Tactile Systems Technology, Inc. (TCMD) Set to Announce Quarterly Earnings on Wednesday
Tactile Systems Technology, Inc. (NASDAQ:TCMD) is set to issue its quarterly earnings data after the market closes on Wednesday, November 8th. Analysts expect the company to announce earnings of $0.05 per share for the quarter.
Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, August 7th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $26.30 million for the quarter, compared to analyst estimates of $23.88 million. Tactile Systems Technology had a return on equity of 3.05% and a net margin of 4.97%. Tactile Systems Technology’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS. On average, analysts expect Tactile Systems Technology to post $0.27 EPS for the current fiscal year and $0.21 EPS for the next fiscal year.
Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) opened at 28.69 on Wednesday. Tactile Systems Technology, Inc. has a 12 month low of $14.37 and a 12 month high of $37.88. The company’s 50-day moving average price is $31.84 and its 200-day moving average price is $28.30. The company has a market cap of $504.54 million, a price-to-earnings ratio of 108.67 and a beta of -0.01.
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In other news, VP Bryan Rishe sold 1,500 shares of Tactile Systems Technology stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $28.29, for a total value of $42,435.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gerald R. Mattys sold 30,000 shares of Tactile Systems Technology stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $31.47, for a total value of $944,100.00. Following the completion of the transaction, the chief executive officer now owns 327,885 shares in the company, valued at approximately $10,318,540.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,074,910 shares of company stock worth $33,409,113. Company insiders own 49.90% of the company’s stock.
TCMD has been the topic of a number of research reports. Guggenheim initiated coverage on Tactile Systems Technology in a research report on Thursday, October 12th. They set a “buy” rating and a $47.00 price target on the stock. Zacks Investment Research upgraded Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Thursday, August 10th. Canaccord Genuity reiterated a “buy” rating and issued a $37.00 price objective (up previously from $28.00) on shares of Tactile Systems Technology in a report on Tuesday, August 8th. ValuEngine upgraded Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Finally, Northland Securities reiterated a “hold” rating and issued a $31.50 price objective on shares of Tactile Systems Technology in a report on Monday, October 16th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $35.75.
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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