Tactile Systems Technology (NASDAQ:TCMD) Stock Gets Price Target Trim from BTIG Research

Key Points

• BTIG Research lowered Tactile Systems Technology’s price target from $39 to $35 while maintaining a “buy” rating, implying approximately 56% upside from the stock’s $22.44 price.
• Analyst sentiment remains generally positive: four analysts rate TCMD a Buy and two rate it a Hold, producing a consensus “Moderate Buy” rating and average price target of $37.60.
• Tactile Medical recently exceeded quarterly earnings expectations, reporting $0.34 in EPS versus the $0.14 consensus estimate and revenue of $85.7 million; institutional investors own 83.43% of the shares.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) had its target price decreased by equities research analysts at BTIG Research from $39.00 to $35.00 in a report issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. BTIG Research's price target would indicate a potential upside of 55.97% from the company's current price.

TCMD has been the topic of a number of other research reports. Weiss Ratings cut Tactile Systems Technology from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, September 28th. Wall Street Zen raised Tactile Systems Technology from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 26th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.60.

Tactile Systems Technology Stock Performance

TCMD stock opened at $22.44 on Monday. Tactile Systems Technology has a 12 month low of $14.00 and a 12 month high of $37.77. The company has a 50-day moving average price of $23.60 and a 200 day moving average price of $25.33. The stock has a market cap of $508.31 million, a PE ratio of 20.78 and a beta of 0.82.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.14 by $0.20. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. The company had revenue of $85.70 million for the quarter, compared to the consensus estimate of $85.52 million. Sell-side analysts forecast that Tactile Systems Technology will post 1.10 EPS for the current year.

Insider Buying and Selling at Tactile Systems Technology

In other news, CEO Sheri Dodd sold 10,978 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the completion of the sale, the chief executive officer owned 232,907 shares of the company's stock, valued at approximately $6,856,782.08. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

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

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.

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