Tactile Systems Technology, Inc. (NASDAQ:TCMD) Stock Has Average Target Price of $37.60

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $36.80.

TCMD has been the topic of a number of research analyst reports. BTIG Research lowered their price target on Tactile Systems Technology from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday. Weiss Ratings cut shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Wall Street Zen raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st.

Tactile Systems Technology Trading Down 3.0%

Shares of NASDAQ TCMD opened at $26.37 on Friday. The stock has a 50 day simple moving average of $22.87 and a 200-day simple moving average of $25.84. The company has a market cap of $589.11 million, a PE ratio of 26.39 and a beta of 0.95. Tactile Systems Technology has a 12-month low of $20.53 and a 12-month high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, November 2nd. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03. The firm had revenue of $91.86 million for the quarter, compared to analysts’ expectations of $91.99 million. Tactile Systems Technology had a return on equity of 10.73% and a net margin of 6.68%. Sell-side analysts forecast that Tactile Systems Technology will post 1.11 earnings per share for the current fiscal year.

Insider Activity

In other Tactile Systems Technology news, Director Laura G. King sold 4,800 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $25.00, for a total transaction of $120,000.00. Following the sale, the director directly owned 20,769 shares in the company, valued at approximately $519,225. The trade was a 18.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sheri Dodd sold 10,978 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $29.44, for a total transaction of $323,192.32. Following the completion of the sale, the chief executive officer directly owned 232,907 shares of the company’s stock, valued at approximately $6,856,782.08. This represents a 4.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tactile Systems Technology

A number of institutional investors have recently added to or reduced their stakes in TCMD. USA Financial Formulas bought a new position in Tactile Systems Technology during the first quarter valued at approximately $71,000. Summit Securities Group LLC bought a new position in shares of Tactile Systems Technology during the 1st quarter valued at $75,000. Versant Capital Management Inc lifted its stake in shares of Tactile Systems Technology by 36.4% in the 2nd quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock valued at $98,000 after purchasing an additional 876 shares during the last quarter. Quantbot Technologies LP acquired a new position in Tactile Systems Technology during the second quarter worth $101,000. Finally, IFP Advisors Inc raised its holdings in Tactile Systems Technology by 24.3% during 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 in the last quarter. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Tactile Systems Technology News Summary

Here are the key news stories impacting Tactile Systems Technology this week:

• Positive Sentiment: TCMD moved above its 200-day moving average, which Zacks described as a potentially bullish long-term technical signal. Article: Tactile Systems Technology Just Reclaimed the 200-Day Moving Average
• Positive Sentiment: Analyst price targets imply potential upside, and Zacks noted positive earnings-estimate revisions; it cautioned that price targets are not always reliable predictors. Article: Wall Street Analysts Think TCMD Could Surge
• Neutral Sentiment: Director Laura G. King sold 4,800 shares for $120,000, reducing her direct stake by 18.77%. The sale was made under a pre-arranged Rule 10b5-1 plan, which makes it less clearly a reaction to current company prospects. SEC Form 4
• Negative Sentiment: BTIG issued a pessimistic forecast, and a separate report linked TCMD shares gapping lower to an analyst downgrade. These reports point to weaker analyst sentiment as the main near-term headwind; the provided details do not specify the revised rating or price target. Article: BTIG Issues Pessimistic Forecast Article: TCMD Shares Gap Down Following Analyst Downgrade

Tactile Systems Technology Company Profile

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.