Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) issued its earnings results on Monday. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.20, FiscalAI reports. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. The company had revenue of $85.70 million for the quarter, compared to analyst estimates of $85.52 million.
Tactile Systems Technology Stock Down 1.2%
Shares of TCMD traded down $0.36 on Monday, hitting $29.14. The company’s stock had a trading volume of 565,979 shares, compared to its average volume of 303,232. The firm’s fifty day moving average price is $28.03 and its 200-day moving average price is $27.07. Tactile Systems Technology has a fifty-two week low of $12.01 and a fifty-two week high of $37.77. The firm has a market capitalization of $657.40 million, a price-to-earnings ratio of 33.11 and a beta of 0.81.
Analyst Ratings Changes
A number of brokerages have issued reports on TCMD. BTIG Research restated a “buy” rating and set a $40.00 target price on shares of Tactile Systems Technology in a report on Thursday, May 21st. B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and increased their price target for the company from $32.00 to $36.00 in a research report on Thursday, May 7th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Tactile Systems Technology in a report on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.60.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the stock. Paradigm Capital Management Inc. NY increased its position in shares of Tactile Systems Technology by 5.9% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock worth $16,413,000 after acquiring an additional 89,600 shares in the last quarter. Vanguard Group Inc. increased its holdings in Tactile Systems Technology by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,574,972 shares of the company’s stock worth $21,798,000 after purchasing an additional 44,218 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 valued at $16,486,000 after purchasing an additional 24,001 shares during the period. Federated Hermes Inc. raised its stake 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 valued at $18,717,000 after purchasing an additional 104,648 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Tactile Systems Technology by 0.3% in the fourth quarter. Deutsche Bank AG now owns 578,669 shares of the company’s stock valued at $16,781,000 after purchasing an additional 1,482 shares in the last quarter. 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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