Brokerages Set Tactile Systems Technology, Inc. (NASDAQ:TCMD) Price Target at $38.40

Tactile Systems Technology, Inc. (NASDAQ:TCMD) has earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $38.40.

A number of analysts have weighed in on TCMD shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tactile Systems Technology in a research report on Monday, August 3rd. BTIG Research lowered their price objective on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and raised their price objective for the company from $32.00 to $36.00 in a research note on Thursday, May 7th. Finally, Wall Street Zen lowered Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday.

Insider Activity at Tactile Systems Technology

In other news, CEO Sheri Louise Dodd sold 10,978 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.44, for a total value of $323,192.32. Following the transaction, the chief executive officer owned 232,907 shares of the company’s stock, valued at $6,856,782.08. This trade represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.

Hedge Funds Weigh In On Tactile Systems Technology

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Tactile Systems Technology during the second quarter worth $56,733,000. Vanguard Group Inc. boosted its stake in Tactile Systems Technology by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company’s stock worth $47,884,000 after purchasing an additional 76,198 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its stake in Tactile Systems Technology by 5.9% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock worth $16,413,000 after purchasing an additional 89,600 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Tactile Systems Technology by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,191,207 shares of the company’s stock worth $16,486,000 after purchasing an additional 24,001 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Tactile Systems Technology by 19.4% during the fourth quarter. Federated Hermes Inc. now owns 645,408 shares of the company’s stock worth $18,717,000 after purchasing an additional 104,648 shares during the last quarter. 83.43% of the stock is currently owned by institutional investors.

Tactile Systems Technology Stock Performance

Shares of TCMD opened at $23.85 on Friday. The company’s 50 day moving average price is $28.01 and its 200 day moving average price is $26.84. Tactile Systems Technology has a 52 week low of $12.50 and a 52 week high of $37.77. The company has a market capitalization of $540.20 million, a PE ratio of 22.08 and a beta of 0.81.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.20. The business had revenue of $85.70 million for the quarter, compared to the consensus estimate of $85.52 million. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. On average, equities analysts forecast that Tactile Systems Technology will post 1.07 earnings per share for the current fiscal year.

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.