Tactile Systems Technology (NASDAQ:TCMD) Shares Down 3.4% – Time to Sell?

Tactile Systems Technology, Inc. (NASDAQ:TCMD) shares traded down 3.4% on Friday . The stock traded as low as $27.20 and last traded at $28.01. 83,392 shares were traded during trading, a decline of 75% from the average session volume of 329,423 shares. The stock had previously closed at $29.00.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Zacks Research raised Tactile Systems Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Tactile Systems Technology in a research report on Monday. Lake Street Capital upped 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. Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Finally, Piper Sandler reissued a “neutral” rating and set a $20.00 price target (up previously from $14.00) on shares of Tactile Systems Technology in a report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Tactile Systems Technology Stock Down 5.3%

The business’s 50 day moving average is $25.15 and its two-hundred day moving average is $16.75. The firm has a market capitalization of $613.68 million, a P/E ratio of 35.71 and a beta of 0.91.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly 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 net margin of 5.83% and a return on equity of 8.84%. As a group, equities analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tactile Systems Technology

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC raised 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 worth $6,930,000 after buying an additional 487,392 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Tactile Systems Technology by 42.7% during the second quarter. Federated Hermes Inc. now owns 551,561 shares of the company’s stock worth $5,593,000 after buying an additional 165,163 shares in the last quarter. Norges Bank acquired a new position in Tactile Systems Technology in the second quarter worth approximately $1,464,000. LSV Asset Management lifted 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 valued at $2,034,000 after acquiring an additional 110,645 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in shares of Tactile Systems Technology by 297.3% during the 3rd quarter. Bridgeway Capital Management LLC now owns 133,878 shares of the company’s stock worth $1,853,000 after acquiring an additional 100,178 shares in the last quarter. 83.43% of the stock is currently owned by institutional investors and hedge funds.

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.