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

Tactile Systems Technology, Inc. (NASDAQ:TCMD) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $37.40.

TCMD has been the topic of several analyst reports. Zacks Research downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Wall Street Zen upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Monday, December 29th. Piper Sandler upped their target price on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, B. Riley Financial raised their price target on Tactile Systems Technology from $16.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday.

Tactile Systems Technology Stock Up 1.7%

Shares of TCMD opened at $28.72 on Friday. The business has a 50-day simple moving average of $29.09 and a two-hundred day simple moving average of $21.54. Tactile Systems Technology has a 52 week low of $8.61 and a 52 week high of $37.77. The stock has a market cap of $644.48 million, a price-to-earnings ratio of 34.60 and a beta of 0.96.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $103.59 million for the quarter, compared to analysts’ expectations of $93.80 million. Tactile Systems Technology had a return on equity of 9.26% and a net margin of 5.79%. On average, equities analysts anticipate that Tactile Systems Technology will post 0.7 earnings per share for the current fiscal year.

Insider Transactions at Tactile Systems Technology

In related news, VP Kristie Burns sold 5,139 shares of Tactile Systems Technology stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $28.85, for a total transaction of $148,260.15. Following the sale, the vice president owned 72,401 shares of the company’s stock, valued at approximately $2,088,768.85. This trade represents a 6.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Tactile Systems Technology

A number of institutional investors have recently added to or reduced their stakes in TCMD. Goldman Sachs Group Inc. raised its position in shares of Tactile Systems Technology by 2.1% during the first quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company’s stock valued at $2,471,000 after buying an additional 3,898 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Tactile Systems Technology during the second quarter valued at $497,000. Pinnacle Associates Ltd. grew its stake in Tactile Systems Technology by 5.5% during the second quarter. Pinnacle Associates Ltd. now owns 340,374 shares of the company’s stock valued at $3,451,000 after acquiring an additional 17,850 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Tactile Systems Technology by 248.3% in the 2nd quarter. Acadian Asset Management LLC now owns 683,662 shares of the company’s stock worth $6,930,000 after purchasing an additional 487,392 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC purchased a new stake in Tactile Systems Technology in the 2nd quarter worth $134,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

About Tactile Systems Technology

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.