Tactile Systems Technology Inc (NASDAQ:TCMD) has been assigned a consensus rating of “Buy” from the eight research firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $65.50.

A number of equities research analysts recently weighed in on the company. BidaskClub raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 2nd. BTIG Research reaffirmed a “hold” rating on shares of Tactile Systems Technology in a research report on Tuesday, November 6th. Zacks Investment Research downgraded Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research report on Saturday, October 27th. Northland Securities reiterated a “hold” rating and issued a $38.00 price target on shares of Tactile Systems Technology in a research note on Friday. Finally, ValuEngine upgraded shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a report on Wednesday.

Shares of TCMD traded up $0.81 during trading on Friday, reaching $62.25. The company’s stock had a trading volume of 17,065 shares, compared to its average volume of 266,821. Tactile Systems Technology has a twelve month low of $27.81 and a twelve month high of $73.24. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 295.86, a PEG ratio of 13.87 and a beta of 1.74.

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

In related news, SVP Bryan Rishe sold 3,000 shares of Tactile Systems Technology stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $61.72, for a total transaction of $185,160.00. Following the completion of the sale, the senior vice president now owns 70,328 shares in the company, valued at approximately $4,340,644.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert J. Folkes sold 2,483 shares of the firm’s stock in a transaction dated Thursday, October 18th. The shares were sold at an average price of $65.82, for a total transaction of $163,431.06. Following the transaction, the chief operating officer now directly owns 115,719 shares in the company, valued at approximately $7,616,624.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,822 shares of company stock valued at $6,725,674. 8.70% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Tactile Systems Technology by 31.8% in the second quarter. BlackRock Inc. now owns 2,351,300 shares of the company’s stock valued at $122,266,000 after purchasing an additional 566,881 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Tactile Systems Technology during the second quarter worth approximately $11,777,000. Wells Fargo & Company MN lifted its holdings in shares of Tactile Systems Technology by 142.0% during the third quarter. Wells Fargo & Company MN now owns 264,634 shares of the company’s stock worth $18,803,000 after purchasing an additional 155,289 shares during the period. Rehmann Capital Advisory Group lifted its holdings in shares of Tactile Systems Technology by 50,481.5% during the third quarter. Rehmann Capital Advisory Group now owns 76,378 shares of the company’s stock worth $1,075,000 after purchasing an additional 76,227 shares during the period. Finally, Castleark Management LLC acquired a new stake in Tactile Systems Technology in the third quarter valued at $4,885,000. 95.59% of the stock is owned by institutional investors.

Tactile Systems Technology Company Profile

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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