The Tactile Systems Technology Inc (TCMD) Upgrade to “Buy” at The Zacks Investment Research

The Tactile Systems Technology Inc (TCMD) Upgrade to “Buy” at The Zacks Investment Research

Zacks Investment Research upgraded shares of Tactile Systems Technology Inc (NASDAQ:TCMD) from a hold rating to a buy rating in a report released on Tuesday morning. The brokerage currently has $22.00 price target on the stock.

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. “

A number of other analysts have also weighed in on the company. William Blair started coverage on Tactile Systems Technology in a research note on Monday, August 22nd. They issued an outperform rating for the company. BTIG Research started coverage on Tactile Systems Technology in a research note on Monday, August 22nd. They issued a buy rating and a $18.00 target price for the company. Canaccord Genuity started coverage on Tactile Systems Technology in a research note on Thursday, August 25th. They issued a buy rating and a $21.00 target price for the company. Finally, Piper Jaffray Cos. started coverage on Tactile Systems Technology in a research note on Monday, August 22nd. They issued an overweight rating and a $17.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, Tactile Systems Technology presently has a consensus rating of Buy and an average price target of $19.50.

Shares of Tactile Systems Technology (NASDAQ:TCMD) opened at 17.52 on Tuesday. Tactile Systems Technology has a 1-year low of $10.00 and a 1-year high of $22.29. The firm’s 50-day moving average is $18.64 and its 200-day moving average is $16.40. The stock has a market capitalization of $293.85 million and a price-to-earnings ratio of 282.58.

In other news, Director Richard Nigon acquired 18,750 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was purchased at an average cost of $16.87 per share, for a total transaction of $316,312.50. Following the completion of the transaction, the director now directly owns 8,322 shares in the company, valued at $140,392.14. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Peter H. Soderberg acquired 100,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was purchased at an average price of $10.00 per share, with a total value of $1,000,000.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $50,000. The disclosure for this purchase can be found here.

About Tactile Systems Technology

Tactile Systems Technology, Inc is a medical technology company. The Company develops and provides medical devices for the treatment of chronic diseases at home. The Company focuses on advancing the standard of care in treating chronic diseases in the home setting to improve patient outcomes and quality of life and help control rising healthcare expenditures.

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