Sidoti initiated coverage on shares of Tactile Systems Technology (NASDAQ:TCMD) in a report released on Friday morning, Marketbeat.com reports. The firm issued a neutral rating on the stock.

Several other research analysts have also recently issued reports on the stock. Guggenheim initiated coverage on shares of Tactile Systems Technology in a report on Thursday, October 12th. They issued a buy rating and a $47.00 price objective for the company. BTIG Research cut shares of Tactile Systems Technology from a buy rating to a neutral rating in a report on Monday, September 18th. Zacks Investment Research upgraded shares of Tactile Systems Technology from a hold rating to a strong-buy rating and set a $28.00 price objective for the company in a report on Friday, November 10th. Finally, Northland Securities began coverage on shares of Tactile Systems Technology in a report on Tuesday, October 17th. They issued a market perform rating for the company. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Tactile Systems Technology presently has an average rating of Buy and an average target price of $34.25.

Tactile Systems Technology (NASDAQ TCMD) opened at $27.53 on Friday. The stock has a market cap of $487.34, a P/E ratio of 183.53, a PEG ratio of 4.51 and a beta of -0.69. Tactile Systems Technology has a 1-year low of $14.37 and a 1-year high of $37.88.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The business had revenue of $28.28 million during the quarter, compared to analysts’ expectations of $27.66 million. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The business’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the firm posted $0.01 earnings per share. sell-side analysts expect that Tactile Systems Technology will post 0.31 EPS for the current fiscal year.

In related news, VP Bryan Rishe sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $32.86, for a total transaction of $49,290.00. Following the completion of the sale, the vice president now directly owns 109,807 shares in the company, valued at $3,608,258.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Radius Venture Partners Iii, L sold 1,000,500 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $31.02, for a total transaction of $31,035,510.00. The disclosure for this sale can be found here. Insiders have sold 1,084,605 shares of company stock valued at $33,344,231 over the last 90 days. 49.90% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of TCMD. Vanguard Group Inc. lifted its position in shares of Tactile Systems Technology by 109.6% in the 1st quarter. Vanguard Group Inc. now owns 316,566 shares of the company’s stock valued at $5,999,000 after acquiring an additional 165,506 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Tactile Systems Technology by 17.2% in the 1st quarter. Geode Capital Management LLC now owns 70,704 shares of the company’s stock valued at $1,339,000 after acquiring an additional 10,377 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Tactile Systems Technology in the 1st quarter valued at approximately $2,789,000. Bank of America Corp DE lifted its position in shares of Tactile Systems Technology by 1,118.5% in the 1st quarter. Bank of America Corp DE now owns 6,982 shares of the company’s stock valued at $133,000 after acquiring an additional 6,409 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Tactile Systems Technology in the 2nd quarter valued at approximately $146,000. Hedge funds and other institutional investors own 71.68% 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.

Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

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