Tactile Systems Technology (TCMD) Downgraded to “Sell” at BidaskClub

BidaskClub lowered shares of Tactile Systems Technology (NASDAQ:TCMD) from a hold rating to a sell rating in a research note released on Saturday morning.

Several other research firms have also commented on TCMD. BTIG Research lowered shares of Tactile Systems Technology from a buy rating to a neutral rating in a research report on Monday, September 18th. Northland Securities reaffirmed a hold rating and set a $31.50 price target on shares of Tactile Systems Technology in a research report on Monday, October 16th. Zacks Investment Research lowered shares of Tactile Systems Technology from a buy rating to a hold rating in a research report on Wednesday, October 11th. Guggenheim began coverage on shares of Tactile Systems Technology in a research report on Thursday, October 12th. They set a buy rating and a $47.00 price target for the company. Finally, Canaccord Genuity reaffirmed a buy rating and set a $37.00 price target on shares of Tactile Systems Technology in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $34.25.

Shares of Tactile Systems Technology (TCMD) opened at $28.16 on Friday. Tactile Systems Technology has a 52-week low of $14.37 and a 52-week high of $37.88. The company has a market cap of $498.48 and a PE ratio of 88.00.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The firm had revenue of $28.28 million during the quarter, compared to analyst estimates of $27.66 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. analysts predict that Tactile Systems Technology will post 0.34 earnings per share for the current year.

In related news, SVP Bryan Rishe sold 1,500 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $28.67, for a total value of $43,005.00. Following the completion of the sale, the senior vice president now directly owns 94,645 shares of the company’s stock, valued at approximately $2,713,472.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert J. Folkes sold 4,455 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $28.32, for a total transaction of $126,165.60. The disclosure for this sale can be found here. Insiders sold a total of 182,545 shares of company stock valued at $5,140,101 over the last three months. 49.90% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its holdings in Tactile Systems Technology by 125.4% in the 2nd quarter. Northern Trust Corp now owns 95,227 shares of the company’s stock worth $2,721,000 after acquiring an additional 52,985 shares in the last quarter. Menta Capital LLC increased its holdings in Tactile Systems Technology by 66.9% in the 2nd quarter. Menta Capital LLC now owns 28,186 shares of the company’s stock worth $806,000 after acquiring an additional 11,300 shares in the last quarter. State Street Corp increased its holdings in Tactile Systems Technology by 115.1% in the 2nd quarter. State Street Corp now owns 121,255 shares of the company’s stock worth $3,466,000 after acquiring an additional 64,883 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in Tactile Systems Technology by 237.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 24,897 shares of the company’s stock worth $712,000 after acquiring an additional 17,512 shares in the last quarter. Finally, Nicholas Investment Partners LP purchased a new stake in Tactile Systems Technology in the 2nd quarter worth approximately $1,723,000. 71.68% of the stock is owned by institutional investors.

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About Tactile Systems Technology

Tactile Systems Technology, Inc is a medical technology company that develops and provides medical devices for the treatment of chronic diseases at home. The Company is a manufacturer and distributor of the Flexitouch and Entre Systems, medical devices that help control symptoms of lymphedema, a chronic and progressive medical condition that is often an unintended consequence of cancer treatment, and the ACTitouch System, a medical device used to treat venous leg ulcers and chronic venous insufficiency.

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