Tactile Systems Technology (NASDAQ:TCMD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other research analysts have also recently commented on TCMD. Weiss Ratings raised shares of Tactile Systems Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, September 14th. BTIG Research cut their price target on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Tactile Systems Technology currently has a consensus rating of “Moderate Buy” and an average target price of $38.40.

Tactile Systems Technology Stock Performance

TCMD stock opened at $22.82 on Friday. Tactile Systems Technology has a 52 week low of $13.48 and a 52 week high of $37.77. The company has a market capitalization of $516.87 million, a PE ratio of 21.13 and a beta of 0.80. The company’s 50-day simple moving average is $24.61 and its 200 day simple moving average is $25.64.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.20. The business had revenue of $85.70 million during the quarter, compared to analysts’ expectations of $85.52 million. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. On average, analysts forecast that Tactile Systems Technology will post 1.1 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sheri Dodd sold 10,978 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the completion of the sale, the chief executive officer owned 232,907 shares of the company’s stock, valued at $6,856,782.08. This represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tactile Systems Technology

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Tactile Systems Technology during the 2nd quarter worth approximately $56,733,000. Renaissance Technologies LLC increased its stake in Tactile Systems Technology by 32.3% in the first quarter. Renaissance Technologies LLC now owns 510,897 shares of the company’s stock valued at $13,350,000 after acquiring an additional 124,597 shares during the last quarter. First Light Asset Management LLC bought a new position in Tactile Systems Technology in the second quarter valued at approximately $13,775,000. Jupiter Topco LLC bought a new position in Tactile Systems Technology in the second quarter valued at approximately $11,831,000. Finally, Next Century Growth Investors LLC acquired a new position in Tactile Systems Technology during the fourth quarter valued at approximately $11,309,000. 83.43% of the stock is owned by institutional investors.

About Tactile Systems Technology

Tactile Systems Technology, Inc, doing business as Tactile Medical, develops and provides medical devices designed to help manage chronic conditions involving the circulatory and lymphatic systems. The company focuses primarily on home-based therapy for lymphedema, chronic venous insufficiency and related conditions.

Its portfolio includes pneumatic compression systems such as the Flexitouch Plus system for lymphedema and the Entre Plus system for treating lymphedema and chronic venous insufficiency.