BTIG Research Issues Positive Forecast for Tactile Systems Technology (NASDAQ:TCMD) Stock Price

Key Points

• BTIG Research raised its price objective on Tactile Systems to $40 (from $38) and kept a "buy" rating—implying roughly a 78.33% upside—while MarketBeat's consensus is a "Moderate Buy" with a $37.80 target.
• TCMD opened at about $22.43 with a market cap near $510M, a trailing PE of 27.02 and a 52‑week range of $8.61–$37.77; the most recent quarter saw an EPS miss of ($0.08) but revenue beat at $75.27M.
• Insiders (including the CFO and a VP) have been selling stock—total insider sales of 50,137 shares worth $1.43M over 90 days—while institutional investors hold roughly 83.43% of the company.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) had its price objective boosted by BTIG Research from $38.00 to $40.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. BTIG Research's target price would suggest a potential upside of 78.33% from the company's previous close.

TCMD has been the subject of a number of other research reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Tactile Systems Technology in a research note on Friday, March 27th. Lake Street Capital set a $40.00 price target on Tactile Systems Technology and gave the stock a "buy" rating in a research note on Wednesday, February 18th. B. Riley Financial raised their price target on Tactile Systems Technology from $16.00 to $32.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 18th. Raymond James Financial set a $35.00 price target on Tactile Systems Technology in a research note on Monday, January 5th. Finally, Piper Sandler raised their price target on Tactile Systems Technology from $35.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $37.80.

Tactile Systems Technology Stock Performance

NASDAQ:TCMD opened at $22.43 on Tuesday. The firm has a market cap of $510.28 million, a PE ratio of 27.02 and a beta of 0.82. Tactile Systems Technology has a fifty-two week low of $8.61 and a fifty-two week high of $37.77. The business has a 50 day moving average price of $26.42 and a 200-day moving average price of $26.04.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). The company had revenue of $75.27 million for the quarter, compared to analysts' expectations of $70.57 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.26%. Research analysts predict that Tactile Systems Technology will post 1.14 EPS for the current year.

Insiders Place Their Bets

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 7,701 shares of the stock in a transaction on Tuesday, February 24th. The stock was 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 in the company, valued at approximately $3,901,661.86. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kristie Burns sold 6,246 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total value of $180,759.24. Following the completion of the transaction, the vice president owned 82,581 shares of the company's stock, valued at approximately $2,389,894.14. This trade represents a 7.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 50,137 shares of company stock worth $1,434,839. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tactile Systems Technology

A number of institutional investors have recently added to or reduced their stakes in TCMD. Prudential Financial Inc. increased its holdings in shares of Tactile Systems Technology by 3.5% during the second quarter. Prudential Financial Inc. now owns 24,360 shares of the company's stock valued at $247,000 after acquiring an additional 835 shares in the last quarter. Strs Ohio increased its holdings in shares of Tactile Systems Technology by 4.1% during the first quarter. Strs Ohio now owns 22,700 shares of the company's stock valued at $593,000 after acquiring an additional 900 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Tactile Systems Technology during the fourth quarter valued at $32,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Tactile Systems Technology by 5.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,957 shares of the company's stock valued at $695,000 after acquiring an additional 1,215 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Tactile Systems Technology during the fourth quarter valued at $36,000. Institutional investors own 83.43% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.