Tactile Systems Technology (NASDAQ:TCMD) Posts Quarterly Earnings Results

Tactile Systems Technology (NASDAQ:TCMD) released its quarterly earnings results on Monday. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03, FiscalAI reports. The firm had revenue of $91.86 million during the quarter, compared to the consensus estimate of $91.99 million. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%.

Tactile Systems Technology Stock Performance

Shares of NASDAQ:TCMD traded down $0.17 during midday trading on Monday, hitting $22.87. 233,142 shares of the stock were exchanged, compared to its average volume of 301,096. The business’s fifty day simple moving average is $22.74 and its two-hundred day simple moving average is $25.94. Tactile Systems Technology has a 52-week low of $15.32 and a 52-week high of $37.77. The company has a market capitalization of $518.05 million, a PE ratio of 21.18 and a beta of 0.82.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday. BTIG Research decreased their target price on Tactile Systems Technology from $39.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Finally, Weiss Ratings upgraded Tactile Systems Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 13th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.60.

Insider Activity

In related news, CEO Sheri Dodd sold 10,978 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was 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 owned 232,907 shares of the company’s stock, valued at approximately $6,856,782.08. The trade was a 4.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is currently owned by corporate insiders.

Tactile Systems Technology Company Profile

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.