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

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have received an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $37.40.

TCMD has been the subject of a number of recent research reports. Raymond James Financial set a $35.00 price objective on shares of Tactile Systems Technology in a research report on Monday, January 5th. B. Riley Financial upped their target price on shares of Tactile Systems Technology from $16.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Lake Street Capital set a $40.00 target price on shares of Tactile Systems Technology and gave the stock a “buy” rating in a report on Wednesday, February 18th. Piper Sandler upped their target price 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. Finally, BTIG Research upped their target price on shares of Tactile Systems Technology from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th.

Insider Buying and Selling

In related news, CFO Elaine M. Birkemeyer sold 7,701 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total value of $222,866.94. Following the completion of the transaction, the chief financial officer owned 134,819 shares of the company’s stock, valued at approximately $3,901,661.86. This represents a 5.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Kristie Burns sold 6,246 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total transaction of $180,759.24. Following the completion of the transaction, the vice president directly owned 82,581 shares of the company’s stock, valued at $2,389,894.14. This represents a 7.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 50,137 shares of company stock valued at $1,434,839. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Evolve Private Wealth LLC bought a new position in shares of Tactile Systems Technology during the 1st quarter valued at about $463,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Tactile Systems Technology during the 4th quarter valued at about $91,000. Pacer Advisors Inc. bought a new position in shares of Tactile Systems Technology during the 4th quarter valued at about $1,610,000. Invesco Ltd. boosted its holdings in shares of Tactile Systems Technology by 180.8% during the 4th quarter. Invesco Ltd. now owns 160,333 shares of the company’s stock valued at $4,650,000 after purchasing an additional 103,237 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new position in shares of Tactile Systems Technology during the 4th quarter valued at about $278,000. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Price Performance

Shares of TCMD stock opened at $25.73 on Monday. Tactile Systems Technology has a 1 year low of $8.61 and a 1 year high of $37.77. The firm has a fifty day moving average price of $27.09 and a 200-day moving average price of $25.43. The company has a market cap of $585.36 million, a price-to-earnings ratio of 31.00 and a beta of 0.99.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.26%. The firm had revenue of $103.59 million during the quarter, compared to the consensus estimate of $93.80 million. Equities research analysts expect 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.