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 rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $38.60.

A number of brokerages have weighed in on TCMD. Weiss Ratings lowered shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. BTIG Research reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Tactile Systems Technology in a report on Thursday, May 21st. Finally, B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their target price for the company from $32.00 to $36.00 in a report on Thursday, May 7th.

Insider Buying and Selling

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $24.49, for a total value of $113,413.19. Following the transaction, the chief financial officer directly owned 130,188 shares of the company’s stock, valued at approximately $3,188,304.12. The trade was a 3.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Tactile Systems Technology

Several hedge funds have recently modified their holdings of TCMD. Goldman Sachs Group Inc. boosted its holdings in shares of Tactile Systems Technology by 2.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company’s stock valued at $2,471,000 after purchasing an additional 3,898 shares during the last quarter. Rhumbline Advisers increased its stake in Tactile Systems Technology by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 37,780 shares of the company’s stock worth $383,000 after acquiring an additional 1,441 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Tactile Systems Technology by 11.2% during the 2nd quarter. American Century Companies Inc. now owns 53,264 shares of the company’s stock worth $540,000 after acquiring an additional 5,364 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Tactile Systems Technology by 3.5% during the 2nd quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock valued at $247,000 after acquiring an additional 835 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Tactile Systems Technology in the second quarter valued at $1,464,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Price Performance

Shares of NASDAQ:TCMD opened at $30.28 on Friday. The company has a market cap of $683.12 million, a P/E ratio of 34.41 and a beta of 0.83. Tactile Systems Technology has a 1 year low of $9.41 and a 1 year high of $37.77. The stock’s fifty day moving average price is $25.18 and its 200-day moving average price is $27.12.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Tactile Systems Technology had a return on equity of 9.70% and a net margin of 5.91%.The business had revenue of $75.27 million during the quarter, compared to the consensus estimate of $70.57 million. On average, sell-side analysts anticipate that Tactile Systems Technology will post 1.11 earnings per share for the current year.

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.