Tactile Systems Technology (NASDAQ:TCMD) Releases Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Tactile Systems Technology (NASDAQ:TCMD) posted its quarterly earnings data on Monday. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.20, Zacks reports. The business had revenue of $85.76 million during the quarter, compared to the consensus estimate of $79.31 million. Tactile Systems Technology had a return on equity of 7.72% and a net margin of 5.06%. Tactile Systems Technology updated its FY 2025 guidance to EPS.

Tactile Systems Technology Stock Up 41.5%

Tactile Systems Technology stock opened at $22.32 on Wednesday. The company’s 50-day moving average price is $14.36 and its two-hundred day moving average price is $12.15. Tactile Systems Technology has a twelve month low of $8.61 and a twelve month high of $23.84. The company has a quick ratio of 3.36, a current ratio of 3.79 and a debt-to-equity ratio of 0.11. The stock has a market cap of $497.51 million, a P/E ratio of 36.00 and a beta of 1.04.

Analysts Set New Price Targets

TCMD has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Tactile Systems Technology in a report on Wednesday, October 8th. Piper Sandler restated a “neutral” rating and set a $20.00 price objective (up from $14.00) on shares of Tactile Systems Technology in a research note on Tuesday. B. Riley reaffirmed a “neutral” rating and issued a $13.00 target price (up previously from $12.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 5th. Lake Street Capital increased their price target on Tactile Systems Technology from $23.50 to $32.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

Insiders Place Their Bets

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 7,762 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $12.36, for a total value of $95,938.32. Following the transaction, the chief executive officer directly owned 173,479 shares of the company’s stock, valued at approximately $2,144,200.44. The trade was a 4.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Tactile Systems Technology

Institutional investors have recently modified their holdings of the company. Oxford Asset Management LLP purchased a new stake in Tactile Systems Technology in the 2nd quarter valued at $124,000. Cresset Asset Management LLC raised its holdings in shares of Tactile Systems Technology by 14.3% in the second quarter. Cresset Asset Management LLC now owns 22,894 shares of the company’s stock valued at $232,000 after purchasing an additional 2,858 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Tactile Systems Technology by 3.5% during the second quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock worth $247,000 after purchasing an additional 835 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in Tactile Systems Technology in the 2nd quarter valued at about $342,000. Finally, Rhumbline Advisers grew its holdings in shares of Tactile Systems Technology by 4.0% in the second quarter. Rhumbline Advisers now owns 37,780 shares of the company’s stock valued at $383,000 after acquiring an additional 1,441 shares in the last quarter. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.