Tactile Systems Technology (NASDAQ:TCMD) Price Target Cut to $39.00 by Analysts at BTIG Research

Tactile Systems Technology (NASDAQ:TCMD) had its price objective decreased by analysts at BTIG Research from $40.00 to $39.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 33.84% from the company’s previous close.

A number of other equities analysts have also weighed in on TCMD. B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their target price for the stock from $32.00 to $36.00 in a research note on Thursday, May 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tactile Systems Technology in a report on Monday, August 3rd. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.40.

Tactile Systems Technology Price Performance

Tactile Systems Technology stock opened at $29.14 on Tuesday. Tactile Systems Technology has a fifty-two week low of $12.01 and a fifty-two week high of $37.77. The firm has a market capitalization of $657.40 million, a price-to-earnings ratio of 33.11 and a beta of 0.81. The company’s 50 day simple moving average is $28.13 and its 200 day simple moving average is $27.06.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Monday, August 10th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.20. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. The business had revenue of $85.70 million during the quarter, compared to analysts’ expectations of $85.52 million. As a group, analysts predict that Tactile Systems Technology will post 1.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Tactile Systems Technology

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Tactile Systems Technology in the second quarter valued at $56,733,000. Vanguard Group Inc. raised its position in shares of Tactile Systems Technology by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company’s stock valued at $47,884,000 after buying an additional 76,198 shares in the last quarter. Paradigm Capital Management Inc. NY lifted its position in shares of Tactile Systems Technology by 5.9% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock valued at $16,413,000 after acquiring an additional 89,600 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Tactile Systems Technology by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,191,207 shares of the company’s stock valued at $16,486,000 after purchasing an additional 24,001 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Tactile Systems Technology by 19.4% in the 4th quarter. Federated Hermes Inc. now owns 645,408 shares of the company’s stock valued at $18,717,000 after purchasing an additional 104,648 shares during the last quarter. Institutional investors own 83.43% of the company’s stock.

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.