BTIG analyst Ryan Zimmerman maintained a Buy rating on Tactile Systems Technology (TCMD – Research Report) yesterday and set a price target of $69.00. The company’s shares closed last Thursday at $46.69.
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 29.2% and a 60.5% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Staar Surgical Company, and Organogenesis Holdings.
Currently, the analyst consensus on Tactile Systems Technology is a Strong Buy with an average price target of $67.00, which is a 41.1% upside from current levels. In a report issued on July 6, Piper Sandler also maintained a Buy rating on the stock with a $70.00 price target.
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Based on Tactile Systems Technology’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $42.77 million and GAAP net loss of $2.27 million. In comparison, last year the company earned revenue of $43.68 million and had a GAAP net loss of $1.31 million.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TCMD in relation to earlier this year.
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Tactile Systems Technology, Inc. is a medical technology company. It develops and provides innovative medical devices for the treatment of chronic diseases at home. The company focus 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. It possesses a platform to deliver at-home healthcare solutions throughout the United States. Tactile Systems Technology was founded on January 30, 1995 and is headquartered in Minneapolis, MN.
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