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

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $38.60.

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

Tactile Systems Technology Trading Up 0.1%

TCMD opened at $28.43 on Wednesday. The firm has a market capitalization of $641.38 million, a PE ratio of 32.31 and a beta of 0.79. Tactile Systems Technology has a twelve month low of $9.60 and a twelve month high of $37.77. The firm’s 50-day moving average price is $26.98 and its 200 day moving average price is $27.20.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The business had revenue of $75.27 million for the quarter, compared to analysts’ expectations 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, analysts predict that Tactile Systems Technology will post 1.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Tactile Systems Technology

In other news, CFO Elaine M. Birkemeyer sold 4,631 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $24.49, for a total transaction of $113,413.19. Following the transaction, the chief financial officer 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.10% of the company’s stock.

Institutional Trading of Tactile Systems Technology

Several hedge funds have recently made changes to their positions in TCMD. Russell Investments Group Ltd. increased its holdings in shares of Tactile Systems Technology by 1,594.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after buying an additional 1,993 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Tactile Systems Technology in the fourth quarter valued at approximately $32,000. Quarry LP lifted its holdings in Tactile Systems Technology by 302.6% in the third quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after acquiring an additional 1,743 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Tactile Systems Technology in the fourth quarter worth approximately $36,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Tactile Systems Technology in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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.