Tactile Systems Technology, Inc. (TCMD) Expected to Post Earnings of $0.01 Per Share
Wall Street brokerages forecast that Tactile Systems Technology, Inc. (NASDAQ:TCMD) will post earnings per share (EPS) of $0.01 for the current quarter, Zacks reports. Zero analysts have provided estimates for Tactile Systems Technology’s earnings, with estimates ranging from $0.00 to $0.02. Tactile Systems Technology reported earnings per share of $0.04 during the same quarter last year, which would indicate a negative year over year growth rate of 75%. The firm is scheduled to report its next quarterly earnings results on Wednesday, September 6th.
According to Zacks, analysts expect that Tactile Systems Technology will report full year earnings of $0.14 per share for the current financial year, with EPS estimates ranging from $0.13 to $0.14. For the next financial year, analysts forecast that the company will report earnings of $0.22 per share, with EPS estimates ranging from $0.19 to $0.24. Zacks’ EPS averages are an average based on a survey of research analysts that cover Tactile Systems Technology.
Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Monday, May 8th. The company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. Tactile Systems Technology had a return on equity of 4.82% and a net margin of 2.24%. The firm had revenue of $19.85 million during the quarter, compared to the consensus estimate of $16.17 million. During the same quarter in the previous year, the company posted ($0.45) earnings per share. The business’s revenue was up 44.9% on a year-over-year basis.
TCMD has been the subject of a number of research analyst reports. Canaccord Genuity reissued a “buy” rating on shares of Tactile Systems Technology in a research note on Tuesday, February 28th. Zacks Investment Research raised Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Saturday. Finally, BTIG Research reissued a “buy” rating and set a $26.00 price target on shares of Tactile Systems Technology in a research note on Friday, March 10th. Five analysts have rated the stock with a buy rating, Tactile Systems Technology presently has a consensus rating of “Buy” and an average price target of $24.00.
Shares of Tactile Systems Technology (TCMD) opened at 25.80 on Tuesday. The firm has a 50-day moving average price of $22.47 and a 200 day moving average price of $18.33. The company has a market cap of $437.05 million and a P/E ratio of 232.43. Tactile Systems Technology has a 12 month low of $10.00 and a 12 month high of $26.99.
In related news, VP Bryan Rishe sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $18.62, for a total transaction of $27,930.00. Following the completion of the sale, the vice president now directly owns 102,722 shares of the company’s stock, valued at approximately $1,912,683.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mary E. Anderson sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $18.57, for a total value of $185,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 678,326 shares of company stock valued at $15,377,853 over the last three months. 49.90% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Driehaus Capital Management LLC raised its stake in shares of Tactile Systems Technology by 32.1% in the first quarter. Driehaus Capital Management LLC now owns 427,166 shares of the company’s stock worth $8,095,000 after buying an additional 103,890 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tactile Systems Technology by 109.6% in the first quarter. Vanguard Group Inc. now owns 316,566 shares of the company’s stock worth $5,999,000 after buying an additional 165,506 shares in the last quarter. RTW Investments LP raised its stake in shares of Tactile Systems Technology by 9.3% in the fourth quarter. RTW Investments LP now owns 248,762 shares of the company’s stock worth $4,082,000 after buying an additional 21,163 shares in the last quarter. RTW Investments LLC acquired a new stake in shares of Tactile Systems Technology during the third quarter worth about $4,256,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Tactile Systems Technology during the first quarter worth about $2,789,000. 30.66% of the stock is owned by hedge funds and other institutional investors.
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About Tactile Systems Technology
Tactile Systems Technology, Inc is a medical technology company that develops and provides medical devices for the treatment of chronic diseases at home. The Company is a manufacturer and distributor of the Flexitouch and Entre Systems, medical devices that help control symptoms of lymphedema, a chronic and progressive medical condition that is often an unintended consequence of cancer treatment, and the ACTitouch System, a medical device used to treat venous leg ulcers and chronic venous insufficiency.
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