Tactile Systems Technology, Inc. (NASDAQ:TCMD) Given Consensus Rating of “Moderate Buy” by Analysts

Tactile Systems Technology, Inc. (NASDAQ:TCMD) has earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $28.75.

A number of research firms recently commented on TCMD. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Lake Street Capital boosted their price objective on Tactile Systems Technology from $23.50 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Raymond James Financial set a $35.00 target price on Tactile Systems Technology in a research note on Monday, January 5th. Piper Sandler set a $35.00 price target on Tactile Systems Technology in a report on Monday, January 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a research report on Monday, December 29th.

Insider Activity

In other news, VP Kristie Burns sold 5,139 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $28.85, for a total transaction of $148,260.15. Following the sale, the vice president directly owned 72,401 shares of the company’s stock, valued at $2,088,768.85. This represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TCMD. Acadian Asset Management LLC lifted its stake in shares of Tactile Systems Technology by 248.3% in the 2nd quarter. Acadian Asset Management LLC now owns 683,662 shares of the company’s stock valued at $6,930,000 after purchasing an additional 487,392 shares during the period. Federated Hermes Inc. increased its holdings in Tactile Systems Technology by 42.7% in the second quarter. Federated Hermes Inc. now owns 551,561 shares of the company’s stock valued at $5,593,000 after purchasing an additional 165,163 shares during the last quarter. Norges Bank acquired a new position in Tactile Systems Technology in the second quarter valued at about $1,464,000. LSV Asset Management grew its position in shares of Tactile Systems Technology by 304.8% during the 3rd quarter. LSV Asset Management now owns 146,945 shares of the company’s stock worth $2,034,000 after buying an additional 110,645 shares during the period. Finally, Bridgeway Capital Management LLC increased its stake in shares of Tactile Systems Technology by 297.3% in the 3rd quarter. Bridgeway Capital Management LLC now owns 133,878 shares of the company’s stock valued at $1,853,000 after acquiring an additional 100,178 shares during the last quarter. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Stock Down 0.4%

Shares of TCMD stock opened at $29.11 on Wednesday. The company has a market capitalization of $650.32 million, a P/E ratio of 37.81 and a beta of 0.91. Tactile Systems Technology has a 12-month low of $8.61 and a 12-month high of $31.38. The firm has a 50-day moving average price of $28.50 and a 200 day moving average price of $19.35.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.20. Tactile Systems Technology had a net margin of 5.83% and a return on equity of 8.84%. The company had revenue of $85.76 million during the quarter, compared to analyst estimates of $79.31 million. As a group, research analysts expect that Tactile Systems Technology will post 0.7 earnings per share for the current year.

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.