Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $28.75.

A number of research firms have issued reports on TCMD. Weiss Ratings restated a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Monday, December 29th. Wall Street Zen raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Raymond James Financial set a $35.00 target price on shares of Tactile Systems Technology in a research report on Monday. Piper Sandler set a $35.00 price target on Tactile Systems Technology in a report on Monday. Finally, Lake Street Capital raised their price objective on Tactile Systems Technology from $23.50 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th.

Tactile Systems Technology Price Performance

Shares of TCMD opened at $30.43 on Friday. The firm has a 50 day simple moving average of $26.31 and a 200-day simple moving average of $17.35. Tactile Systems Technology has a 1-year low of $8.61 and a 1-year high of $31.13. The stock has a market cap of $679.81 million, a price-to-earnings ratio of 39.52 and a beta of 0.91.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, November 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.20. The firm had revenue of $85.76 million for the quarter, compared to analyst estimates of $79.31 million. Tactile Systems Technology had a return on equity of 8.84% and a net margin of 5.83%. On average, equities analysts expect that Tactile Systems Technology will post 0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tactile Systems Technology news, VP Kristie Burns sold 5,139 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $28.85, for a total value of $148,260.15. Following the sale, the vice president directly owned 72,401 shares of the company’s stock, valued at approximately $2,088,768.85. This trade represents a 6.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Invesco Ltd. grew its holdings in Tactile Systems Technology by 19.8% in the first quarter. Invesco Ltd. now owns 35,637 shares of the company’s stock valued at $471,000 after purchasing an additional 5,879 shares during the period. American Century Companies Inc. grew its stake in shares of Tactile Systems Technology by 22.3% during the 1st quarter. American Century Companies Inc. now owns 47,900 shares of the company’s stock valued at $633,000 after buying an additional 8,739 shares during the period. Trexquant Investment LP acquired a new stake in shares of Tactile Systems Technology during the 1st quarter worth $232,000. EP Wealth Advisors LLC purchased a new position in shares of Tactile Systems Technology in the 1st quarter worth $138,000. Finally, Invenomic Capital Management LP purchased a new position in shares of Tactile Systems Technology in the 1st quarter worth $296,000. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, headquartered in Plymouth, Minnesota, is a medical device company specializing in the design, manufacture and marketing of home-use pneumatic compression therapy systems for the treatment of lymphedema and other chronic edema-related conditions. Using proprietary software and patented pump technologies, the company’s platforms are designed to improve patient outcomes through sequential pressure treatment that promotes fluid mobilization and enhanced lymphatic function.

At the core of Tactile Systems’ product portfolio is the Flexitouch® system, a programmable pneumatic pump and garment system approved for home use, and the Aria® device, which features an intuitive touchscreen interface and advanced garment design.