Tactile Systems Technology (TCMD) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a hold rating in a research note released on Thursday.

According to Zacks, “Tactile Systems Technology, Inc. is a medical technology company which develops medical devices for the treatment of chronic diseases at home. The company’s product pipeline consists of Flexitouch System(R), the Entré System and the ACTitouch System (R). Tactile Systems Technology, Inc. is headquartered in Minneapolis, Minnesota. “

Several other analysts have also recently weighed in on TCMD. BidaskClub raised Tactile Systems Technology from a sell rating to a hold rating in a report on Wednesday, January 9th. ValuEngine upgraded Tactile Systems Technology from a hold rating to a buy rating in a research note on Wednesday, January 9th. Northland Securities upgraded Tactile Systems Technology from an under perform rating to a market perform rating in a research note on Wednesday, January 2nd. BTIG Research restated a hold rating on shares of Tactile Systems Technology in a research note on Tuesday, November 6th. Finally, Piper Jaffray Companies raised their price objective on Tactile Systems Technology to $80.00 and gave the stock a positive rating in a research note on Monday, January 7th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $65.50.



NASDAQ:TCMD opened at $62.13 on Thursday. The company has a market cap of $1.11 billion, a P/E ratio of 295.86, a PEG ratio of 13.87 and a beta of 1.74. Tactile Systems Technology has a 1-year low of $27.87 and a 1-year high of $73.24.

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

In other Tactile Systems Technology news, SVP Bryan Rishe sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $56.66, for a total transaction of $169,980.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Robert J. Folkes sold 2,483 shares of the firm’s stock in a transaction on Thursday, October 18th. The stock was sold at an average price of $65.82, for a total value of $163,431.06. Following the transaction, the chief operating officer now owns 115,719 shares in the company, valued at approximately $7,616,624.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,822 shares of company stock worth $6,540,514. Corporate insiders own 8.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue increased its stake in shares of Tactile Systems Technology by 4.1% in the 4th quarter. State of Alaska Department of Revenue now owns 5,621 shares of the company’s stock valued at $256,000 after purchasing an additional 220 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Tactile Systems Technology by 12.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the company’s stock valued at $526,000 after purchasing an additional 800 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in shares of Tactile Systems Technology by 611.9% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,075 shares of the company’s stock valued at $76,000 after purchasing an additional 924 shares during the last quarter. Texas Permanent School Fund increased its stake in shares of Tactile Systems Technology by 9.7% in the 3rd quarter. Texas Permanent School Fund now owns 10,496 shares of the company’s stock valued at $746,000 after purchasing an additional 931 shares during the last quarter. Finally, First Mercantile Trust Co. increased its stake in shares of Tactile Systems Technology by 57.1% in the 3rd quarter. First Mercantile Trust Co. now owns 2,696 shares of the company’s stock valued at $192,000 after purchasing an additional 980 shares during the last quarter. Institutional investors own 95.59% of the company’s stock.

About Tactile Systems Technology

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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