Tactile Systems Technology (NASDAQ:TCMD) Stock Moved Up to "Strong-Buy" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Tactile Systems Technology to “strong-buy” from “buy.” Overall, analysts maintain a “Moderate Buy” consensus with a $37.60 average price target.
• Tactile Medical’s latest quarterly results exceeded expectations, with EPS of $0.34 versus the $0.14 consensus estimate and revenue of $85.70 million.
• TCMD shares opened at $23.04, while institutional investors and hedge funds own 83.43% of the company. CEO Sheri Dodd also sold shares to cover tax obligations related to vested equity awards.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently commented on the stock. BTIG Research lowered their price target on shares of Tactile Systems Technology from $39.00 to $35.00 and set a "buy" rating for the company in a report on Monday, October 12th. Weiss Ratings raised shares of Tactile Systems Technology from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, October 13th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $37.60.

Tactile Systems Technology Price Performance

Shares of NASDAQ:TCMD opened at $23.04 on Friday. The firm has a market capitalization of $521.86 million, a price-to-earnings ratio of 22.51 and a beta of 0.82. The business's 50 day simple moving average is $22.74 and its 200-day simple moving average is $25.94. Tactile Systems Technology has a 12 month low of $14.84 and a 12 month high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.34 earnings per share (EPS) 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 analysts' expectations of $85.52 million. On average, equities analysts anticipate that Tactile Systems Technology will post 1.10 earnings per share for the current year.

Insider Transactions at Tactile Systems Technology

In other Tactile Systems Technology news, CEO Sheri Dodd sold 10,978 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $29.44, for a total transaction of $323,192.32. Following the completion of the sale, the chief executive officer directly owned 232,907 shares in the company, valued at $6,856,782.08. This represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Tactile Systems Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. USA Financial Formulas bought a new position in shares of Tactile Systems Technology in the 1st quarter worth about $71,000. Summit Securities Group LLC acquired a new position in shares of Tactile Systems Technology in the 1st quarter valued at about $75,000. Versant Capital Management Inc grew its position in shares of Tactile Systems Technology by 36.4% during the 2nd quarter. Versant Capital Management Inc now owns 3,285 shares of the company's stock valued at $98,000 after buying an additional 876 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Tactile Systems Technology during the 2nd quarter valued at about $101,000. Finally, IFP Advisors Inc grew its position in shares of Tactile Systems Technology by 24.3% during the 2nd quarter. IFP Advisors Inc now owns 3,606 shares of the company's stock valued at $107,000 after buying an additional 704 shares during the last quarter. 83.43% of the stock is owned by institutional investors and hedge funds.

About Tactile Systems Technology

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.