In a report released today, Suraj Kalia from Oppenheimer assigned a Buy rating to Tactile Systems Technology (TCMD), with a price target of $61.00. The company’s shares closed last Tuesday at $51.32.
According to TipRanks.com, Kalia is a 4-star analyst with an average return of 10.3% and a 56.0% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Inspire Medical Systems, Cardiovascular Systems, and Irhythm Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Tactile Systems Technology with a $63.25 average price target.
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Based on Tactile Systems Technology’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $59.24 million and net profit of $12.11 million. In comparison, last year the company earned revenue of $57.06 million and had a net profit of $4.28 million.
Based on the recent corporate insider activity of 31 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.