Brokerages Set Tactile Systems Technology, Inc. (NASDAQ:TCMD) Price Target at $38.60

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $38.60.

A number of brokerages have commented on TCMD. BTIG Research reissued a “buy” rating and issued a $40.00 price objective on shares of Tactile Systems Technology in a research note on Thursday, May 21st. B. Riley Financial raised Tactile Systems Technology from a “neutral” rating to a “buy” rating and upped their target price for the stock from $32.00 to $36.00 in a research report on Thursday, May 7th. Finally, Weiss Ratings cut Tactile Systems Technology from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th.

Tactile Systems Technology Price Performance

TCMD stock opened at $27.48 on Wednesday. The stock has a market capitalization of $619.95 million, a PE ratio of 31.23 and a beta of 0.79. The company’s 50-day moving average is $27.25 and its 200-day moving average is $27.20. Tactile Systems Technology has a 1 year low of $9.60 and a 1 year high of $37.77.

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 analyst estimates of $70.57 million. On average, analysts anticipate that Tactile Systems Technology will post 1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 4,631 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $24.49, for a total transaction of $113,413.19. Following the transaction, the chief financial officer owned 130,188 shares in the company, valued at approximately $3,188,304.12. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Tactile Systems Technology

Several hedge funds and other institutional investors have recently made changes to their positions in TCMD. 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 acquiring an additional 1,993 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Tactile Systems Technology during the 4th quarter valued at about $32,000. Quarry LP boosted its stake in Tactile Systems Technology by 302.6% during the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after purchasing an additional 1,743 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Tactile Systems Technology during the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC bought a new stake in Tactile Systems Technology during the 4th quarter worth approximately $37,000. 83.43% of the stock is owned by institutional investors.

Tactile Systems Technology Company Profile

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.