Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Tactile Systems Technology, Inc. (NASDAQ:TCMD) has received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $37.40.

A number of equities research analysts have recently commented on the company. BTIG Research raised their target price on Tactile Systems Technology from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Piper Sandler increased their price target on Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Zacks Research downgraded 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 company a “buy” rating in a research note on Wednesday, February 18th.

Insider Activity

In related news, VP Kristie Burns sold 6,246 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 value of $180,759.24. Following the transaction, the vice president directly owned 82,581 shares of the company’s stock, valued at approximately $2,389,894.14. This trade represents a 7.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sheri Louise Dodd sold 10,993 shares of the business’s 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 $318,137.42. Following the sale, the chief executive officer owned 243,885 shares of the company’s stock, valued at approximately $7,058,031.90. This trade represents a 4.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 Trading of Tactile Systems Technology

A number of institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new position in Tactile Systems Technology in the 4th quarter valued at $1,610,000. Invesco Ltd. grew its holdings in shares of Tactile Systems Technology by 180.8% during the fourth quarter. Invesco Ltd. now owns 160,333 shares of the company’s stock worth $4,650,000 after buying an additional 103,237 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Tactile Systems Technology during the fourth quarter worth $278,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Tactile Systems Technology in the fourth quarter valued at about $551,000. Finally, Empowered Funds LLC lifted its stake in shares of Tactile Systems Technology by 117.3% in the fourth quarter. Empowered Funds LLC now owns 104,258 shares of the company’s stock worth $3,023,000 after buying an additional 56,280 shares in the last quarter. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Price Performance

Shares of NASDAQ TCMD opened at $29.91 on Friday. The stock has a market capitalization of $671.18 million, a price-to-earnings ratio of 36.04 and a beta of 0.96. The firm’s 50 day simple moving average is $29.10 and its 200-day simple moving average is $21.95. Tactile Systems Technology has a 12 month low of $8.61 and a 12 month high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $103.59 million for the quarter, compared to the consensus estimate of $93.80 million. Analysts anticipate that Tactile Systems Technology will post 0.7 earnings per share 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.