Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives $37.40 Average Target Price from Analysts

Tactile Systems Technology, Inc. (NASDAQ:TCMD) has received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $37.40.

Several equities research analysts have recently commented on TCMD shares. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Monday, December 29th. B. Riley Financial upped their price objective on shares of Tactile Systems Technology from $16.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Piper Sandler raised their target price on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Finally, Zacks Research lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th.

Tactile Systems Technology Stock Performance

NASDAQ TCMD opened at $28.65 on Friday. The firm has a market cap of $642.91 million, a PE ratio of 34.52 and a beta of 0.96. Tactile Systems Technology has a one year low of $8.61 and a one year high of $37.77. The firm’s fifty day moving average is $29.09 and its two-hundred day moving average is $21.84.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Tuesday, February 17th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.02. The business had revenue of $103.59 million during the quarter, compared to the consensus estimate of $93.80 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.26%. Research analysts predict that Tactile Systems Technology will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Kristie Burns sold 5,139 shares of Tactile Systems Technology stock in a transaction that occurred on 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 in the company, valued at $2,088,768.85. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Elaine M. Birkemeyer sold 5,518 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $28.30, for a total value of $156,159.40. Following the transaction, the chief financial officer directly owned 142,520 shares in the company, valued at $4,033,316. This represents a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 30,336 shares of company stock worth $861,335. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Tactile Systems Technology

Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its holdings in shares of Tactile Systems Technology by 1,594.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock valued at $29,000 after purchasing an additional 1,993 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Tactile Systems Technology in the fourth quarter valued at about $32,000. Quarry LP lifted its position in shares of Tactile Systems Technology by 302.6% during the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after acquiring an additional 1,743 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Tactile Systems Technology during the 4th quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Tactile Systems Technology during the 4th quarter worth approximately $37,000. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

About Tactile Systems Technology

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.