Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $38.40.

A number of brokerages have issued reports on TCMD. Weiss Ratings upgraded shares of Tactile Systems Technology from a “hold (c-)” rating to a “hold (c+)” rating in a report on Monday, August 17th. BTIG Research reduced their target price 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 increased their price target for the company from $32.00 to $36.00 in a research note on Thursday, May 7th. Finally, Wall Street Zen cut Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th.

Tactile Systems Technology Price Performance

TCMD stock opened at $23.82 on Friday. Tactile Systems Technology has a 1-year low of $12.78 and a 1-year high of $37.77. The business has a 50 day simple moving average of $27.86 and a two-hundred day simple moving average of $26.74. The company has a market capitalization of $539.52 million, a price-to-earnings ratio of 22.06 and a beta of 0.81.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Monday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.20. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. The firm had revenue of $85.70 million for the quarter, compared to analysts’ expectations of $85.52 million. Sell-side analysts anticipate that Tactile Systems Technology will post 1.07 EPS for the current fiscal year.

Insider Activity at Tactile Systems Technology

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 10,978 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 232,907 shares in the company, 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 Securities & Exchange Commission, which is available through this link. 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

Hedge funds and other institutional investors have recently made changes to their positions in the company. LSV Asset Management boosted its holdings in Tactile Systems Technology by 119.8% during the 4th quarter. LSV Asset Management now owns 323,004 shares of the company’s stock valued at $9,367,000 after acquiring an additional 176,059 shares during the period. Vanguard Group Inc. increased 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 during the period. RFG Advisory LLC purchased a new stake in Tactile Systems Technology in the fourth quarter worth $1,529,000. Segall Bryant & Hamill LLC bought a new stake in shares of Tactile Systems Technology during the first quarter worth $1,290,000. Finally, Janus Henderson Group PLC lifted its position in shares of Tactile Systems Technology by 67.4% during the first quarter. Janus Henderson Group PLC now owns 317,695 shares of the company’s stock worth $8,301,000 after purchasing an additional 127,942 shares during the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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.