Tactile Systems Technology (TCMD) Receives a Hold from Northland Securities

By Austin Angelo

Northland Securities analyst Suraj Kalia maintained a Hold rating on Tactile Systems Technology (TCMDResearch Report) today and set a price target of $38. The company’s shares opened today at $61.77.

Kalia commented:

“We await further details on the quarterly call, and will adjust our ratings / PT accordingly. Key Points Here are the key things we look forward to gleaning from the quarterly call: What was the contribution from the large contracted payor signed up earlier? Were there any “pull-forward” sales? Were there any bulk purchases from any segment, including the VA? How did OpEx stack up in the quarter? How does Q4 growth reconcile with implied guidance in company commentary from the Q3-18 call? We have accordingly tweaked our FY19 and FY20 numbers. For the time being, we maintain our rating & PT. Once we have a better understanding of the stability of Q4 growth drivers, we will accordingly make changes.”

According to TipRanks.com, Kalia is a 5-star analyst with an average return of 9.4% and a 55.8% 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 $63.75 average price target, which is a 3.2% upside from current levels. In a report issued on January 7, BTIG also maintained a Hold rating on the stock.

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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 96 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.