Tactile Systems Technology, Inc. (NASDAQ:TCMD – Get Free Report) has received an average rating of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $38.60.
TCMD has been the topic of several recent research reports. Lake Street Capital set a $40.00 price objective on Tactile Systems Technology and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Piper Sandler raised their price objective on Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Weiss Ratings downgraded Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $32.00 to $36.00 in a research note on Thursday, May 7th. Finally, BTIG Research raised their price objective on Tactile Systems Technology from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th.
Get Our Latest Stock Report on TCMD
Tactile Systems Technology Stock Performance
Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Tactile Systems Technology had a return on equity of 9.70% and a net margin of 5.91%.The company had revenue of $75.27 million during the quarter, compared to the consensus estimate of $70.57 million. As a group, equities analysts forecast that Tactile Systems Technology will post 1.11 earnings per share for the current fiscal year.
Insider Transactions at Tactile Systems Technology
In other news, VP Kristie Burns sold 6,246 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total value of $180,759.24. Following the transaction, the vice president owned 82,581 shares of the company’s stock, valued at $2,389,894.14. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elaine M. Birkemeyer sold 7,701 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was 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 directly owned 134,819 shares in the company, valued at $3,901,661.86. This trade represents a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 50,137 shares of company stock valued at $1,434,839 over the last quarter. 2.10% of the stock is currently owned by company insiders.
Institutional Trading of Tactile Systems Technology
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new stake in Tactile Systems Technology during the 4th quarter valued at approximately $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Tactile Systems Technology during the 4th quarter valued at approximately $36,000. Global Retirement Partners LLC bought a new stake in Tactile Systems Technology during the 4th quarter valued at approximately $37,000. Russell Investments Group Ltd. raised its stake in Tactile Systems Technology by 1,594.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock valued at $29,000 after purchasing an additional 1,993 shares during the period. Finally, Quarry LP raised its stake in Tactile Systems Technology by 302.6% during the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after purchasing an additional 1,743 shares during the period. Institutional investors own 83.43% of the company’s stock.
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.
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