Tactile Systems Technology (TCMD) Rating Lowered to Hold at Zacks Investment Research

Tactile Systems Technology (TCMD) Rating Lowered to Hold at Zacks Investment Research

According to Zacks, “Tactile Systems Technology, Inc. is a medical technology company which develops medical devices for the treatment of chronic diseases at home. The company’s product pipeline consists of Flexitouch System(R), the Entré System and the ACTitouch System (R). Tactile Systems Technology, Inc. is headquartered in Minneapolis, Minnesota. “

Tactile Systems Technology (NASDAQ:TCMD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

Several other equities analysts have also recently weighed in on TCMD. Canaccord Genuity lifted their price objective on Tactile Systems Technology from $55.00 to $80.00 and gave the company a “buy” rating in a report on Friday, March 1st. BidaskClub cut Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. BTIG Research reaffirmed a “hold” rating on shares of Tactile Systems Technology in a report on Tuesday, March 5th. ValuEngine cut Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Friday, December 7th. Finally, Northland Securities reaffirmed a “hold” rating and issued a $38.00 price objective on shares of Tactile Systems Technology in a report on Friday, January 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $70.00.

Shares of NASDAQ TCMD opened at $62.50 on Tuesday. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 223.21, a P/E/G ratio of 17.19 and a beta of 2.35. Tactile Systems Technology has a fifty-two week low of $30.21 and a fifty-two week high of $76.63.

In other news, CEO Gerald R. Mattys sold 50,000 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $70.27, for a total transaction of $3,513,500.00. Following the completion of the transaction, the chief executive officer now owns 328,362 shares of the company’s stock, valued at approximately $23,073,997.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gerald R. Mattys sold 27,302 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $71.53, for a total value of $1,952,912.06. Following the transaction, the chief executive officer now directly owns 288,432 shares of the company’s stock, valued at approximately $20,631,540.96. The disclosure for this sale can be found here. Insiders sold a total of 129,227 shares of company stock valued at $8,482,825 over the last ninety days. Insiders own 8.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Rehmann Capital Advisory Group raised its holdings in shares of Tactile Systems Technology by 611.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,075 shares of the company’s stock worth $76,000 after buying an additional 924 shares in the last quarter. NumerixS Investment Technologies Inc raised its holdings in shares of Tactile Systems Technology by 240.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 1,700 shares of the company’s stock worth $75,000 after buying an additional 1,200 shares in the last quarter. Neuburgh Advisers LLC raised its holdings 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 worth $80,000 after buying an additional 320 shares in the last quarter. Riverhead Capital Management LLC acquired a new position in shares of Tactile Systems Technology during the 3rd quarter worth $156,000. Finally, First Mercantile Trust Co. raised its holdings in shares of Tactile Systems Technology by 57.1% during the 3rd quarter. First Mercantile Trust Co. now owns 2,696 shares of the company’s stock worth $192,000 after buying an additional 980 shares in the last quarter. 96.24% of the stock is owned by institutional investors.

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 proprietary 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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