Tactile Systems Technology (NASDAQ:TCMD) Hits New 52-Week High – Still a Buy?

Tactile Systems Technology, Inc. (NASDAQ:TCMD)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $28.18 and last traded at $28.17, with a volume of 22414 shares changing hands. The stock had previously closed at $27.75.

Analyst Upgrades and Downgrades

TCMD has been the topic of a number of recent research reports. Lake Street Capital boosted their target price on shares of Tactile Systems Technology from $23.50 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Piper Sandler restated a “neutral” rating and set a $20.00 target price (up from $14.00) on shares of Tactile Systems Technology in a research note on Tuesday, November 4th. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Tuesday, December 2nd. Finally, Zacks Research upgraded Tactile Systems Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.67.

Tactile Systems Technology Stock Up 1.0%

The stock has a 50 day moving average of $19.93 and a 200 day moving average of $14.42. The firm has a market capitalization of $626.10 million, a price-to-earnings ratio of 36.40 and a beta of 0.92.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, November 3rd. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.20. The company had revenue of $85.76 million for the quarter, compared to the consensus estimate of $79.31 million. Tactile Systems Technology had a return on equity of 8.84% and a net margin of 5.83%. Analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Institutional Trading of Tactile Systems Technology

A number of institutional investors and hedge funds have recently modified their holdings of TCMD. Vanguard Group Inc. boosted its holdings in shares of Tactile Systems Technology by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,501,006 shares of the company’s stock valued at $19,843,000 after buying an additional 17,314 shares during the period. Deutsche Bank AG raised its position in shares of Tactile Systems Technology by 1.0% during the 1st quarter. Deutsche Bank AG now owns 623,033 shares of the company’s stock worth $8,236,000 after purchasing an additional 6,421 shares during the period. Invesco Ltd. lifted its holdings in shares of Tactile Systems Technology by 19.8% in the 1st quarter. Invesco Ltd. now owns 35,637 shares of the company’s stock worth $471,000 after purchasing an additional 5,879 shares during the last quarter. Nuveen LLC acquired a new position in Tactile Systems Technology during the 1st quarter valued at approximately $783,000. Finally, American Century Companies Inc. grew its stake in Tactile Systems Technology by 22.3% during the 1st quarter. American Century Companies Inc. now owns 47,900 shares of the company’s stock worth $633,000 after buying an additional 8,739 shares during the last quarter. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.