Tactile Systems Technology, Inc. (TCMD) – What Are Brokerages Saying About This Stock?

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently 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 1 year target price among brokers that have issued a report on the stock in the last year is $38.40.

Several research firms have recently weighed in on TCMD. Weiss Ratings downgraded Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, September 28th. Wall Street Zen raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Finally, BTIG Research decreased their price target on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, August 11th.

Tactile Systems Technology Price Performance

NASDAQ:TCMD opened at $22.44 on Monday. The stock’s 50 day simple moving average is $23.60 and its two-hundred day simple moving average is $25.34. Tactile Systems Technology has a 1 year low of $14.00 and a 1 year high of $37.77. The company has a market cap of $508.27 million, a price-to-earnings ratio of 20.78 and a beta of 0.82.

Tactile Systems Technology (NASDAQ:TCMD) last posted 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 return on equity of 11.49% and a net margin of 7.10%. The business had revenue of $85.70 million during the quarter, compared to analyst estimates of $85.52 million. As a group, analysts anticipate that Tactile Systems Technology will post 1.10 EPS for the current year.

Insider Activity

In other news, CEO Sheri Dodd sold 10,978 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.44, for a total value of $323,192.32. Following the completion of the sale, the chief executive officer directly owned 232,907 shares in the company, valued at $6,856,782.08. This represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Tactile Systems Technology

Several institutional investors have recently bought and sold shares of the company. First Light Asset Management LLC purchased a new position in shares of Tactile Systems Technology in the 2nd quarter valued at about $13,775,000. Engineers Gate Manager LP acquired a new position in Tactile Systems Technology in the 2nd quarter valued at about $400,000. IFP Advisors Inc lifted its holdings in shares of Tactile Systems Technology by 24.3% during the second quarter. IFP Advisors Inc now owns 3,606 shares of the company’s stock worth $107,000 after purchasing an additional 704 shares during the period. Amundi boosted its holdings in Tactile Systems Technology by 9.2% in the 2nd quarter. Amundi now owns 19,761 shares of the company’s stock valued at $588,000 after purchasing an additional 1,659 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in Tactile Systems Technology in the second quarter worth $3,607,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, doing business as Tactile Medical, is a medical technology company focused on developing, manufacturing and distributing devices for people with chronic swelling and respiratory conditions. Its products are intended for use in the home and are commonly prescribed by health care professionals as part of ongoing disease-management programs.

The company’s core products include the Flexitouch pneumatic compression system, designed to support the treatment of lymphedema and related conditions, and the Entre system, which provides pneumatic compression therapy for the upper and lower extremities.