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

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

Several equities research analysts recently commented on TCMD shares. BTIG Research raised their target price on Tactile Systems Technology from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Lake Street Capital set a $40.00 target price on Tactile Systems Technology and gave the company a “buy” rating in a report on Wednesday, February 18th. Piper Sandler raised their target price on Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. B. Riley Financial upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating and raised their target price for the company from $32.00 to $36.00 in a report on Thursday, May 7th. Finally, Weiss Ratings downgraded Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th.

Insider Activity at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $24.49, for a total transaction of $113,413.19. Following the sale, the chief financial officer directly owned 130,188 shares in the company, valued at approximately $3,188,304.12. This trade represents a 3.43% decrease in their position. The sale was disclosed in a 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. Also, VP Kristie Burns sold 6,246 shares of Tactile Systems Technology stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total value of $180,759.24. Following the sale, the vice president owned 82,581 shares in the company, valued at $2,389,894.14. This represents a 7.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 54,768 shares of company stock worth $1,548,252. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tactile Systems Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Tactile Systems Technology by 4.8% during the 4th 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 during the last quarter. Paradigm Capital Management Inc. NY increased its holdings in Tactile Systems Technology by 5.9% during the 2nd 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings in Tactile Systems Technology by 2.1% during the 3rd 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 during the last quarter. Federated Hermes Inc. increased its holdings in Tactile Systems Technology by 19.4% during the 4th 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 during the last quarter. Finally, Deutsche Bank AG increased its holdings in Tactile Systems Technology by 0.3% during the 4th 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 during the last quarter. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

Tactile Systems Technology Price Performance

NASDAQ TCMD opened at $23.04 on Friday. The firm has a market capitalization of $519.78 million, a P/E ratio of 26.18 and a beta of 0.82. Tactile Systems Technology has a 1-year low of $9.34 and a 1-year high of $37.77. The business’s 50-day simple moving average is $25.64 and its 200-day simple moving average is $26.58.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, May 4th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company 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%. On average, equities research analysts expect that Tactile Systems Technology will post 1.11 EPS for the current fiscal year.

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.