Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives $38.60 Consensus PT from Analysts

Tactile Systems Technology, Inc. (NASDAQ:TCMD) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $38.60.

A number of research analysts recently issued reports on TCMD shares. B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $32.00 to $36.00 in a report on Thursday, May 7th. Weiss Ratings lowered shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Finally, BTIG Research reissued a “buy” rating and set a $40.00 price target on shares of Tactile Systems Technology in a research report on Thursday, May 21st.

Tactile Systems Technology Stock Performance

Shares of TCMD opened at $31.35 on Friday. The stock has a market cap of $707.26 million, a P/E ratio of 35.63 and a beta of 0.79. Tactile Systems Technology has a 1 year low of $9.41 and a 1 year high of $37.77. The stock’s 50-day moving average price is $25.72 and its two-hundred day moving average price is $27.20.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $75.27 million during the quarter, compared to the consensus estimate of $70.57 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. As a group, equities analysts forecast that Tactile Systems Technology will post 1.11 EPS for the current year.

Insider Activity at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $24.49, for a total transaction of $113,413.19. Following the sale, the chief financial officer owned 130,188 shares of the company’s stock, valued at approximately $3,188,304.12. This trade represents a 3.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tactile Systems Technology

Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. raised its position in 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 buying an additional 1,993 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Tactile Systems Technology in the 4th quarter valued at approximately $32,000. Quarry LP boosted its position in Tactile Systems Technology by 302.6% during the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after acquiring an additional 1,743 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Tactile Systems Technology during the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC bought a new position in shares of Tactile Systems Technology during the 4th quarter worth approximately $37,000. 83.43% of the stock is currently owned by 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.