Analysts Issue Forecasts for Tactile Systems Technology, Inc.’s FY2017 Earnings (TCMD)
Tactile Systems Technology, Inc. (NASDAQ:TCMD) – Equities research analysts at William Blair lifted their FY2017 earnings per share (EPS) estimates for shares of Tactile Systems Technology in a research note issued to investors on Tuesday. William Blair analyst M. Kaczor now expects that the company will earn $0.34 per share for the year, up from their previous forecast of $0.32. William Blair also issued estimates for Tactile Systems Technology’s Q3 2018 earnings at $0.06 EPS.
TCMD has been the subject of several other reports. Zacks Investment Research upgraded Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Thursday, August 10th. Piper Jaffray Companies raised their price objective on Tactile Systems Technology from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. Guggenheim initiated coverage on Tactile Systems Technology in a research note on Thursday, October 12th. They issued a “buy” rating and a $47.00 price objective for the company. Northland Securities initiated coverage on Tactile Systems Technology in a research note on Tuesday, October 17th. They issued a “market perform” rating for the company. Finally, BTIG Research cut Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Monday, September 18th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Tactile Systems Technology presently has a consensus rating of “Hold” and a consensus target price of $35.75.
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Tactile Systems Technology (NASDAQ TCMD) opened at $24.45 on Thursday. Tactile Systems Technology has a 12 month low of $14.37 and a 12 month high of $37.88. The stock has a market capitalization of $470.71, a PE ratio of 178.00, a PEG ratio of 5.49 and a beta of -0.57.
Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Tactile Systems Technology had a return on equity of 4.88% and a net margin of 5.84%. The company had revenue of $28.28 million during the quarter, compared to analysts’ expectations of $27.66 million. During the same period last year, the business posted $0.01 earnings per share. The firm’s revenue was up 25.0% compared to the same quarter last year.
In other Tactile Systems Technology news, VP Bryan Rishe sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $33.57, for a total value of $50,355.00. Following the sale, the vice president now directly owns 112,807 shares of the company’s stock, valued at $3,786,930.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Robert J. Folkes sold 4,455 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $28.32, for a total value of $126,165.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,078,547 shares of company stock worth $33,504,374. 49.90% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in shares of Tactile Systems Technology by 39.3% in the second quarter. JPMorgan Chase & Co. now owns 4,435 shares of the company’s stock worth $127,000 after acquiring an additional 1,252 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Tactile Systems Technology by 1,118.5% in the first quarter. Bank of America Corp DE now owns 6,982 shares of the company’s stock worth $133,000 after acquiring an additional 6,409 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Tactile Systems Technology in the second quarter worth approximately $146,000. Nationwide Fund Advisors boosted its stake in shares of Tactile Systems Technology by 201.8% in the second quarter. Nationwide Fund Advisors now owns 5,170 shares of the company’s stock worth $148,000 after acquiring an additional 3,457 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Tactile Systems Technology by 10,882.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock worth $213,000 after acquiring an additional 7,400 shares during the last quarter. 48.53% of the stock is currently owned by institutional investors.
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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