Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives $28.75 Consensus Target Price from Analysts

Tactile Systems Technology, Inc. (NASDAQ:TCMD) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $28.75.

A number of research firms recently weighed in on TCMD. Weiss Ratings reissued a “hold (c+)” rating on shares of Tactile Systems Technology in a research report on Monday, December 29th. Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Lake Street Capital upped their target price on Tactile Systems Technology from $23.50 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Piper Sandler set a $35.00 target price on Tactile Systems Technology in a research report on Monday, January 5th. Finally, Raymond James Financial set a $35.00 price target on shares of Tactile Systems Technology in a report on Monday, January 5th.

Insiders Place Their Bets

In related news, VP Kristie Burns sold 5,139 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $28.85, for a total value of $148,260.15. Following the sale, the vice president owned 72,401 shares of the company’s stock, valued at $2,088,768.85. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tactile Systems Technology

Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its holdings in shares of Tactile Systems Technology by 1,594.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after buying an additional 1,993 shares in the last quarter. Quarry LP raised its stake in Tactile Systems Technology by 302.6% during the third quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after acquiring an additional 1,743 shares in the last quarter. Aquatic Capital Management LLC bought a new position in shares of Tactile Systems Technology during the third quarter valued at $47,000. BNP Paribas Financial Markets boosted its stake in shares of Tactile Systems Technology by 95.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,526 shares of the company’s stock valued at $63,000 after purchasing an additional 2,214 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth about $86,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Trading Up 1.0%

TCMD opened at $28.86 on Wednesday. Tactile Systems Technology has a 1-year low of $8.61 and a 1-year high of $31.38. The stock has a market capitalization of $644.73 million, a price-to-earnings ratio of 37.48 and a beta of 0.96. The business has a 50 day moving average of $28.75 and a 200-day moving average of $19.75.

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

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.