Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $38.60.

A number of equities analysts recently weighed in on TCMD shares. Weiss Ratings lowered shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. BTIG Research reissued a “buy” rating and set a $40.00 price target on shares of Tactile Systems Technology in a research report on Thursday, May 21st. Finally, B. Riley Financial raised shares of Tactile Systems Technology from a “neutral” rating to a “buy” rating and increased their price objective for the company from $32.00 to $36.00 in a research report on Thursday, May 7th.

Insider Buying and Selling at Tactile Systems Technology

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 4,631 shares of Tactile Systems Technology stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $24.49, for a total value of $113,413.19. Following the completion of the sale, the chief financial officer owned 130,188 shares in the company, valued at $3,188,304.12. The trade was a 3.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Tactile Systems Technology

Large investors have recently modified their holdings of the business. Quantinno Capital Management LP grew its stake in shares of Tactile Systems Technology by 1.3% during the first quarter. Quantinno Capital Management LP now owns 53,612 shares of the company’s stock worth $1,401,000 after buying an additional 684 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Tactile Systems Technology by 3.5% during the second quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock worth $247,000 after acquiring an additional 835 shares during the last quarter. Strs Ohio lifted its position in shares of Tactile Systems Technology by 4.1% in the 1st quarter. Strs Ohio now owns 22,700 shares of the company’s stock worth $593,000 after purchasing an additional 900 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Tactile Systems Technology in the fourth quarter valued at $32,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Tactile Systems Technology by 5.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,957 shares of the company’s stock valued at $695,000 after purchasing an additional 1,215 shares during the period. Institutional investors and hedge funds own 83.43% of the company’s stock.

Tactile Systems Technology Trading Up 2.9%

Shares of TCMD opened at $30.65 on Friday. The stock’s 50-day moving average price is $25.46 and its two-hundred day moving average price is $27.15. Tactile Systems Technology has a 1 year low of $9.41 and a 1 year high of $37.77. The stock has a market cap of $691.46 million, a P/E ratio of 34.83 and a beta of 0.79.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, May 4th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. The firm had revenue of $75.27 million during the quarter, compared to the consensus estimate of $70.57 million. As a group, equities analysts forecast that Tactile Systems Technology will post 1.11 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.