Tactile Systems Technology (NASDAQ:TCMD) Announces Earnings Results

Tactile Systems Technology (NASDAQ:TCMD) released its earnings results on Monday. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01), FiscalAI reports. Tactile Systems Technology had a return on equity of 9.26% and a net margin of 5.79%.The business had revenue of $75.27 million for the quarter, compared to analyst estimates of $70.57 million.

Tactile Systems Technology Trading Down 2.0%

Shares of TCMD stock traded down $0.46 on Monday, hitting $22.43. The stock had a trading volume of 724,421 shares, compared to its average volume of 326,981. Tactile Systems Technology has a twelve month low of $8.61 and a twelve month high of $37.77. The firm has a market cap of $510.28 million, a P/E ratio of 27.02 and a beta of 0.82. The company has a fifty day moving average price of $26.42 and a two-hundred day moving average price of $26.04.

Insider Activity

In other news, CEO Sheri Louise Dodd sold 15,240 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $28.30, for a total value of $431,292.00. Following the completion of the transaction, the chief executive officer owned 254,878 shares of the company’s stock, valued at $7,213,047.40. The trade was a 5.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elaine M. Birkemeyer sold 7,701 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total transaction of $222,866.94. Following the completion of the transaction, the chief financial officer directly owned 134,819 shares of the company’s stock, 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 sold 50,137 shares of company stock valued at $1,434,839 in the last quarter. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Tactile Systems Technology

Several institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in Tactile Systems Technology in the 4th quarter worth $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Tactile Systems Technology in the 4th quarter worth $36,000. Global Retirement Partners LLC acquired a new position in Tactile Systems Technology in the 4th quarter worth $37,000. Russell Investments Group Ltd. boosted its stake in Tactile Systems Technology by 1,594.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after purchasing an additional 1,993 shares during the period. Finally, Quarry LP boosted its stake in Tactile Systems Technology by 302.6% in the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after purchasing an additional 1,743 shares during the period. Institutional investors and hedge funds own 83.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TCMD. Lake Street Capital set a $40.00 target price on shares of Tactile Systems Technology and gave the stock a “buy” rating in a report on Wednesday, February 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Friday, March 27th. Zacks Research lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Raymond James Financial set a $35.00 target price on shares of Tactile Systems Technology in a report on Monday, January 5th. Finally, BTIG Research boosted their price target on shares of Tactile Systems Technology from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.40.

Tactile Systems Technology Company Profile

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.