Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives $37.40 Consensus Price Target from Brokerages

Tactile Systems Technology, Inc. (NASDAQ:TCMD) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $37.40.

A number of brokerages have recently commented on TCMD. Raymond James Financial set a $35.00 price objective on shares of Tactile Systems Technology in a research report on Monday, January 5th. B. Riley Financial upped their price objective 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, February 18th. Zacks Research lowered Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Friday, March 27th. Finally, BTIG Research upped their target price on Tactile Systems Technology from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th.

Insider Activity at Tactile Systems Technology

In related news, VP Kristie Burns sold 6,246 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total value of $180,759.24. Following the completion of the transaction, the vice president directly owned 82,581 shares in the company, valued at approximately $2,389,894.14. This represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Elaine M. Birkemeyer sold 7,701 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total value of $222,866.94. Following the completion of the transaction, the chief financial officer owned 134,819 shares of the company’s stock, valued at $3,901,661.86. The trade was a 5.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 50,137 shares of company stock worth $1,434,839. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Tactile Systems Technology by 4.8% in the fourth 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 in the last quarter. Paradigm Capital Management Inc. NY raised its holdings in shares of Tactile Systems Technology by 5.9% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock worth $16,413,000 after buying an additional 89,600 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Tactile Systems Technology by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,191,207 shares of the company’s stock worth $16,486,000 after buying an additional 24,001 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Tactile Systems Technology by 19.4% in the 4th quarter. Federated Hermes Inc. now owns 645,408 shares of the company’s stock worth $18,717,000 after buying an additional 104,648 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Tactile Systems Technology by 0.3% in the 4th quarter. Deutsche Bank AG now owns 578,669 shares of the company’s stock worth $16,781,000 after buying an additional 1,482 shares in the last quarter. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Tactile Systems Technology Stock Performance

Shares of TCMD opened at $25.35 on Monday. The company has a 50-day simple moving average of $27.17 and a 200-day simple moving average of $25.19. The firm has a market capitalization of $576.71 million, a P/E ratio of 30.54 and a beta of 0.99. Tactile Systems Technology has a 52 week low of $8.61 and a 52 week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $103.59 million during 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 9.26%. As a group, equities analysts forecast that Tactile Systems Technology will post 0.7 earnings per share 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.