Tactile Systems Technology (NASDAQ:TCMD) Share Price Passes Below 50-Day Moving Average – Should You Sell?

Tactile Systems Technology, Inc. (NASDAQ:TCMD)’s stock price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $28.91 and traded as low as $27.00. Tactile Systems Technology shares last traded at $27.21, with a volume of 264,357 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TCMD. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Piper Sandler set a $35.00 price objective on Tactile Systems Technology in a report on Monday, January 5th. Raymond James Financial set a $35.00 price objective on shares of Tactile Systems Technology in a report on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Monday, December 29th. Finally, Zacks Research downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Tactile Systems Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.75.

Tactile Systems Technology Stock Performance

The stock has a market cap of $616.47 million, a PE ratio of 35.77 and a beta of 0.96. The firm has a fifty day moving average price of $28.91 and a 200 day moving average price of $20.11.

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

Insider Transactions at Tactile Systems Technology

In other Tactile Systems Technology news, VP Kristie Burns sold 5,139 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $28.85, for a total value of $148,260.15. Following the completion of the transaction, the vice president 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.50% of the company’s stock.

Institutional Trading of Tactile Systems Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised its stake in shares of Tactile Systems Technology by 248.3% during the 2nd quarter. Acadian Asset Management LLC now owns 683,662 shares of the company’s stock valued at $6,930,000 after buying an additional 487,392 shares during the last quarter. Federated Hermes Inc. grew its stake in Tactile Systems Technology by 42.7% in the 2nd quarter. Federated Hermes Inc. now owns 551,561 shares of the company’s stock valued at $5,593,000 after acquiring an additional 165,163 shares during the period. Norges Bank purchased a new stake in shares of Tactile Systems Technology during the second quarter worth about $1,464,000. LSV Asset Management increased its stake in Tactile Systems Technology by 304.8% during the 3rd quarter. LSV Asset Management now owns 146,945 shares of the company’s stock worth $2,034,000 after buying an additional 110,645 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in Tactile Systems Technology by 297.3% in the 3rd quarter. Bridgeway Capital Management LLC now owns 133,878 shares of the company’s stock valued at $1,853,000 after purchasing an additional 100,178 shares during the last quarter. Institutional investors and hedge funds 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.