Tactile Systems Technology, Inc. (NASDAQ:TCMD – Get Free Report) has been given an average rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $38.60.
TCMD has been the topic of several recent research reports. B. Riley Financial upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their price objective for the company from $32.00 to $36.00 in a research report on Thursday, May 7th. BTIG Research reiterated a “buy” rating and set a $40.00 price objective on shares of Tactile Systems Technology in a research report on Thursday, May 21st. Finally, Weiss Ratings downgraded shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th.
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Tactile Systems Technology Price Performance
Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) last announced its earnings results on Monday, May 4th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $75.27 million for the quarter, compared to analyst estimates of $70.57 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. As a group, research analysts expect that Tactile Systems Technology will post 1.11 EPS for the current fiscal year.
Insider Activity
In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 4,631 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $24.49, for a total transaction of $113,413.19. Following the sale, the chief financial officer directly owned 130,188 shares of the company’s stock, valued at $3,188,304.12. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Tactile Systems Technology
Several institutional investors and hedge funds have recently modified their holdings of TCMD. Goldman Sachs Group Inc. grew its stake in Tactile Systems Technology by 2.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company’s stock worth $2,471,000 after acquiring an additional 3,898 shares during the period. Rhumbline Advisers lifted its stake in shares of Tactile Systems Technology by 4.0% during the 2nd quarter. Rhumbline Advisers now owns 37,780 shares of the company’s stock worth $383,000 after purchasing an additional 1,441 shares during the period. American Century Companies Inc. lifted its stake in shares of Tactile Systems Technology by 11.2% during the 2nd quarter. American Century Companies Inc. now owns 53,264 shares of the company’s stock worth $540,000 after purchasing an additional 5,364 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Tactile Systems Technology by 3.5% during the second quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock worth $247,000 after purchasing an additional 835 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Tactile Systems Technology during the second quarter worth $1,464,000. Hedge funds and other 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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