Tactile Systems Technology (NASDAQ:TCMD) Sets New 52-Week High – Here’s What Happened

Tactile Systems Technology, Inc. (NASDAQ:TCMD) shares hit a new 52-week high during trading on Monday . The company traded as high as $25.25 and last traded at $24.63, with a volume of 4074 shares traded. The stock had previously closed at $24.86.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TCMD shares. Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Piper Sandler reissued a “neutral” rating and set a $20.00 price target (up from $14.00) on shares of Tactile Systems Technology in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tactile Systems Technology in a report on Wednesday, October 8th. William Blair raised shares of Tactile Systems Technology to a “strong-buy” rating in a report on Tuesday, August 5th. Finally, Lake Street Capital boosted their target price on shares of Tactile Systems Technology from $23.50 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Tactile Systems Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

Tactile Systems Technology Price Performance

The company has a current ratio of 3.79, a quick ratio of 3.36 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $15.03 and a 200 day moving average price of $12.37. The stock has a market capitalization of $550.69 million, a price-to-earnings ratio of 40.00 and a beta of 1.06.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.16 by $0.20. The company had revenue of $85.76 million for the quarter, compared to analyst estimates 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 has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TCMD. Prudential Financial Inc. grew its holdings in shares of Tactile Systems Technology by 3.5% in the second quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock valued at $247,000 after purchasing an additional 835 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of Tactile Systems Technology by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 67,249 shares of the company’s stock valued at $682,000 after buying an additional 1,029 shares during the period. Hohimer Wealth Management LLC increased its holdings in shares of Tactile Systems Technology by 4.5% during the 1st quarter. Hohimer Wealth Management LLC now owns 24,035 shares of the company’s stock worth $318,000 after buying an additional 1,040 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Tactile Systems Technology by 4.0% during the 2nd quarter. Rhumbline Advisers now owns 37,780 shares of the company’s stock worth $383,000 after buying an additional 1,441 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Tactile Systems Technology by 3.4% during the 2nd quarter. First Trust Advisors LP now owns 84,320 shares of the company’s stock valued at $855,000 after buying an additional 2,759 shares during the period. Institutional investors and hedge funds own 83.43% of the company’s stock.

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.