William Blair Research Analysts Lower Earnings Estimates for Tactile Systems Technology, Inc. (NASDAQ:TCMD)

Tactile Systems Technology, Inc. (NASDAQ:TCMD) – William Blair decreased their Q2 2024 earnings per share estimates for Tactile Systems Technology in a report released on Tuesday, May 7th. William Blair analyst M. Kaczor now anticipates that the company will post earnings per share of $0.06 for the quarter, down from their prior estimate of $0.07. The consensus estimate for Tactile Systems Technology’s current full-year earnings is $0.56 per share. William Blair also issued estimates for Tactile Systems Technology’s Q3 2024 earnings at $0.19 EPS, Q4 2024 earnings at $0.36 EPS, Q2 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.22 EPS and Q4 2025 earnings at $0.40 EPS.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.25. The firm had revenue of $77.65 million during the quarter, compared to analysts’ expectations of $78.85 million. Tactile Systems Technology had a return on equity of 17.08% and a net margin of 10.39%. During the same quarter in the prior year, the business earned $0.29 EPS.

Separately, StockNews.com upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday.

Tactile Systems Technology Price Performance

Shares of TCMD stock opened at $14.05 on Wednesday. The firm has a fifty day simple moving average of $15.19 and a 200-day simple moving average of $14.19. The company has a market capitalization of $333.81 million, a PE ratio of 11.71 and a beta of 1.23. Tactile Systems Technology has a twelve month low of $9.69 and a twelve month high of $26.11. The company has a current ratio of 3.54, a quick ratio of 2.99 and a debt-to-equity ratio of 0.14.

Insiders Place Their Bets

In other Tactile Systems Technology news, CEO Daniel L. Reuvers sold 6,239 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.81, for a total transaction of $98,638.59. Following the transaction, the chief executive officer now directly owns 244,112 shares in the company, valued at approximately $3,859,410.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tactile Systems Technology news, CEO Daniel L. Reuvers sold 6,239 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $15.81, for a total transaction of $98,638.59. Following the transaction, the chief executive officer now owns 244,112 shares of the company’s stock, valued at approximately $3,859,410.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Kristie Burns sold 2,249 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $14.80, for a total value of $33,285.20. Following the completion of the sale, the vice president now owns 53,765 shares of the company’s stock, valued at $795,722. The disclosure for this sale can be found here. Insiders have sold 18,335 shares of company stock worth $280,532 in the last three months. 1.40% of the stock is owned by insiders.

Institutional Trading of Tactile Systems Technology

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its position in Tactile Systems Technology by 62.1% in the third quarter. FMR LLC now owns 579,392 shares of the company’s stock worth $8,140,000 after buying an additional 222,012 shares during the period. Walleye Capital LLC acquired a new position in Tactile Systems Technology during the 3rd quarter valued at about $1,860,000. Millrace Asset Group Inc. grew its position in Tactile Systems Technology by 103.8% in the 3rd quarter. Millrace Asset Group Inc. now owns 77,253 shares of the company’s stock worth $1,085,000 after purchasing an additional 39,344 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Tactile Systems Technology by 0.7% during the third quarter. Vanguard Group Inc. now owns 1,370,403 shares of the company’s stock valued at $19,254,000 after buying an additional 9,863 shares during the last quarter. Finally, Swiss National Bank acquired a new position in shares of Tactile Systems Technology during the third quarter worth approximately $718,000. 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.