Northland Securities analyst Suraj Kalia maintained a Hold rating on Tactile Systems Technology (TCMD) today and set a price target of $50. The company’s shares opened today at $69, close to its 52-week high of $76.63.
Kalia commented:
“We are introducing our FY20 #’s and our PT changes accordingly to $50.”
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 14.3% and a 60.7% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Strata Skin Sciences Inc, Obalon Therapeutics Inc, and Apollo Endosurgery Inc.
Currently, the analyst consensus on Tactile Systems Technology is a Moderate Buy with an average price target of $70.
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Based on Tactile Systems Technology’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $1.75 million. In comparison, last year the company had a net profit of $2.23 million.
Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TCMD in relation to earlier this year.
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Tactile Systems Technology, Inc. is a medical technology company, which 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 possess a platform to deliver at-home healthcare solutions throughout the United States. The company was founded on January 30, 1995 and is headquartered in Minneapolis, MN.
