Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives $38.40 Consensus Price Target from Brokerages

Tactile Systems Technology, Inc. (NASDAQ:TCMD) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $38.40.

A number of equities research analysts recently weighed in on TCMD shares. Wall Street Zen downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. BTIG Research cut their price target on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Finally, Weiss Ratings downgraded Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 31st.

Insider Activity

In related news, CEO Sheri Dodd sold 10,978 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $29.44, for a total value of $323,192.32. Following the completion of the transaction, the chief executive officer directly owned 232,907 shares in the company, valued at approximately $6,856,782.08. This represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Tactile Systems Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCMD. First Light Asset Management LLC acquired a new stake in shares of Tactile Systems Technology during the second quarter worth approximately $13,775,000. Engineers Gate Manager LP acquired a new stake in shares of Tactile Systems Technology in the second quarter valued at $400,000. IFP Advisors Inc raised its holdings in shares of Tactile Systems Technology by 24.3% in the second quarter. IFP Advisors Inc now owns 3,606 shares of the company’s stock valued at $107,000 after buying an additional 704 shares during the last quarter. Amundi raised its holdings in shares of Tactile Systems Technology by 9.2% in the second quarter. Amundi now owns 19,761 shares of the company’s stock valued at $588,000 after buying an additional 1,659 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in Tactile Systems Technology by 671.9% during the 2nd quarter. California State Teachers Retirement System now owns 9,232 shares of the company’s stock worth $275,000 after buying an additional 8,036 shares in the last quarter. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Price Performance

Shares of Tactile Systems Technology stock opened at $22.57 on Thursday. Tactile Systems Technology has a fifty-two week low of $13.37 and a fifty-two week high of $37.77. The firm has a fifty day moving average price of $25.97 and a two-hundred day moving average price of $26.12. The company has a market cap of $511.21 million, a PE ratio of 20.90 and a beta of 0.80.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.20. The company had revenue of $85.70 million for the quarter, compared to the consensus estimate of $85.52 million. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. Analysts expect that Tactile Systems Technology will post 1.1 earnings per share for the current fiscal year.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, doing business as Tactile Medical, develops and provides medical devices designed to help manage chronic conditions involving the circulatory and lymphatic systems. The company focuses primarily on home-based therapy for lymphedema, chronic venous insufficiency and related conditions.

Its portfolio includes pneumatic compression systems such as the Flexitouch Plus system for lymphedema and the Entre Plus system for treating lymphedema and chronic venous insufficiency.