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

Tactile Systems Technology, Inc. (NASDAQ:TCMD) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $37.40.

TCMD has been the subject of several recent research reports. B. Riley Financial boosted their price target on shares of Tactile Systems Technology from $16.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. BTIG Research boosted their price objective on shares of Tactile Systems Technology from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Monday, December 29th. Lake Street Capital set a $40.00 price target on Tactile Systems Technology and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st.

Tactile Systems Technology Stock Down 2.1%

Shares of NASDAQ TCMD opened at $29.29 on Friday. Tactile Systems Technology has a twelve month low of $8.61 and a twelve month high of $37.77. The firm has a market cap of $657.27 million, a PE ratio of 35.29 and a beta of 0.96. The business has a fifty day simple moving average of $29.11 and a two-hundred day simple moving average of $22.13.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. Tactile Systems Technology had a return on equity of 9.26% and a net margin of 5.79%.The firm had revenue of $103.59 million for the quarter, compared to analyst estimates of $93.80 million. On average, research analysts expect that Tactile Systems Technology will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 7,701 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total transaction of $222,866.94. Following the completion of the sale, the chief financial officer directly owned 134,819 shares of the company’s stock, valued at approximately $3,901,661.86. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Kristie Burns sold 6,246 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total transaction of $180,759.24. Following the completion of the sale, the vice president owned 82,581 shares in the company, valued at $2,389,894.14. This represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 55,276 shares of company stock worth $1,583,099. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tactile Systems Technology

Large investors have recently made changes to their positions in the business. LSV Asset Management increased its stake in Tactile Systems Technology by 304.8% during the 3rd quarter. LSV Asset Management now owns 146,945 shares of the company’s stock valued at $2,034,000 after purchasing an additional 110,645 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC purchased a new stake in shares of Tactile Systems Technology during the second quarter valued at $134,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Tactile Systems Technology in the 2nd quarter valued at $497,000. Pinnacle Associates Ltd. increased its position in shares of Tactile Systems Technology by 5.5% in the 2nd quarter. Pinnacle Associates Ltd. now owns 340,374 shares of the company’s stock valued at $3,451,000 after acquiring an additional 17,850 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Tactile Systems Technology by 248.3% in the 2nd quarter. Acadian Asset Management LLC now owns 683,662 shares of the company’s stock worth $6,930,000 after acquiring an additional 487,392 shares during the last quarter. 83.43% of the stock is owned by institutional investors and hedge funds.

About Tactile Systems Technology

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.