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

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $38.60.

TCMD has been the subject of a number of research reports. B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $32.00 to $36.00 in a research report on Thursday, May 7th. Lake Street Capital set a $40.00 price objective on Tactile Systems Technology and gave the company a “buy” rating in a research report on Wednesday, February 18th. Piper Sandler lifted their price objective on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Weiss Ratings cut shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Finally, BTIG Research reiterated a “buy” rating and issued a $40.00 price objective on shares of Tactile Systems Technology in a report on Thursday, May 21st.

Tactile Systems Technology Trading Down 2.6%

TCMD opened at $23.98 on Tuesday. The stock has a market cap of $540.89 million, a price-to-earnings ratio of 27.25 and a beta of 0.82. Tactile Systems Technology has a 1 year low of $9.41 and a 1 year high of $37.77. The stock has a fifty day moving average price of $24.81 and a 200 day moving average price of $26.99.

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

Insider Transactions at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $24.49, for a total value of $113,413.19. Following the completion of the sale, the chief financial officer directly owned 130,188 shares in the company, valued at approximately $3,188,304.12. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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.

Institutional Investors Weigh In On Tactile Systems Technology

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Tactile Systems Technology by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company’s stock worth $47,884,000 after purchasing an additional 76,198 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its holdings in Tactile Systems Technology by 5.9% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock worth $16,413,000 after purchasing an additional 89,600 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tactile Systems Technology by 2.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,191,207 shares of the company’s stock worth $16,486,000 after purchasing an additional 24,001 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Tactile Systems Technology by 19.4% in the fourth quarter. Federated Hermes Inc. now owns 645,408 shares of the company’s stock worth $18,717,000 after purchasing an additional 104,648 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Tactile Systems Technology by 0.3% in the fourth quarter. Deutsche Bank AG now owns 578,669 shares of the company’s stock worth $16,781,000 after purchasing an additional 1,482 shares in the last quarter. 83.43% of the stock is currently owned by 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.