Tactile Systems Technology, Inc. (NASDAQ:TCMD) Given Average Recommendation of “Moderate Buy” by Brokerages

Tactile Systems Technology, Inc. (NASDAQ:TCMD) has received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $38.60.

Several brokerages recently commented on TCMD. Weiss Ratings lowered shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Piper Sandler boosted their price target on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $32.00 to $36.00 in a report on Thursday, May 7th. BTIG Research reissued a “buy” rating and issued a $40.00 price target on shares of Tactile Systems Technology in a report on Thursday, May 21st. Finally, Lake Street Capital set a $40.00 price target on shares of Tactile Systems Technology and gave the stock a “buy” rating in a report on Wednesday, February 18th.

Insider Buying and Selling at Tactile Systems Technology

In other news, CFO Elaine M. Birkemeyer sold 4,631 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $24.49, for a total value of $113,413.19. Following the transaction, the chief financial officer owned 130,188 shares in the company, valued at $3,188,304.12. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 large investors have recently modified their holdings of TCMD. Russell Investments Group Ltd. grew its holdings in shares of Tactile Systems Technology by 1,594.4% during the third 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. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Tactile Systems Technology during the fourth quarter worth $32,000. Quarry LP grew its holdings in shares of 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 buying an additional 1,743 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Tactile Systems Technology during the fourth quarter worth $36,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Tactile Systems Technology during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Price Performance

NASDAQ:TCMD opened at $25.40 on Tuesday. The firm has a market cap of $573.02 million, a price-to-earnings ratio of 28.86 and a beta of 0.83. The company has a 50 day moving average price of $24.67 and a 200-day moving average price of $26.99. Tactile Systems Technology has a 1-year low of $9.41 and a 1-year high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, May 4th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The firm had revenue of $75.27 million for the quarter, compared to analysts’ expectations of $70.57 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. On average, sell-side analysts anticipate that Tactile Systems Technology will post 1.11 earnings per share for the current fiscal 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.