Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.
A number of other brokerages have also recently issued reports on TCMD. BTIG Research reduced their price objective on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings upgraded Tactile Systems Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, September 14th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.40.
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Tactile Systems Technology Stock Performance
Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.20. The company 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, research analysts predict that Tactile Systems Technology will post 1.1 EPS for the current year.
Insider Activity at Tactile Systems Technology
In other Tactile Systems Technology news, CEO Sheri Dodd sold 10,978 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the transaction, the chief executive officer directly owned 232,907 shares of the company’s stock, valued at approximately $6,856,782.08. The trade was a 4.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 corporate insiders.
Hedge Funds Weigh In On Tactile Systems Technology
A number of institutional investors have recently bought and sold shares of TCMD. First Light Asset Management LLC bought a new stake in Tactile Systems Technology during the 2nd quarter valued at approximately $13,775,000. Engineers Gate Manager LP bought a new position in shares of Tactile Systems Technology in the 2nd quarter worth approximately $400,000. IFP Advisors Inc lifted its stake in shares of Tactile Systems Technology by 24.3% in the 2nd quarter. IFP Advisors Inc now owns 3,606 shares of the company’s stock valued at $107,000 after purchasing an additional 704 shares during the period. Amundi lifted its stake in shares of Tactile Systems Technology by 9.2% in the 2nd quarter. Amundi now owns 19,761 shares of the company’s stock valued at $588,000 after purchasing an additional 1,659 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Tactile Systems Technology during the second quarter valued at approximately $3,607,000. 83.43% of the stock is owned by institutional investors.
Tactile Systems Technology Company Profile
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.
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