Tactile Systems Technology (NASDAQ:TCMD) Receives New Coverage from Analysts at Piper Jaffray Companies

Stock analysts at Piper Jaffray Companies began coverage on shares of Tactile Systems Technology (NASDAQ:TCMD) in a research note issued on Monday, TipRanks reports. The firm set a “buy” rating and a $70.00 price target on the stock. Piper Jaffray Companies’ price objective indicates a potential upside of 22.51% from the company’s current price.

Several other equities analysts have also weighed in on TCMD. BTIG Research upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Wednesday, August 7th. Oppenheimer initiated coverage on Tactile Systems Technology in a research note on Tuesday, October 22nd. They issued a “market perform” rating on the stock. Zacks Investment Research lowered Tactile Systems Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. TheStreet upgraded Tactile Systems Technology from a “d+” rating to a “c+” rating in a research note on Monday, July 29th. Finally, BidaskClub upgraded Tactile Systems Technology from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Tactile Systems Technology currently has an average rating of “Buy” and a consensus price target of $70.14.

NASDAQ TCMD traded up $1.37 during trading on Monday, hitting $57.14. 271,400 shares of the company traded hands, compared to its average volume of 229,398. Tactile Systems Technology has a 12 month low of $37.40 and a 12 month high of $76.63. The business has a fifty day simple moving average of $46.27 and a 200 day simple moving average of $50.72. The company has a current ratio of 4.26, a quick ratio of 3.56 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.02 billion, a P/E ratio of 168.06, a PEG ratio of 7.00 and a beta of 2.01.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, November 4th. The company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Tactile Systems Technology had a return on equity of 9.41% and a net margin of 5.06%. The company had revenue of $49.60 million for the quarter, compared to analyst estimates of $45.47 million. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue was up 36.6% compared to the same quarter last year. Equities research analysts predict that Tactile Systems Technology will post 0.61 EPS for the current fiscal year.

In related news, COO Robert J. Folkes sold 2,106 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $50.85, for a total value of $107,090.10. Following the completion of the sale, the chief operating officer now owns 84,172 shares in the company, valued at approximately $4,280,146.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kevin H. Roche sold 5,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $50.87, for a total transaction of $254,350.00. Following the completion of the sale, the director now owns 35,311 shares of the company’s stock, valued at approximately $1,796,270.57. The disclosure for this sale can be found here. Insiders have sold a total of 51,904 shares of company stock valued at $2,478,355 in the last quarter. Corporate insiders own 6.50% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. bought a new stake in shares of Tactile Systems Technology in the 1st quarter valued at $25,000. TCI Wealth Advisors Inc. boosted its stake in Tactile Systems Technology by 2,500.0% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 520 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares during the period. First Mercantile Trust Co. boosted its stake in Tactile Systems Technology by 27.8% in the 2nd quarter. First Mercantile Trust Co. now owns 2,768 shares of the company’s stock worth $158,000 after purchasing an additional 602 shares during the period. Alberta Investment Management Corp acquired a new position in Tactile Systems Technology in the 2nd quarter worth $222,000. Finally, Bailard Inc. acquired a new position in Tactile Systems Technology in the 2nd quarter worth $239,000. Institutional investors and hedge funds own 99.67% 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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