Tactile Systems Technology, Inc. (NASDAQ:TCMD - Free Report) - Stock analysts at William Blair reduced their Q2 2024 earnings per share (EPS) estimates for shares of Tactile Systems Technology in a research report issued on Tuesday, May 7th. William Blair analyst M. Kaczor now expects that the company will earn $0.06 per share for the quarter, down from their prior forecast of $0.07. The consensus estimate for Tactile Systems Technology's current full-year earnings is $0.56 per share. William Blair also issued estimates for Tactile Systems Technology's Q3 2024 earnings at $0.19 EPS, Q4 2024 earnings at $0.36 EPS, Q2 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.22 EPS and Q4 2025 earnings at $0.40 EPS.
Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.25. Tactile Systems Technology had a return on equity of 17.08% and a net margin of 10.39%. The business had revenue of $77.65 million for the quarter, compared to analyst estimates of $78.85 million. During the same period in the previous year, the company posted $0.29 EPS.
Separately, StockNews.com upgraded Tactile Systems Technology from a "buy" rating to a "strong-buy" rating in a report on Tuesday.
Check Out Our Latest Stock Report on Tactile Systems Technology
Tactile Systems Technology Stock Down 4.1 %
Tactile Systems Technology stock traded down $0.59 during trading on Wednesday, reaching $13.85. 370,018 shares of the company's stock were exchanged, compared to its average volume of 277,495. The company's 50-day moving average is $15.25 and its two-hundred day moving average is $14.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.99 and a current ratio of 3.54. Tactile Systems Technology has a 52-week low of $9.69 and a 52-week high of $26.11. The firm has a market cap of $329.08 million, a price-to-earnings ratio of 12.03 and a beta of 1.23.
Insiders Place Their Bets
In other news, CEO Daniel L. Reuvers sold 6,239 shares of the firm's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.81, for a total transaction of $98,638.59. Following the completion of the sale, the chief executive officer now directly owns 244,112 shares in the company, valued at $3,859,410.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tactile Systems Technology news, CEO Daniel L. Reuvers sold 6,239 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $15.81, for a total transaction of $98,638.59. Following the completion of the sale, the chief executive officer now owns 244,112 shares in the company, valued at approximately $3,859,410.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Kristie Burns sold 2,015 shares of the company's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.90, for a total value of $32,038.50. Following the completion of the transaction, the vice president now directly owns 63,512 shares in the company, valued at $1,009,840.80. The disclosure for this sale can be found here. Insiders have sold 17,520 shares of company stock worth $268,820 in the last quarter. 1.40% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in TCMD. First Light Asset Management LLC grew its stake in Tactile Systems Technology by 38.1% in the fourth quarter. First Light Asset Management LLC now owns 2,859,954 shares of the company's stock worth $40,897,000 after purchasing an additional 788,535 shares in the last quarter. Cadian Capital Management LP bought a new stake in shares of Tactile Systems Technology in the 4th quarter valued at approximately $24,954,000. Vanguard Group Inc. raised its position in shares of Tactile Systems Technology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,370,403 shares of the company's stock valued at $19,254,000 after acquiring an additional 9,863 shares in the last quarter. FMR LLC lifted its stake in Tactile Systems Technology by 62.1% during the third quarter. FMR LLC now owns 579,392 shares of the company's stock worth $8,140,000 after purchasing an additional 222,012 shares during the last quarter. Finally, Wasatch Advisors LP acquired a new stake in shares of Tactile Systems Technology during the first quarter worth $8,687,000. 83.43% of the stock is owned by institutional investors and hedge funds.
About Tactile Systems Technology
(
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Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.
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