Tactile Systems Technology, Inc. (NASDAQ:TCMD) Given Average Recommendation of “Moderate Buy” by Brokerages

Tactile Systems Technology, Inc. (NASDAQ:TCMD) has earned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $38.60.

Several research firms recently issued reports on TCMD. Weiss Ratings lowered shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Piper Sandler boosted their target price on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. B. Riley Financial upgraded shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and boosted their target price for the company from $32.00 to $36.00 in a report on Thursday, May 7th. Lake Street Capital set a $40.00 target price on shares of Tactile Systems Technology and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, BTIG Research restated a “buy” rating and issued a $40.00 target price on shares of Tactile Systems Technology in a report on Thursday, May 21st.

Tactile Systems Technology Price Performance

Shares of Tactile Systems Technology stock opened at $25.25 on Tuesday. Tactile Systems Technology has a fifty-two week low of $9.41 and a fifty-two week high of $37.77. The firm has a market capitalization of $569.64 million, a P/E ratio of 28.69 and a beta of 0.83. The company’s 50 day moving average price is $24.64 and its two-hundred day moving average price is $27.03.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly 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 business had revenue of $75.27 million for the quarter, compared to analyst estimates of $70.57 million. Tactile Systems Technology had a return on equity of 9.70% and a net margin of 5.91%. On average, analysts expect that Tactile Systems Technology will post 1.11 earnings per share for the current year.

Insiders Place Their Bets

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 4,631 shares of Tactile Systems Technology stock in a transaction on Monday, May 11th. The shares were sold at an average price of $24.49, for a total value of $113,413.19. Following the completion of the sale, the chief financial officer directly owned 130,188 shares of the company’s stock, valued at approximately $3,188,304.12. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Tactile Systems Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. LSV Asset Management increased its stake in Tactile Systems Technology by 304.8% in the third quarter. LSV Asset Management now owns 146,945 shares of the company’s stock valued at $2,034,000 after purchasing an additional 110,645 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in Tactile Systems Technology in the fourth quarter valued at $1,587,000. Range Financial Group LLC bought a new stake in Tactile Systems Technology in the fourth quarter valued at $1,291,000. Vanguard Group Inc. increased its stake in Tactile Systems Technology by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company’s stock valued at $47,884,000 after purchasing an additional 76,198 shares in the last quarter. Finally, RFG Advisory LLC bought a new stake in Tactile Systems Technology in the fourth quarter valued at $1,529,000. 83.43% of the stock is owned by institutional investors.

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.