Other equities research analysts have also issued reports about the stock. Northland Securities set a $11.00 target price on shares of Lazydays and gave the stock a buy rating in a report on Friday, March 22nd. Dougherty & Co initiated coverage on shares of Tactile Systems Technology in a report on Thursday, June 13th. They set a buy rating and a $80.00 target price on the stock. Guggenheim reissued a buy rating and set a $222.00 target price (up from $186.00) on shares of GW Pharmaceuticals PLC- in a report on Tuesday, May 7th. ValuEngine lowered shares of Xylem from a buy rating to a hold rating in a report on Tuesday, May 14th. Finally, Piper Jaffray Companies boosted their target price on shares of Tactile Systems Technology to $84.00 and gave the stock an overweight rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $76.50.
Shares of Tactile Systems Technology stock opened at $52.62 on Friday. The company has a market cap of $990.62 million, a price-to-earnings ratio of 154.76, a PEG ratio of 5.15 and a beta of 1.98. The company has a quick ratio of 4.30, a current ratio of 4.96 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $54.47. Tactile Systems Technology has a 1 year low of $37.40 and a 1 year high of $76.63.
Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.20. The company had revenue of $37.60 million for the quarter, compared to analyst estimates of $33.30 million. Tactile Systems Technology had a net margin of 5.27% and a return on equity of 8.17%. Tactile Systems Technology’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, equities research analysts predict that Tactile Systems Technology will post 0.52 EPS for the current year.
In other news, COO Robert J. Folkes sold 2,106 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $55.31, for a total value of $116,482.86. Following the sale, the chief operating officer now directly owns 90,490 shares of the company’s stock, valued at approximately $5,005,001.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Robert J. Folkes sold 10,607 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $50.00, for a total transaction of $530,350.00. Following the completion of the sale, the chief operating officer now directly owns 96,808 shares in the company, valued at $4,840,400. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,774 shares of company stock worth $3,729,251. Insiders own 6.50% of the company’s stock.
Several large investors have recently bought and sold shares of TCMD. Marshall Wace LLP boosted its stake in shares of Tactile Systems Technology by 6,820.2% in the 1st quarter. Marshall Wace LLP now owns 330,855 shares of the company’s stock valued at $17,443,000 after purchasing an additional 326,074 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Tactile Systems Technology by 16.4% during the 1st quarter. Janus Henderson Group PLC now owns 839,304 shares of the company’s stock valued at $44,248,000 after acquiring an additional 118,522 shares during the period. Great Lakes Advisors LLC acquired a new position in shares of Tactile Systems Technology during the 1st quarter valued at $2,615,000. BlackRock Inc. lifted its position in shares of Tactile Systems Technology by 1.7% during the 4th quarter. BlackRock Inc. now owns 2,645,719 shares of the company’s stock valued at $120,512,000 after acquiring an additional 43,915 shares during the period. Finally, Cortina Asset Management LLC lifted its position in shares of Tactile Systems Technology by 16.5% during the 2nd quarter. Cortina Asset Management LLC now owns 305,650 shares of the company’s stock valued at $17,398,000 after acquiring an additional 43,399 shares during the period. 99.88% of the stock is currently owned by institutional investors.
Tactile Systems Technology Company Profile
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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