Brokerages Set Tactile Systems Technology, Inc. (NASDAQ:TCMD) Price Target at $38.60

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $38.60.

Several analysts recently issued reports on TCMD shares. BTIG Research reiterated a “buy” rating and set a $40.00 price objective on shares of Tactile Systems Technology in a report on Thursday, May 21st. Weiss Ratings lowered Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Finally, B. Riley Financial upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating and lifted their price target for the company from $32.00 to $36.00 in a report on Thursday, May 7th.

Insider Transactions at Tactile Systems Technology

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 4,631 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $24.49, for a total value of $113,413.19. Following the completion of the sale, the chief financial officer directly owned 130,188 shares of the company’s stock, valued at $3,188,304.12. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tactile Systems Technology

Several institutional investors and hedge funds have recently modified their holdings of TCMD. Range Financial Group LLC acquired a new position in shares of Tactile Systems Technology during the 4th quarter worth about $1,291,000. Vanguard Group Inc. boosted its stake 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 valued at $47,884,000 after purchasing an additional 76,198 shares during the period. LSV Asset Management grew its holdings 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 buying an additional 176,059 shares during the last quarter. RFG Advisory LLC acquired a new stake in Tactile Systems Technology in the 4th quarter valued at approximately $1,529,000. Finally, Punch & Associates Investment Management Inc. increased its position in Tactile Systems Technology by 8.0% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 373,975 shares of the company’s stock worth $10,845,000 after buying an additional 27,850 shares during the period. Institutional investors and hedge funds own 83.43% of the company’s stock.

Tactile Systems Technology Stock Performance

TCMD stock opened at $27.74 on Wednesday. The firm has a 50 day simple moving average of $27.40 and a 200 day simple moving average of $27.14. Tactile Systems Technology has a 52 week low of $9.60 and a 52 week high of $37.77. The stock has a market cap of $625.81 million, a P/E ratio of 31.52 and a beta of 0.79.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $75.27 million during the quarter, compared to analysts’ expectations of $70.57 million. Tactile Systems Technology had a return on equity of 9.70% and a net margin of 5.91%. Sell-side analysts predict that Tactile Systems Technology will post 1.11 EPS for the current year.

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.