ValuEngine Downgrades Tactile Systems Technology (TCMD) to Hold

ValuEngine cut shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a hold rating in a report issued on Tuesday morning, ValuEngine reports.

Several other brokerages have also recently commented on TCMD. Canaccord Genuity boosted their price target on shares of Tactile Systems Technology from $55.00 to $80.00 and gave the stock a buy rating in a research note on Friday, March 1st. Zacks Investment Research cut shares of Tactile Systems Technology from a strong-buy rating to a hold rating in a research report on Tuesday, March 5th. BTIG Research reissued a hold rating on shares of Tactile Systems Technology in a research report on Tuesday, March 5th. BidaskClub raised shares of Tactile Systems Technology from a buy rating to a strong-buy rating in a research report on Thursday, February 14th. Finally, Northland Securities reissued a hold rating and set a $50.00 target price on shares of Tactile Systems Technology in a research report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $75.80.

Shares of TCMD stock opened at $49.54 on Tuesday. The firm has a market capitalization of $958.79 million, a price-to-earnings ratio of 145.71, a P/E/G ratio of 5.13 and a beta of 2.08. Tactile Systems Technology has a 52 week low of $37.40 and a 52 week high of $76.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.30 and a current ratio of 4.96.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.12) by $0.20. The business had revenue of $37.60 million for the quarter, compared to analysts’ expectations of $33.30 million. Tactile Systems Technology had a net margin of 5.27% and a return on equity of 8.17%. The business’s revenue was up 40.3% on a year-over-year basis. As a group, equities analysts expect that Tactile Systems Technology will post 0.5 earnings per share for the current fiscal year.

In other Tactile Systems Technology news, CEO Gerald R. Mattys sold 27,302 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $71.53, for a total transaction of $1,952,912.06. Following the transaction, the chief executive officer now owns 288,432 shares in the company, valued at approximately $20,631,540.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert J. Folkes sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $50.45, for a total transaction of $126,125.00. Following the transaction, the chief operating officer now owns 109,915 shares in the company, valued at approximately $5,545,211.75. The disclosure for this sale can be found here. Insiders have sold 67,351 shares of company stock valued at $4,282,859 in the last three months. 6.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of TCMD. Morgan Stanley grew its position in Tactile Systems Technology by 17.2% during the first quarter. Morgan Stanley now owns 106,573 shares of the company’s stock valued at $5,619,000 after buying an additional 15,608 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in Tactile Systems Technology during the first quarter valued at $57,000. SEI Investments Co grew its position in Tactile Systems Technology by 35.7% during the first quarter. SEI Investments Co now owns 21,576 shares of the company’s stock valued at $1,080,000 after buying an additional 5,672 shares during the period. Goldman Sachs Group Inc. grew its position in Tactile Systems Technology by 38.8% during the first quarter. Goldman Sachs Group Inc. now owns 116,880 shares of the company’s stock valued at $6,162,000 after buying an additional 32,657 shares during the period. Finally, Oxford Asset Management LLP acquired a new stake in Tactile Systems Technology during the first quarter valued at $894,000. Institutional investors and hedge funds own 96.78% of the company’s stock.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of chronic diseases in the United States. The company offers Flexitouch system, an at-home solution for lymphedema patients; and ACTitouch system, a home-based solution for chronic venous insufficiency patients.

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Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

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