million. Tactile Systems Technology had a return on equity of 3.05% and a net margin of 4.97%. The company’s revenue was up 33.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 EPS. On average, equities research analysts expect that Tactile Systems Technology will post $0.27 EPS for the current fiscal year.
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In other news, COO Robert J. Folkes sold 2,955 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $29.43, for a total transaction of $86,965.65. Following the completion of the sale, the chief operating officer now directly owns 132,792 shares in the company, valued at $3,908,068.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Bryan Rishe sold 1,500 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $30.41, for a total value of $45,615.00. Following the sale, the vice president now owns 110,807 shares of the company’s stock, valued at $3,369,640.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,078,547 shares of company stock valued at $33,514,042. 49.90% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of Tactile Systems Technology during the second quarter valued at about $13,304,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Tactile Systems Technology during the second quarter valued at about $12,489,000. Driehaus Capital Management LLC grew its stake in shares of Tactile Systems Technology by 32.1% during the first quarter. Driehaus Capital Management LLC now owns 427,166 shares of the company’s stock valued at $8,095,000 after acquiring an additional 103,890 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Tactile Systems Technology by 18.8% during the second quarter. Vanguard Group Inc. now owns 376,161 shares of the company’s stock valued at $10,750,000 after acquiring an additional 59,595 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in shares of Tactile Systems Technology by 108.3% during the second quarter. Lord Abbett & CO. LLC now owns 371,980 shares of the company’s stock valued at $10,631,000 after acquiring an additional 193,429 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.
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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