Tactile Systems Technology (NASDAQ:TCMD) Stock Rating Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Tactile Systems Technology (NASDAQ:TCMD) from a strong-buy rating to a buy rating in a research report released on Sunday,Wall Street Zen reports.

Several other equities analysts have also issued reports on TCMD. Weiss Ratings lowered Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, November 3rd. BTIG Research cut their price objective on shares of Tactile Systems Technology from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, November 3rd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Tactile Systems Technology Stock Performance

Shares of NASDAQ:TCMD opened at $26.03 on Friday. The stock has a fifty day simple moving average of $22.93 and a two-hundred day simple moving average of $25.82. The stock has a market capitalization of $581.51 million, a price-to-earnings ratio of 25.27 and a beta of 0.95. Tactile Systems Technology has a 12-month low of $20.53 and a 12-month high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, November 2nd. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Tactile Systems Technology had a return on equity of 10.73% and a net margin of 6.68%. The firm had revenue of $91.86 million for the quarter, compared to analysts’ expectations of $91.99 million. As a group, equities research analysts predict that Tactile Systems Technology will post 1.11 EPS for the current year.

Insiders Place Their Bets

In related news, Director Laura G. King sold 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $25.00, for a total value of $120,000.00. Following the transaction, the director directly owned 20,769 shares of the company’s stock, valued at approximately $519,225. This represents a 18.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Tactile Systems Technology

Several institutional investors have recently added to or reduced their stakes in TCMD. Bank of New York Mellon Corp purchased a new stake in shares of Tactile Systems Technology during the 2nd quarter valued at about $4,561,000. Empowered Funds LLC purchased a new position in shares of Tactile Systems Technology during the second quarter valued at approximately $3,607,000. BlackRock Inc. purchased a new position in shares of Tactile Systems Technology during the second quarter valued at approximately $56,733,000. Punch & Associates Investment Management Inc. purchased a new position in shares of Tactile Systems Technology during the second quarter valued at approximately $9,381,000. Finally, Deutsche Bank AG bought a new position in Tactile Systems Technology during the second quarter valued at approximately $5,145,000. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

About Tactile Systems Technology

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.