Tactile Systems Technology (NASDAQ:TCMD) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• Tactile Systems Technology beat quarterly EPS estimates, reporting $0.31 per share versus the $0.28 consensus. Revenue was $91.86 million, slightly below the $91.99 million estimate.
• The stock traded down to $22.87, while analysts maintained a generally positive outlook: four rate it Buy and two Hold, with a consensus price target of $37.60.
• CEO Sheri Dodd sold 10,978 shares worth approximately $323,192 to cover tax withholding tied to vested equity awards, reducing her ownership by 4.5%.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) issued its earnings results on Monday. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03, FiscalAI reports. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. The firm had revenue of $91.86 million for the quarter, compared to the consensus estimate of $91.99 million.

Tactile Systems Technology Price Performance

NASDAQ TCMD traded down $0.17 during trading hours on Monday, reaching $22.87. The company's stock had a trading volume of 233,142 shares, compared to its average volume of 301,096. Tactile Systems Technology has a 1-year low of $15.32 and a 1-year high of $37.77. The firm has a market capitalization of $518.05 million, a price-to-earnings ratio of 21.18 and a beta of 0.82. The company's 50-day moving average is $22.74 and its two-hundred day moving average is $25.94.

Insider Activity

In other news, CEO Sheri Dodd sold 10,978 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.44, for a total value of $323,192.32. Following the completion of the sale, the chief executive officer directly owned 232,907 shares in the company, valued at $6,856,782.08. This represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings upgraded Tactile Systems Technology from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, October 13th. BTIG Research lowered their price target on Tactile Systems Technology from $39.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, October 12th. Finally, Wall Street Zen upgraded Tactile Systems Technology from a "buy" rating to a "strong-buy" rating in a report on Saturday. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $37.60.

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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