Tactile Systems Technology, Inc. (NASDAQ:TCMD) Expected to Post Quarterly Sales of $58.22 Million

Equities analysts expect Tactile Systems Technology, Inc. (NASDAQ:TCMD) to announce $58.22 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Tactile Systems Technology’s earnings, with the highest sales estimate coming in at $58.65 million and the lowest estimate coming in at $57.60 million. Tactile Systems Technology reported sales of $59.24 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1.7%. The firm is expected to issue its next quarterly earnings report on Tuesday, February 22nd.

On average, analysts expect that Tactile Systems Technology will report full-year sales of $204.53 million for the current financial year, with estimates ranging from $203.90 million to $204.98 million. For the next year, analysts expect that the firm will report sales of $241.01 million, with estimates ranging from $236.12 million to $249.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Tactile Systems Technology.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, November 8th. The company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.20). Tactile Systems Technology had a net margin of 3.79% and a return on equity of 6.32%. During the same period in the prior year, the firm posted $0.12 earnings per share.

A number of research analysts recently commented on the company. Zacks Investment Research cut Tactile Systems Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 11th. Oppenheimer reduced their target price on Tactile Systems Technology from $62.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 9th. BTIG Research upped their price target on shares of Tactile Systems Technology from $44.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 9th. They noted that the move was a valuation call. Finally, Piper Sandler cut their price target on shares of Tactile Systems Technology from $70.00 to $45.00 and set an “overweight” rating for the company in a research report on Tuesday, November 9th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Tactile Systems Technology presently has a consensus rating of “Buy” and an average price target of $52.50.

TCMD traded down $0.06 during trading on Thursday, reaching $21.86. The stock had a trading volume of 103,631 shares, compared to its average volume of 156,767. The stock has a market capitalization of $433.33 million, a PE ratio of 56.05 and a beta of 1.43. The company has a current ratio of 3.40, a quick ratio of 3.96 and a debt-to-equity ratio of 0.40. Tactile Systems Technology has a one year low of $21.37 and a one year high of $64.53. The firm’s 50-day moving average is $37.48.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley boosted its position in Tactile Systems Technology by 228.4% during the first quarter. Morgan Stanley now owns 416,565 shares of the company’s stock valued at $22,698,000 after buying an additional 289,734 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Tactile Systems Technology by 4.4% during the second quarter. Vanguard Group Inc. now owns 1,297,465 shares of the company’s stock worth $67,468,000 after purchasing an additional 54,638 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Tactile Systems Technology by 35.8% during the second quarter. Dimensional Fund Advisors LP now owns 264,666 shares of the company’s stock worth $13,762,000 after purchasing an additional 69,814 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Tactile Systems Technology by 4.9% during the first quarter. Ameriprise Financial Inc. now owns 86,612 shares of the company’s stock worth $4,720,000 after purchasing an additional 4,078 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Tactile Systems Technology by 4.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 135,726 shares of the company’s stock worth $7,058,000 after purchasing an additional 5,300 shares during the period. Institutional investors and hedge funds own 96.34% of the company’s stock.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc is a medical technology company. It develops and provides innovative medical devices for the treatment of chronic diseases at home. The company focus on advancing the standard of care in treating chronic diseases in the home setting to improve patient outcomes and quality of life and help control rising healthcare expenditures.

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Earnings History and Estimates for Tactile Systems Technology (NASDAQ:TCMD)

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