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

Tactile Systems Technology, Inc. (NASDAQ:TCMD) has earned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $37.40.

A number of equities analysts have issued reports on TCMD shares. Raymond James Financial set a $35.00 price target on Tactile Systems Technology in a research report on Monday, January 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Tactile Systems Technology in a research report on Monday, December 29th. B. Riley Financial upped their target price on Tactile Systems Technology from $16.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Zacks Research cut shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Lake Street Capital set a $40.00 price target on shares of Tactile Systems Technology and gave the stock a “buy” rating in a report on Wednesday, February 18th.

Tactile Systems Technology Stock Performance

Shares of NASDAQ TCMD opened at $26.51 on Thursday. The company has a market capitalization of $603.10 million, a PE ratio of 31.94 and a beta of 0.97. The company’s fifty day moving average price is $28.59 and its 200 day moving average price is $23.89. Tactile Systems Technology has a 1 year low of $8.61 and a 1 year high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Tuesday, February 17th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.26%. The business had revenue of $103.59 million for the quarter, compared to analyst estimates of $93.80 million. On average, equities analysts expect that Tactile Systems Technology will post 0.7 EPS for the current year.

Insider Activity

In related news, VP Kristie Burns sold 6,246 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total transaction of $180,759.24. Following the completion of the transaction, the vice president owned 82,581 shares in the company, valued at $2,389,894.14. This represents a 7.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sheri Louise Dodd sold 10,993 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total transaction of $318,137.42. Following the completion of the transaction, the chief executive officer directly owned 243,885 shares in the company, valued at $7,058,031.90. This represents a 4.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,276 shares of company stock worth $1,583,099 over the last 90 days. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tactile Systems Technology

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

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.