Analysts expect Tactile Systems Technology Inc (NASDAQ:TCMD) to report sales of $31.15 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Tactile Systems Technology’s earnings, with estimates ranging from $30.86 million to $31.30 million. Tactile Systems Technology reported sales of $26.26 million in the same quarter last year, which indicates a positive year over year growth rate of 18.6%. The firm is scheduled to announce its next quarterly earnings report on Monday, August 6th.
According to Zacks, analysts expect that Tactile Systems Technology will report full year sales of $133.60 million for the current fiscal year, with estimates ranging from $133.51 million to $133.70 million. For the next financial year, analysts anticipate that the business will post sales of $159.93 million per share, with estimates ranging from $159.70 million to $160.30 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Tactile Systems Technology.
Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, May 7th. The company reported $0.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.13. Tactile Systems Technology had a net margin of 6.29% and a return on equity of 7.86%. The firm had revenue of $26.85 million during the quarter, compared to analysts’ expectations of $23.72 million. During the same period last year, the company posted ($0.09) EPS. The company’s quarterly revenue was up 35.3% compared to the same quarter last year.
NASDAQ:TCMD opened at $55.16 on Friday. Tactile Systems Technology has a 12 month low of $22.72 and a 12 month high of $56.99. The stock has a market capitalization of $1.02 billion, a PE ratio of 262.67, a P/E/G ratio of 7.85 and a beta of 0.85.
In related news, SVP Bryan Rishe sold 1,500 shares of the stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $31.02, for a total value of $46,530.00. Following the completion of the transaction, the senior vice president now directly owns 91,085 shares in the company, valued at approximately $2,825,456.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kevin H. Roche sold 15,000 shares of the stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $44.41, for a total transaction of $666,150.00. Following the completion of the transaction, the director now owns 66,784 shares of the company’s stock, valued at $2,965,877.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,062 shares of company stock valued at $1,450,647. 8.70% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the stock. Legal & General Group Plc increased its stake in shares of Tactile Systems Technology by 7.0% in the 1st quarter. Legal & General Group Plc now owns 27,074 shares of the company’s stock worth $853,000 after acquiring an additional 1,769 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Tactile Systems Technology by 34.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 10,001 shares of the company’s stock worth $290,000 after acquiring an additional 2,536 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Tactile Systems Technology by 11.4% in the 1st quarter. Rhumbline Advisers now owns 31,907 shares of the company’s stock worth $1,015,000 after acquiring an additional 3,273 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Tactile Systems Technology by 2.4% in the 1st quarter. Allianz Asset Management GmbH now owns 174,121 shares of the company’s stock worth $5,537,000 after acquiring an additional 4,027 shares in the last quarter. Finally, AWM Investment Company Inc. increased its stake in shares of Tactile Systems Technology by 0.9% in the 4th quarter. AWM Investment Company Inc. now owns 486,035 shares of the company’s stock worth $14,085,000 after acquiring an additional 4,262 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.
About Tactile Systems Technology
Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of chronic diseases in the United States. The company offers proprietary Flexitouch system, an at-home solution for lymphedema patients; and ACTitouch system, a home-based solution for chronic venous insufficiency patients.
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