Tactile Systems Technology (NASDAQ:TCMD) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Other research analysts have also recently issued reports about the company. BTIG Research reaffirmed a “hold” rating on shares of Tactile Systems Technology in a report on Tuesday, November 6th. Zacks Investment Research cut Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Saturday, October 27th. Northland Securities reaffirmed a “hold” rating and issued a $38.00 price target on shares of Tactile Systems Technology in a report on Friday, January 11th. ValuEngine raised Tactile Systems Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 9th. Finally, Piper Jaffray Companies lifted their price target on Tactile Systems Technology to $80.00 and gave the company a “positive” rating in a report on Monday, January 7th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.50.

Shares of NASDAQ TCMD opened at $64.21 on Tuesday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 304.86, a P/E/G ratio of 14.59 and a beta of 1.74. Tactile Systems Technology has a 52-week low of $27.87 and a 52-week high of $73.24.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, November 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.04. The company had revenue of $36.30 million during the quarter, compared to analysts’ expectations of $34.22 million. Tactile Systems Technology had a return on equity of 8.53% and a net margin of 4.92%. The business’s revenue was up 28.3% on a year-over-year basis. During the same period last year, the business earned $0.07 earnings per share. On average, equities research analysts anticipate that Tactile Systems Technology will post 0.24 EPS for the current year.

In other news, CFO Brent Moen acquired 900 shares of the stock in a transaction that occurred on Tuesday, November 20th. The stock was purchased at an average cost of $54.22 per share, for a total transaction of $48,798.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert J. Folkes sold 3,043 shares of Tactile Systems Technology stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $65.29, for a total value of $198,677.47. Following the completion of the sale, the chief operating officer now owns 116,279 shares of the company’s stock, valued at $7,591,855.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,839 shares of company stock valued at $4,498,988. Corporate insiders own 8.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Rehmann Capital Advisory Group increased its position in Tactile Systems Technology by 611.9% in the third quarter. Rehmann Capital Advisory Group now owns 1,075 shares of the company’s stock worth $76,000 after purchasing an additional 924 shares during the period. Riverhead Capital Management LLC acquired a new position in shares of Tactile Systems Technology during the 3rd quarter worth about $156,000. SG Americas Securities LLC acquired a new position in shares of Tactile Systems Technology during the 2nd quarter worth about $175,000. First Mercantile Trust Co. grew its position in shares of Tactile Systems Technology by 57.1% during the 3rd quarter. First Mercantile Trust Co. now owns 2,696 shares of the company’s stock worth $192,000 after buying an additional 980 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Tactile Systems Technology during the 2nd quarter worth about $208,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

About Tactile Systems Technology

Tactile Systems Technology, Inc is a medical technology company, which develops and provides innovative medical devices for the treatment of chronic diseases at home. The company focus on advancing the standard of care in treating chronic diseases in the home setting to improve patient outcomes and quality of life and help control rising healthcare expenditures.

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