Tactile Systems Technology (NASDAQ:TCMD) Trading Down 9.6% – What’s Next?

Tactile Systems Technology, Inc. (NASDAQ:TCMD)’s stock price traded down 9.6% during mid-day trading on Thursday . The company traded as low as $29.66 and last traded at $29.8760. 193,666 shares traded hands during trading, a decline of 43% from the average session volume of 341,980 shares. The stock had previously closed at $33.05.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TCMD shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Monday, December 29th. B. Riley Financial lifted their target price on shares of Tactile Systems Technology from $16.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday. Piper Sandler upped their price target on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Finally, Raymond James Financial set a $35.00 price objective on Tactile Systems Technology in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Tactile Systems Technology presently has a consensus rating of “Moderate Buy” and an average target price of $37.40.

Tactile Systems Technology Stock Down 8.7%

The stock has a market capitalization of $674.44 million, a price-to-earnings ratio of 36.31 and a beta of 0.96. The business’s 50-day moving average is $29.07 and its two-hundred day moving average is $21.30.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Tuesday, February 17th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $103.59 million for the quarter, compared to analyst estimates of $93.80 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.46%. As a group, analysts forecast that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at Tactile Systems Technology

In other Tactile Systems Technology news, VP Kristie Burns sold 5,139 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $28.85, for a total transaction of $148,260.15. Following the completion of the sale, the vice president owned 72,401 shares of the company’s stock, valued at $2,088,768.85. This trade represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tactile Systems Technology

Hedge funds have recently modified their holdings of the business. EP Wealth Advisors LLC purchased a new stake in Tactile Systems Technology in the 4th quarter valued at about $278,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Tactile Systems Technology during the fourth quarter valued at about $551,000. Empowered Funds LLC raised its stake in shares of Tactile Systems Technology by 117.3% in the 4th quarter. Empowered Funds LLC now owns 104,258 shares of the company’s stock valued at $3,023,000 after acquiring an additional 56,280 shares during the period. XTX Topco Ltd purchased a new stake in Tactile Systems Technology in the fourth quarter valued at approximately $663,000. Finally, Occudo Quantitative Strategies LP acquired a new position in Tactile Systems Technology during the fourth quarter worth $242,000. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

About Tactile Systems Technology

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.