Tactile Systems Technology (NASDAQ:TCMD) Sets New 1-Year High – Time to Buy?

Tactile Systems Technology, Inc. (NASDAQ:TCMD)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $30.97 and last traded at $29.22, with a volume of 153463 shares traded. The stock had previously closed at $27.40.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TCMD. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Piper Sandler set a $35.00 price target on Tactile Systems Technology in a research note on Monday. Lake Street Capital upped their price objective on shares of Tactile Systems Technology from $23.50 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Raymond James Financial set a $35.00 price objective on shares of Tactile Systems Technology in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $28.75.

Tactile Systems Technology Trading Up 9.8%

The business’s 50 day simple moving average is $25.40 and its 200 day simple moving average is $16.97. The company has a market cap of $672.32 million, a P/E ratio of 39.18 and a beta of 0.91.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.16 by $0.20. The business had revenue of $85.76 million during the quarter, compared to the consensus estimate of $79.31 million. Tactile Systems Technology had a net margin of 5.83% and a return on equity of 8.84%. Sell-side analysts anticipate that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Institutional Trading of Tactile Systems Technology

Hedge funds have recently bought and sold shares of the stock. Trexquant Investment LP purchased a new stake in shares of Tactile Systems Technology during the first quarter worth about $232,000. EP Wealth Advisors LLC purchased a new position in Tactile Systems Technology in the first quarter valued at $138,000. Punch & Associates Investment Management Inc. raised its holdings in Tactile Systems Technology by 34.3% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 282,000 shares of the company’s stock worth $3,728,000 after purchasing an additional 72,000 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Tactile Systems Technology during the 1st quarter valued at approximately $534,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Tactile Systems Technology by 2.1% during the first quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company’s stock worth $2,471,000 after purchasing an additional 3,898 shares in the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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.