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 rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $38.40.

TCMD has been the subject of several research analyst reports. Wall Street Zen lowered Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. BTIG Research lowered their target price on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Finally, Weiss Ratings raised Tactile Systems Technology from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday.

Tactile Systems Technology Stock Performance

NASDAQ:TCMD opened at $22.17 on Thursday. The stock has a market capitalization of $502.15 million, a P/E ratio of 20.53 and a beta of 0.80. The company has a 50 day moving average price of $25.63 and a 200 day moving average price of $26.01. Tactile Systems Technology has a fifty-two week low of $13.39 and a fifty-two week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.20. The firm had revenue of $85.70 million during the quarter, compared to the consensus estimate of $85.52 million. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. Research analysts forecast that Tactile Systems Technology will post 1.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sheri Dodd sold 10,978 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.44, for a total value of $323,192.32. Following the completion of the transaction, the chief executive officer owned 232,907 shares of the company’s stock, valued at approximately $6,856,782.08. This trade represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Tactile Systems Technology

Several large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new position in Tactile Systems Technology in the second quarter valued at $4,561,000. Empowered Funds LLC purchased a new stake in Tactile Systems Technology during the 2nd quarter worth about $3,607,000. BlackRock Inc. purchased a new stake in Tactile Systems Technology during the 2nd quarter worth about $56,733,000. LSV Asset Management raised its position in Tactile Systems Technology by 119.8% in the 4th quarter. LSV Asset Management now owns 323,004 shares of the company’s stock valued at $9,367,000 after purchasing an additional 176,059 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Tactile Systems Technology by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company’s stock valued at $47,884,000 after purchasing an additional 76,198 shares in the last quarter. 83.43% of the stock is owned by hedge funds and other institutional investors.

About Tactile Systems Technology

Tactile Systems Technology, Inc, doing business as Tactile Medical, develops and provides medical devices designed to help manage chronic conditions involving the circulatory and lymphatic systems. The company focuses primarily on home-based therapy for lymphedema, chronic venous insufficiency and related conditions.

Its portfolio includes pneumatic compression systems such as the Flexitouch Plus system for lymphedema and the Entre Plus system for treating lymphedema and chronic venous insufficiency.