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

Key Points

• Analysts give Tactile Systems a consensus rating of "Moderate Buy" from seven firms (3 hold, 3 buy, 1 strong buy) with an average 12‑month price target of $37.40.
• The company beat expectations last quarter, reporting EPS of $0.46 versus $0.44 expected and revenue of $103.6M versus $93.8M, and analysts forecast roughly $0.70 EPS for the current year.
• Insiders have been net sellers—CEO Sheri Dodd sold 15,240 shares and VP Kristie Burns sold 6,246, with insiders offloading 50,137 shares (~$1.43M) last quarter—while institutional investors own about 83.43% of the stock.

Tactile Systems Technology, Inc. (NASDAQ:TCMD - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $37.40.

Several research firms have issued reports on TCMD. BTIG Research lifted their target price on Tactile Systems Technology from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, February 18th. Lake Street Capital set a $40.00 target price on Tactile Systems Technology and gave the company a "buy" rating in a research note on Wednesday, February 18th. Piper Sandler lifted their target price on Tactile Systems Technology from $35.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, February 18th. Raymond James Financial set a $35.00 target price on Tactile Systems Technology in a research note on Monday, January 5th. Finally, Zacks Research lowered Tactile Systems Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 5th.

Tactile Systems Technology Stock Performance

Shares of Tactile Systems Technology stock opened at $23.43 on Monday. The firm has a market cap of $533.03 million, a P/E ratio of 28.23 and a beta of 0.99. Tactile Systems Technology has a 12 month low of $8.61 and a 12 month high of $37.77. The stock's fifty day moving average price is $27.37 and its 200-day moving average price is $25.03.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The firm had revenue of $103.59 million for the quarter, compared to analyst estimates of $93.80 million. Tactile Systems Technology had a return on equity of 9.26% and a net margin of 5.79%. Analysts forecast that Tactile Systems Technology will post 0.7 earnings per share for the current year.

Insider Buying and Selling at Tactile Systems Technology

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 15,240 shares of Tactile Systems Technology stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $28.30, for a total value of $431,292.00. Following the transaction, the chief executive officer owned 254,878 shares in the company, valued at $7,213,047.40. The trade was a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kristie Burns sold 6,246 shares of Tactile Systems Technology stock in a transaction dated Tuesday, February 24th. The shares were 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 in the company, valued at $2,389,894.14. This trade represents a 7.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 50,137 shares of company stock worth $1,434,839 over the last quarter. Insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Tactile Systems Technology

Several institutional investors have recently added to or reduced their stakes in TCMD. Goldman Sachs Group Inc. boosted its holdings in Tactile Systems Technology by 2.1% in the first quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company's stock worth $2,471,000 after acquiring an additional 3,898 shares in the last quarter. Rhumbline Advisers boosted its holdings in Tactile Systems Technology by 4.0% in the second quarter. Rhumbline Advisers now owns 37,780 shares of the company's stock worth $383,000 after acquiring an additional 1,441 shares in the last quarter. American Century Companies Inc. boosted its holdings in Tactile Systems Technology by 11.2% in the second quarter. American Century Companies Inc. now owns 53,264 shares of the company's stock worth $540,000 after acquiring an additional 5,364 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Tactile Systems Technology by 3.5% in the second quarter. Prudential Financial Inc. now owns 24,360 shares of the company's stock worth $247,000 after acquiring an additional 835 shares in the last quarter. Finally, Norges Bank acquired a new stake in Tactile Systems Technology in the second quarter worth about $1,464,000. Institutional investors and hedge funds own 83.43% of the company's stock.

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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