Tactile Systems Technology (NASDAQ:TCMD) Shares Cross Below 50 Day Moving Average – What’s Next?

Tactile Systems Technology, Inc. (NASDAQ:TCMD)’s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $29.10 and traded as low as $29.06. Tactile Systems Technology shares last traded at $29.41, with a volume of 225,873 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TCMD shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a research report on Monday, December 29th. Raymond James Financial set a $35.00 price target on shares of Tactile Systems Technology in a report on Monday, January 5th. B. Riley Financial raised 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 note on Wednesday, February 18th. Piper Sandler upped their target price on Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, BTIG Research raised their price target on Tactile Systems Technology from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.40.

Tactile Systems Technology Trading Down 2.5%

The company has a market capitalization of $659.96 million, a PE ratio of 35.43 and a beta of 0.97. The firm’s 50-day simple moving average is $29.10 and its 200-day simple moving average is $22.54.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. The firm 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%. As a group, analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Insiders Place Their Bets

In other Tactile Systems Technology news, VP Kristie Burns sold 6,246 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total value of $180,759.24. Following the completion of the sale, the vice president directly owned 82,581 shares in the company, valued at approximately $2,389,894.14. This represents a 7.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sheri Louise Dodd sold 10,993 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total value of $318,137.42. Following the transaction, the chief executive officer owned 243,885 shares in the company, valued at approximately $7,058,031.90. This represents a 4.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 55,276 shares of company stock worth $1,583,099. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tactile Systems Technology

Several large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Tactile Systems Technology in the 4th quarter worth approximately $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Tactile Systems Technology during the fourth quarter worth $36,000. Global Retirement Partners LLC purchased a new stake in Tactile Systems Technology during the fourth quarter worth $37,000. Russell Investments Group Ltd. boosted its position in Tactile Systems Technology by 1,594.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock valued at $29,000 after acquiring an additional 1,993 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Tactile Systems Technology by 302.6% in 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. Institutional investors own 83.43% of the company’s stock.

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.