Tactile Systems Technology (NASDAQ:TCMD) Upgraded to “Strong-Buy” at Zacks Research

Tactile Systems Technology (NASDAQ:TCMD) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other analysts have also weighed in on TCMD. William Blair raised Tactile Systems Technology to a “strong-buy” rating in a research note on Tuesday, August 5th. Wall Street Zen raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Tactile Systems Technology in a research report on Wednesday, October 8th. Piper Sandler reissued a “neutral” rating and issued a $20.00 price target (up previously from $14.00) on shares of Tactile Systems Technology in a report on Tuesday. Finally, B. Riley restated a “neutral” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Tactile Systems Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

Tactile Systems Technology Stock Performance

NASDAQ TCMD opened at $23.87 on Wednesday. The company has a 50-day simple moving average of $14.80 and a two-hundred day simple moving average of $12.31. Tactile Systems Technology has a 12-month low of $8.61 and a 12-month high of $24.59. The firm has a market cap of $532.11 million, a price-to-earnings ratio of 38.50 and a beta of 1.06. The company has a quick ratio of 3.36, a current ratio of 3.79 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, November 3rd. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.20. The company had revenue of $85.76 million during the quarter, compared to analyst estimates of $79.31 million. Tactile Systems Technology had a return on equity of 7.72% and a net margin of 5.06%. Tactile Systems Technology has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Tactile Systems Technology will post 0.7 EPS for the current year.

Institutional Investors Weigh In On Tactile Systems Technology

Several institutional investors and hedge funds have recently modified their holdings of TCMD. Oxford Asset Management LLP purchased a new position in shares of Tactile Systems Technology during the second quarter valued at about $124,000. Pinnacle Wealth Management Advisory Group LLC bought a new stake in Tactile Systems Technology during the 2nd quarter valued at approximately $134,000. EP Wealth Advisors LLC purchased a new position in shares of Tactile Systems Technology during the 1st quarter worth approximately $138,000. Strs Ohio bought a new position in shares of Tactile Systems Technology in the 3rd quarter worth approximately $147,000. Finally, State of Wyoming lifted its stake in shares of Tactile Systems Technology by 185.0% in the 3rd quarter. State of Wyoming now owns 10,656 shares of the company’s stock valued at $147,000 after purchasing an additional 6,917 shares during the period. 83.43% of the stock is owned by hedge funds and other institutional investors.

About Tactile Systems Technology

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.