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

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $38.40.

A number of research analysts have issued reports on TCMD shares. BTIG Research lowered their price objective on shares of Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Weiss Ratings raised Tactile Systems Technology from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Monday. Wall Street Zen downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and increased their price objective for the company from $32.00 to $36.00 in a report on Thursday, May 7th.

Tactile Systems Technology Stock Down 0.7%

TCMD opened at $23.43 on Friday. The company has a market cap of $530.69 million, a P/E ratio of 21.69 and a beta of 0.81. The firm’s 50-day moving average price is $27.91 and its 200-day moving average price is $26.77. Tactile Systems Technology has a 52-week low of $12.65 and a 52-week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, August 10th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.20. The company had revenue of $85.70 million during the quarter, compared to analysts’ expectations of $85.52 million. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. On average, research analysts anticipate that Tactile Systems Technology will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sheri Louise Dodd sold 10,978 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.44, for a total value of $323,192.32. Following the transaction, the chief executive officer owned 232,907 shares in the company, valued at approximately $6,856,782.08. This represents a 4.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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.

Institutional Trading of Tactile Systems Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its stake in shares of Tactile Systems Technology by 1,594.4% in the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after acquiring an additional 1,993 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Tactile Systems Technology during the fourth quarter valued at $32,000. Quarry LP boosted its holdings in Tactile Systems Technology by 302.6% in the third quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after purchasing an additional 1,743 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Tactile Systems Technology in the fourth quarter valued at $36,000. Finally, Global Retirement Partners LLC acquired a new stake in Tactile Systems Technology during the 4th quarter worth about $37,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

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.