Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Tactile Systems Technology has a consensus analyst rating of “Moderate Buy” from seven research firms, with an average 12-month price target of $38.60.
• Recent analyst actions were mostly positive: B. Riley upgraded the stock to buy and raised its target to $36, while BTIG reiterated a buy with a $40 target; Weiss Ratings was a minor exception, downgrading it slightly.
• The company reported its latest quarterly earnings with revenue above expectations but EPS slightly below forecasts; shares recently traded at $28.43, and institutional investors own 83.43% of the stock.

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $38.60.

Several equities analysts have issued reports on the stock. B. Riley Financial raised shares of Tactile Systems Technology from a "neutral" rating to a "buy" rating and increased their price objective for the company from $32.00 to $36.00 in a report on Thursday, May 7th. BTIG Research reissued a "buy" rating and set a $40.00 target price on shares of Tactile Systems Technology in a research note on Thursday, May 21st. Finally, Weiss Ratings downgraded shares of Tactile Systems Technology from a "hold (c+)" rating to a "hold (c-)" rating in a research report on Wednesday, May 6th.

Insider Transactions at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 4,631 shares of Tactile Systems Technology stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $24.49, for a total value of $113,413.19. Following the sale, the chief financial officer directly owned 130,188 shares in the company, valued at approximately $3,188,304.12. The trade was a 3.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Tactile Systems Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Tactile Systems Technology in the fourth quarter worth approximately $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Tactile Systems Technology in the 4th quarter valued at $36,000. Global Retirement Partners LLC acquired a new position in Tactile Systems Technology in the 4th quarter valued at $37,000. Russell Investments Group Ltd. lifted its holdings in Tactile Systems Technology by 1,594.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company's stock valued at $29,000 after purchasing an additional 1,993 shares in the last quarter. Finally, Quarry LP lifted its holdings in Tactile Systems Technology by 302.6% in the 3rd quarter. Quarry LP now owns 2,319 shares of the company's stock valued at $32,000 after purchasing an additional 1,743 shares in the last quarter. Hedge funds and other institutional investors own 83.43% of the company's stock.

Tactile Systems Technology Price Performance

Shares of TCMD stock opened at $28.43 on Wednesday. The company has a market cap of $641.38 million, a price-to-earnings ratio of 32.31 and a beta of 0.79. The stock has a 50 day simple moving average of $26.98 and a 200-day simple moving average of $27.20. Tactile Systems Technology has a 1-year low of $9.60 and a 1-year high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). The company had revenue of $75.27 million during the quarter, compared to analyst estimates of $70.57 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. Analysts anticipate that Tactile Systems Technology will post 1.11 earnings per share for the current fiscal year.

About Tactile Systems Technology

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.

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