Tactile Systems Technology (NASDAQ:TCMD) Raised to "Strong-Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Tactile Systems Technology to “strong-buy” from “buy.” The broader analyst consensus is “Moderate Buy,” with four Buy ratings, two Holds, and a $38.40 average price target.
• Tactile Medical reported quarterly EPS of $0.34, exceeding the $0.14 consensus estimate, while revenue of $85.70 million was roughly in line with expectations.
• TCMD opened at $22.73, below its 50-day and 200-day moving averages, while institutional investors own a substantial 83.43% of outstanding shares.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other research firms have also issued reports on TCMD. Weiss Ratings upgraded shares of Tactile Systems Technology from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, September 14th. BTIG Research reduced their price objective on shares of Tactile Systems Technology from $40.00 to $39.00 and set a "buy" rating on the stock in a research report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.40.

Tactile Systems Technology Stock Performance

NASDAQ TCMD opened at $22.73 on Friday. The company has a market cap of $514.83 million, a P/E ratio of 21.05 and a beta of 0.80. The business's 50 day moving average price is $24.72 and its 200-day moving average price is $25.70. Tactile Systems Technology has a fifty-two week low of $13.48 and a fifty-two week high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.20. The company had revenue of $85.70 million during the quarter, compared to the consensus estimate of $85.52 million. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%. As a group, equities analysts predict that Tactile Systems Technology will post 1.1 EPS for the current year.

Insider Activity

In related news, CEO Sheri Dodd sold 10,978 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $29.44, for a total value of $323,192.32. Following the transaction, the chief executive officer owned 232,907 shares of the company's stock, valued at $6,856,782.08. This represents a 4.50% decrease in their ownership of the stock. 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. Insiders own 2.10% of the company's stock.

Institutional Trading of Tactile Systems Technology

Hedge funds have recently added to or reduced their stakes in the business. USA Financial Formulas purchased a new position in Tactile Systems Technology during the 1st quarter valued at about $71,000. Summit Securities Group LLC purchased a new stake in shares of Tactile Systems Technology in the 1st quarter worth approximately $75,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Tactile Systems Technology during the fourth quarter valued at approximately $91,000. Versant Capital Management Inc boosted its stake in shares of Tactile Systems Technology by 36.4% during the second quarter. Versant Capital Management Inc now owns 3,285 shares of the company's stock valued at $98,000 after purchasing an additional 876 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Tactile Systems Technology during the second quarter valued at approximately $101,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

About Tactile Systems Technology

Tactile Systems Technology, Inc, doing business as Tactile Medical, develops and provides medical devices designed to help manage chronic conditions involving the circulatory and lymphatic systems. The company focuses primarily on home-based therapy for lymphedema, chronic venous insufficiency and related conditions.

Its portfolio includes pneumatic compression systems such as the Flexitouch Plus system for lymphedema and the Entre Plus system for treating lymphedema and chronic venous insufficiency.

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