Tactile Systems Technology (NASDAQ:TCMD) Stock Gets Price Target Reduction from BTIG Research

Tactile Systems Technology (NASDAQ:TCMD) had its price target reduced by research analysts at BTIG Research from $35.00 to $31.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research‘s price target points to a potential upside of 35.55% from the stock’s previous close.

Several other research firms have also issued reports on TCMD. Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings raised Tactile Systems Technology from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 13th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Tactile Systems Technology currently has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Tactile Systems Technology Stock Performance

Shares of Tactile Systems Technology stock opened at $22.87 on Tuesday. The firm has a 50-day moving average of $22.72 and a 200-day moving average of $25.91. Tactile Systems Technology has a 52-week low of $15.32 and a 52-week high of $37.77. The stock has a market cap of $518.01 million, a PE ratio of 22.14 and a beta of 0.82.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, November 2nd. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. The business had revenue of $91.86 million for the quarter, compared to analyst estimates of $91.99 million. Equities research analysts predict that Tactile Systems Technology will post 1.10 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sheri Dodd sold 10,978 shares of Tactile Systems Technology stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the transaction, the chief executive officer owned 232,907 shares in the company, valued at approximately $6,856,782.08. The trade was a 4.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Tactile Systems Technology in the 2nd quarter valued at about $56,733,000. First Light Asset Management LLC bought a new position in shares of Tactile Systems Technology during the second quarter worth about $13,775,000. Jupiter Topco LLC acquired a new position in shares of Tactile Systems Technology in the second quarter worth approximately $11,831,000. Punch & Associates Investment Management Inc. acquired a new position in shares of Tactile Systems Technology in the second quarter worth approximately $9,381,000. Finally, Paradigm Capital Management Inc. NY acquired a new position in shares of Tactile Systems Technology in the second quarter worth approximately $6,826,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Tactile Systems Technology

Here are the key news stories impacting Tactile Systems Technology this week:

• Positive Sentiment: Third-quarter adjusted earnings were $0.31 per share, exceeding estimates ranging from $0.28 to $0.30. The earnings beat provides support for the stock, although profit declined from $0.36 per share a year earlier. Tactile Systems Technology Q3 earnings report
• Positive Sentiment: Lymphedema product revenue increased 13% year over year to $81.8 million, reinforcing the company’s core growth strategy. Management also highlighted technology improvements that cut medical-record review times by approximately 50%, potentially improving operating efficiency and patient access. Tactile Systems three key takeaways
• Neutral Sentiment: Quarterly revenue of $91.86 million was essentially in line with, but slightly below, the $91.99 million analyst consensus. Wall Street Zen’s rating upgrade may provide some incremental investor support, but it does not change the underlying earnings outlook. Wall Street Zen rating upgrade
• Negative Sentiment: Growth remains concentrated in lymphedema: the smaller airway-clearance business declined, while a deepening AffloVest inventory issue adds execution risk and could weigh on future sales and cash flow. Tactile Medical earnings and AffloVest inventory report
• Negative Sentiment: Higher sales and administrative expenses pushed operating income below the prior-year level, limiting the benefit of revenue growth and raising concerns about margin expansion. Tactile Medical spending and earnings reaction

About Tactile Systems Technology

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.