Tactile Systems Technology Inc (TCMD) Receives $37.00 Average Target Price from Analysts

Shares of Tactile Systems Technology Inc (NASDAQ:TCMD) have been assigned a consensus rating of “Buy” from the nine ratings firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $37.00.

A number of research firms recently weighed in on TCMD. BidaskClub upgraded Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. BTIG Research upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating in a report on Thursday, November 9th. They noted that the move was a valuation call. Canaccord Genuity restated a “buy” rating and issued a $37.00 price objective on shares of Tactile Systems Technology in a report on Wednesday, January 3rd. Zacks Investment Research upgraded Tactile Systems Technology from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Friday, November 10th. Finally, Sidoti began coverage on Tactile Systems Technology in a report on Friday, December 8th. They issued a “neutral” rating for the company.

Tactile Systems Technology (NASDAQ:TCMD) traded down $0.37 during midday trading on Wednesday, reaching $31.13. The company had a trading volume of 181,700 shares, compared to its average volume of 188,894. The firm has a market capitalization of $551.06, a P/E ratio of 207.53, a price-to-earnings-growth ratio of 6.97 and a beta of -0.23. Tactile Systems Technology has a 1-year low of $15.92 and a 1-year high of $37.88.

In other Tactile Systems Technology news, SVP Bryan Rishe sold 1,500 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $29.34, for a total transaction of $44,010.00. Following the completion of the sale, the senior vice president now directly owns 102,307 shares in the company, valued at approximately $3,001,687.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin H. Roche sold 14,600 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $27.49, for a total value of $401,354.00. Following the sale, the director now owns 111,784 shares of the company’s stock, valued at $3,072,942.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 251,694 shares of company stock valued at $7,579,703. Company insiders own 49.90% of the company’s stock.

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in Tactile Systems Technology by 39.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock worth $127,000 after acquiring an additional 1,252 shares during the period. MetLife Investment Advisors LLC acquired a new stake in shares of Tactile Systems Technology in the 4th quarter valued at about $139,000. Nationwide Fund Advisors grew its stake in shares of Tactile Systems Technology by 201.8% in the 2nd quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock valued at $148,000 after buying an additional 3,457 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Tactile Systems Technology in the 4th quarter valued at about $158,000. Finally, Advisors Preferred LLC acquired a new stake in shares of Tactile Systems Technology in the 4th quarter valued at about $160,000. Hedge funds and other institutional investors own 84.94% of the company’s stock.

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Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc is a medical technology company that develops and provides medical devices for the treatment of chronic diseases at home. The Company is a manufacturer and distributor of the Flexitouch and Entre Systems, medical devices that help control symptoms of lymphedema, a chronic and progressive medical condition that is often an unintended consequence of cancer treatment, and the ACTitouch System, a medical device used to treat venous leg ulcers and chronic venous insufficiency.

Analyst Recommendations for Tactile Systems Technology (NASDAQ:TCMD)

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