Tactile Systems Technology (NASDAQ:TCMD) Stock Price Target Lowered at BTIG Research

by · The Markets Daily

Tactile Systems Technology (NASDAQ:TCMD – Free Report) had its price objective cut by BTIG Research from $39.00 to $35.00 in a research report report published on Monday, Marketbeat reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Weiss Ratings lowered Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, September 28th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Tactile Systems Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.60.

View Our Latest Analysis on Tactile Systems Technology

Tactile Systems Technology Trading Up 0.8%

Shares of Tactile Systems Technology stock opened at $22.62 on Monday. The business has a 50-day moving average price of $23.46 and a two-hundred day moving average price of $25.30. Tactile Systems Technology has a 1-year low of $14.00 and a 1-year high of $37.77. The company has a market cap of $512.34 million, a P/E ratio of 20.94 and a beta of 0.82.

Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.20. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%. The firm had revenue of $85.70 million during the quarter, compared to analyst estimates of $85.52 million. Equities research analysts forecast that Tactile Systems Technology will post 1.10 EPS for the current fiscal year.

Insider Buying and Selling at Tactile Systems Technology

In other news, CEO Sheri Dodd sold 10,978 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the transaction, the chief executive officer owned 232,907 shares in the company, valued at approximately $6,856,782.08. This represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Tactile Systems Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Light Asset Management LLC acquired a new position in Tactile Systems Technology during the 2nd quarter worth approximately $13,775,000. Engineers Gate Manager LP acquired a new stake in Tactile Systems Technology in the second quarter valued at approximately $400,000. IFP Advisors Inc grew its stake in Tactile Systems Technology by 24.3% in the second quarter. IFP Advisors Inc now owns 3,606 shares of the company’s stock valued at $107,000 after acquiring an additional 704 shares during the period. Amundi grew its stake in Tactile Systems Technology by 9.2% in the second quarter. Amundi now owns 19,761 shares of the company’s stock valued at $588,000 after acquiring an additional 1,659 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Tactile Systems Technology during the second quarter valued at approximately $3,607,000. 83.43% of the stock is owned by institutional investors.

Tactile Systems Technology Company Profile

(Get Free Report)

Tactile Systems Technology, Inc, doing business as Tactile Medical, is a medical technology company focused on developing, manufacturing and distributing devices for people with chronic swelling and respiratory conditions. Its products are intended for use in the home and are commonly prescribed by health care professionals as part of ongoing disease-management programs.

The company’s core products include the Flexitouch pneumatic compression system, designed to support the treatment of lymphedema and related conditions, and the Entre system, which provides pneumatic compression therapy for the upper and lower extremities.

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