Tactile Systems Technology, Inc. (NASDAQ:TCMD) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Tactile Systems Technology, with four buy ratings and two holds. The average 12-month price target is $37.60, although BTIG Research recently lowered its target to $35 from $39.
• The company’s latest quarterly results exceeded expectations, reporting $0.34 in EPS versus a $0.14 consensus estimate and revenue of $85.70 million, slightly above forecasts.
• TCMD shares opened at $24.31, up 1.7%, while institutional investors own a substantial 83.43% stake. CEO Sheri Dodd sold shares to cover tax obligations tied to vested equity awards.

Tactile Systems Technology, Inc. (NASDAQ:TCMD - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $37.60.

A number of equities research analysts have commented on the company. Wall Street Zen lowered Tactile Systems Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 17th. BTIG Research cut their price objective on Tactile Systems Technology from $39.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, October 12th. Finally, Weiss Ratings raised Tactile Systems Technology from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, October 13th.

Tactile Systems Technology Trading Up 1.7%

Shares of TCMD stock opened at $24.31 on Friday. The business's 50-day moving average price is $22.74 and its 200-day moving average price is $25.98. The firm has a market capitalization of $550.67 million, a price-to-earnings ratio of 22.51 and a beta of 0.82. Tactile Systems Technology has a 12 month low of $14.84 and a 12 month high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported $0.34 EPS for the quarter, topping 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 business had revenue of $85.70 million for the quarter, compared to the consensus estimate of $85.52 million. On average, sell-side analysts predict that Tactile Systems Technology will post 1.10 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tactile Systems Technology news, CEO Sheri Dodd sold 10,978 shares of the firm's 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 transaction, the chief executive officer owned 232,907 shares in the company, valued at approximately $6,856,782.08. This trade represents a 4.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Investors Weigh In On Tactile Systems Technology

A number of institutional investors have recently modified their holdings of the company. Quantinno Capital Management LP boosted its holdings in shares of Tactile Systems Technology by 1.3% during the 1st quarter. Quantinno Capital Management LP now owns 53,612 shares of the company's stock worth $1,401,000 after buying an additional 684 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Tactile Systems Technology by 24.3% in the 2nd quarter. IFP Advisors Inc now owns 3,606 shares of the company's stock valued at $107,000 after acquiring an additional 704 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Tactile Systems Technology by 0.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 327,967 shares of the company's stock valued at $7,310,000 after acquiring an additional 850 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Tactile Systems Technology by 36.4% during the 2nd quarter. Versant Capital Management Inc now owns 3,285 shares of the company's stock valued at $98,000 after acquiring an additional 876 shares during the period. Finally, Strs Ohio lifted its position in shares of Tactile Systems Technology by 4.1% during the 1st quarter. Strs Ohio now owns 22,700 shares of the company's stock valued at $593,000 after acquiring an additional 900 shares during the period. 83.43% of the stock is owned by institutional investors.

About Tactile Systems Technology

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.

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