Tactile Systems Technology (NASDAQ:TCMD) was downgraded by BidaskClub from a "sell" rating to a "strong sell" rating in a research report issued on Wednesday, BidAskClub reports.
Several other research firms also recently weighed in on TCMD. ValuEngine upgraded shares of Tactile Systems Technology from a "hold" rating to a "buy" rating in a research note on Thursday, July 2nd. Zacks Investment Research downgraded shares of Tactile Systems Technology from a "hold" rating to a "sell" rating in a research note on Thursday, August 6th. Oppenheimer assumed coverage on shares of Tactile Systems Technology in a research note on Monday, August 3rd. They set a "hold" rating for the company. TheStreet cut shares of Tactile Systems Technology from a "c" rating to a "d+" rating in a research note on Monday, August 3rd. Finally, Canaccord Genuity reaffirmed a "buy" rating and set a $62.00 price objective on shares of Tactile Systems Technology in a research note on Tuesday, August 4th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of "Hold" and a consensus target price of $67.20.
TCMD opened at $33.31 on Wednesday. The company has a market capitalization of $646.65 million, a price-to-earnings ratio of -74.02 and a beta of 1.74. The firm has a 50-day moving average price of $36.93 and a 200-day moving average price of $42.36. Tactile Systems Technology has a twelve month low of $29.47 and a twelve month high of $71.65.
Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, August 3rd. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.04. The firm had revenue of $35.12 million during the quarter, compared to the consensus estimate of $37.52 million. Tactile Systems Technology had a negative net margin of 4.55% and a positive return on equity of 1.39%. On average, research analysts expect that Tactile Systems Technology will post -0.08 earnings per share for the current year.
In related news, SVP Bryan Rishe sold 2,331 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $40.66, for a total transaction of $94,778.46. Following the completion of the transaction, the senior vice president now owns 38,906 shares of the company's stock, valued at $1,581,917.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.30% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in TCMD. Thrivent Financial for Lutherans grew its stake in Tactile Systems Technology by 113.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 806,565 shares of the company's stock worth $33,416,000 after buying an additional 428,087 shares in the last quarter. Champlain Investment Partners LLC purchased a new position in Tactile Systems Technology in the 1st quarter worth approximately $7,890,000. Marshall Wace LLP grew its stake in Tactile Systems Technology by 448.1% in the 2nd quarter. Marshall Wace LLP now owns 103,261 shares of the company's stock worth $4,278,000 after buying an additional 84,420 shares in the last quarter. Waddell & Reed Financial Inc. grew its stake in Tactile Systems Technology by 6.2% in the 1st quarter. Waddell & Reed Financial Inc. now owns 1,372,364 shares of the company's stock worth $55,114,000 after buying an additional 80,159 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC grew its stake in Tactile Systems Technology by 22.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 389,159 shares of the company's stock worth $15,629,000 after buying an additional 71,246 shares in the last quarter.
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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