Tactile Systems Technology (NASDAQ:TCMD) PT Raised to $84.00 at Piper Jaffray Companies

Tactile Systems Technology (NASDAQ:TCMD) had its price target increased by equities researchers at Piper Jaffray Companies to $84.00 in a report released on Monday, May 6th, The Fly reports. The firm presently has an “overweight” rating on the stock. Piper Jaffray Companies’ target price indicates a potential upside of 74.89% from the stock’s previous close. Piper Jaffray Companies also issued estimates for Tactile Systems Technology’s Q2 2019 earnings at $0.09 EPS, Q3 2019 earnings at $0.10 EPS, Q4 2019 earnings at $0.28 EPS, FY2019 earnings at $0.55 EPS, Q1 2020 earnings at ($0.05) EPS, Q2 2020 earnings at $0.14 EPS, Q3 2020 earnings at $0.16 EPS, Q4 2020 earnings at $0.36 EPS, FY2020 earnings at $0.62 EPS and FY2021 earnings at $0.96 EPS.

Several other research firms also recently commented on TCMD. Canaccord Genuity upped their target price on Tactile Systems Technology from $55.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Zacks Investment Research downgraded 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 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 $38.00 price target on shares of Tactile Systems Technology in a research report on Friday, January 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $75.80.

TCMD traded down $2.01 on Monday, hitting $48.03. 122,400 shares of the company were exchanged, compared to its average volume of 286,889. Tactile Systems Technology has a 12 month low of $37.40 and a 12 month high of $76.63. The firm has a market capitalization of $918.69 million, a PE ratio of 141.26, a PEG ratio of 4.91 and a beta of 2.08. 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 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.20. The firm had revenue of $37.60 million for the quarter, compared to the consensus estimate of $33.30 million. Tactile Systems Technology had a return on equity of 8.17% and a net margin of 5.27%. The business’s revenue for the quarter was up 40.3% on a year-over-year basis. On average, research analysts forecast that Tactile Systems Technology will post 0.5 earnings per share for the current year.

In other Tactile Systems Technology news, COO Robert J. Folkes sold 2,500 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $70.36, for a total transaction of $175,900.00. Following the completion of the sale, the chief operating officer now directly owns 111,654 shares in the company, valued at approximately $7,855,975.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Robert J. Folkes sold 10,607 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $50.00, for a total value of $530,350.00. Following the completion of the sale, the chief operating officer now owns 96,808 shares of the company’s stock, valued at $4,840,400. The disclosure for this sale can be found here. Insiders sold a total of 47,612 shares of company stock valued at $2,650,261 over the last quarter. 6.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in TCMD. Jennison Associates LLC raised its holdings in shares of Tactile Systems Technology by 2.0% in the 4th quarter. Jennison Associates LLC now owns 8,394 shares of the company’s stock worth $382,000 after purchasing an additional 161 shares during the period. Bank of Montreal Can grew its stake in Tactile Systems Technology by 3.4% in the 4th quarter. Bank of Montreal Can now owns 4,987 shares of the company’s stock valued at $227,000 after buying an additional 162 shares in the last quarter. State of Alaska Department of Revenue grew its stake in 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 buying an additional 220 shares in the last quarter. Mason Street Advisors LLC grew its stake in Tactile Systems Technology by 4.9% in the 1st quarter. Mason Street Advisors LLC now owns 5,477 shares of the company’s stock valued at $289,000 after buying an additional 256 shares in the last quarter. Finally, Neuburgh Advisers LLC grew its position in shares of Tactile Systems Technology by 22.2% during the 4th quarter. Neuburgh Advisers LLC now owns 1,760 shares of the company’s stock valued at $80,000 after purchasing an additional 320 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

About Tactile Systems Technology

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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