Tactile Systems Technology (TCMD) received a Hold rating and a $38 price target from Northland Securities analyst Suraj Kalia today. The company’s shares opened today at $45.42.
Kalia wrote:
“We are upgrading our rating on Perform rating. Our PT remains @ $38, which represents ~4.5x forward P/S multiple. The stock is down from ~38% from its FY18 highs, which in part is a reason for us moving to the sidelines. Our core concerns on the name, though, remain.”
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 8.2% and a 53.7% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Strata Skin Sciences Inc, Obalon Therapeutics Inc, and Apollo Endosurgery Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tactile Systems Technology with a $66.67 average price target.
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Tactile Systems Technology’s market cap is currently $838.8M and has a P/E ratio of 135.32. The company has a Price to Book ratio of 10.06.
Based on the recent corporate insider activity of 97 insiders, corporate insider sentiment is neutral on the stock.
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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.
