Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives $38.40 Average Target Price from Analysts

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $38.40.

Several research firms recently commented on TCMD. BTIG Research reduced their price objective on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Weiss Ratings cut shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 31st. Finally, Wall Street Zen lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th.

Insider Transactions at Tactile Systems Technology

In related news, CEO Sheri Dodd sold 10,978 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the completion of the sale, the chief executive officer owned 232,907 shares of the company’s stock, valued at approximately $6,856,782.08. This represents a 4.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Tactile Systems Technology

Large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Tactile Systems Technology in the second quarter valued at approximately $56,733,000. Vanguard Group Inc. increased its stake in shares of Tactile Systems Technology by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company’s stock worth $47,884,000 after acquiring an additional 76,198 shares during the last quarter. Paradigm Capital Management Inc. NY raised its holdings 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 worth $16,413,000 after acquiring an additional 89,600 shares during the period. Dimensional Fund Advisors LP boosted its position 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 acquiring 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% in the fourth 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 period. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

Tactile Systems Technology Trading Up 0.4%

TCMD stock opened at $22.40 on Thursday. Tactile Systems Technology has a 12-month low of $13.37 and a 12-month high of $37.77. The business’s 50-day moving average is $26.15 and its 200 day moving average is $26.18. The stock has a market cap of $507.36 million, a price-to-earnings ratio of 20.74 and a beta of 0.80.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, August 10th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.20. The business had revenue of $85.70 million during the quarter, compared to analysts’ expectations of $85.52 million. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%. As a group, equities analysts forecast that Tactile Systems Technology will post 1.1 EPS for the current fiscal year.

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.