Tactile Systems Technology, Inc. (NASDAQ:TCMD) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $38.40.

Several research firms recently weighed in on TCMD. BTIG Research cut their price target on shares of Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 26th. Finally, Weiss Ratings cut shares of Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, September 28th.

Insiders Place Their Bets

In other Tactile Systems Technology news, CEO Sheri Dodd sold 10,978 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the transaction, the chief executive officer owned 232,907 shares in the company, valued at approximately $6,856,782.08. This represents a 4.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Tactile Systems Technology

Several hedge funds and other institutional investors have recently modified their holdings of TCMD. BlackRock Inc. purchased a new stake in Tactile Systems Technology during the second quarter valued at approximately $56,733,000. First Light Asset Management LLC bought a new stake in Tactile Systems Technology during the second quarter valued at about $13,775,000. Renaissance Technologies LLC boosted its stake in Tactile Systems Technology by 32.3% in the 1st quarter. Renaissance Technologies LLC now owns 510,897 shares of the company’s stock worth $13,350,000 after purchasing an additional 124,597 shares during the period. Jupiter Topco LLC purchased a new position in Tactile Systems Technology during the second quarter valued at $11,831,000. Finally, Next Century Growth Investors LLC purchased a new position in shares of Tactile Systems Technology during the fourth quarter valued at about $11,309,000. 83.43% of the stock is owned by institutional investors.

Tactile Systems Technology Price Performance

Shares of TCMD stock opened at $22.44 on Monday. The business has a 50-day moving average of $23.60 and a 200 day moving average of $25.33. Tactile Systems Technology has a 1-year low of $14.00 and a 1-year high of $37.77. The stock has a market capitalization of $508.31 million, a PE ratio of 20.78 and a beta of 0.82.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.20. The business had revenue of $85.70 million during the quarter, compared to analysts’ expectations of $85.52 million. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. Analysts anticipate that Tactile Systems Technology will post 1.10 EPS for the current year.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, doing business as Tactile Medical, is a medical technology company focused on developing, manufacturing and distributing devices for people with chronic swelling and respiratory conditions. Its products are intended for use in the home and are commonly prescribed by health care professionals as part of ongoing disease-management programs.

The company’s core products include the Flexitouch pneumatic compression system, designed to support the treatment of lymphedema and related conditions, and the Entre system, which provides pneumatic compression therapy for the upper and lower extremities.