Tactile Systems Technology (NASDAQ:TCMD) Reaches New 1-Year High – What’s Next?

Tactile Systems Technology, Inc. (NASDAQ:TCMD) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $26.64 and last traded at $26.39, with a volume of 294386 shares changing hands. The stock had previously closed at $26.15.

Analyst Upgrades and Downgrades

TCMD has been the topic of a number of recent research reports. Lake Street Capital upped their target price on shares of Tactile Systems Technology from $23.50 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Zacks Research raised shares of Tactile Systems Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. Piper Sandler restated a “neutral” rating and issued a $20.00 price objective (up from $14.00) on shares of Tactile Systems Technology in a report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Tuesday. Finally, Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.67.

Tactile Systems Technology Stock Performance

The stock’s 50-day moving average is $19.65 and its 200 day moving average is $14.23. The stock has a market capitalization of $623.51 million, a PE ratio of 34.82 and a beta of 0.93.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.20. Tactile Systems Technology had a net margin of 5.83% and a return on equity of 8.84%. The company had revenue of $85.76 million during the quarter, compared to the consensus estimate of $79.31 million. Analysts expect that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Institutional Investors Weigh In On Tactile Systems Technology

Large investors have recently modified their holdings of the company. Mackenzie Financial Corp increased its holdings in shares of Tactile Systems Technology by 21.2% in the 1st quarter. Mackenzie Financial Corp now owns 43,992 shares of the company’s stock valued at $582,000 after acquiring an additional 7,697 shares during the period. Vanguard Group Inc. grew its position in Tactile Systems Technology by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,501,006 shares of the company’s stock worth $19,843,000 after purchasing an additional 17,314 shares during the last quarter. Deutsche Bank AG increased its stake in Tactile Systems Technology by 1.0% in the first quarter. Deutsche Bank AG now owns 623,033 shares of the company’s stock valued at $8,236,000 after purchasing an additional 6,421 shares during the period. Koss Olinger Consulting LLC purchased a new stake in shares of Tactile Systems Technology in the first quarter valued at about $487,000. Finally, Invesco Ltd. raised its holdings in shares of Tactile Systems Technology by 19.8% in the first quarter. Invesco Ltd. now owns 35,637 shares of the company’s stock valued at $471,000 after buying an additional 5,879 shares during the last quarter. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.