Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives $13.50 Average Target Price from Analysts

Key Points

• Tactile Systems Technology, Inc. (NASDAQ:TCMD) has received a consensus recommendation of "Hold" from five analysts, with an average one-year target price of $13.50.
• Recent analyst reports indicate mixed views, with notable changes including B. Riley's increase of the price target from $12.00 to $13.00 and William Blair's upgrade to a "strong-buy" rating.
• Insider trading activity includes CFO Elaine M. Birkemeyer selling 2,921 shares at approximately $9.94, indicating a 2.86% decrease in ownership post-sale.

Tactile Systems Technology, Inc. (NASDAQ:TCMD - Get Free Report) has earned a consensus recommendation of "Hold" from the five brokerages that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $13.50.

TCMD has been the subject of several research analyst reports. B. Riley reaffirmed a "neutral" rating and set a $13.00 price target (up previously from $12.00) on shares of Tactile Systems Technology in a research report on Tuesday. Piper Sandler cut shares of Tactile Systems Technology from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $25.00 to $14.00 in a research note on Tuesday, May 6th. Wall Street Zen downgraded Tactile Systems Technology from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, William Blair upgraded Tactile Systems Technology to a "strong-buy" rating in a report on Tuesday.

Tactile Systems Technology Trading Up 3.5%

Tactile Systems Technology stock traded up $0.42 during trading on Wednesday, hitting $12.44. The company's stock had a trading volume of 305,956 shares, compared to its average volume of 241,694. The stock's fifty day moving average is $10.22 and its 200 day moving average is $12.60. Tactile Systems Technology has a 1-year low of $8.61 and a 1-year high of $21.10. The stock has a market capitalization of $277.29 million, a price-to-earnings ratio of 20.06 and a beta of 0.96. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.99 and a current ratio of 3.79.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. The company had revenue of $78.91 million during the quarter, compared to the consensus estimate of $73.93 million. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.72%. As a group, equities research analysts predict that Tactile Systems Technology will post 0.7 EPS for the current year.

Insiders Place Their Bets

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 2,921 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $9.94, for a total transaction of $29,034.74. Following the completion of the sale, the chief financial officer directly owned 99,111 shares in the company, valued at $985,163.34. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tactile Systems Technology

A number of hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in Tactile Systems Technology during the 4th quarter worth $330,000. American Century Companies Inc. lifted its stake in shares of Tactile Systems Technology by 21.8% during the fourth quarter. American Century Companies Inc. now owns 39,161 shares of the company's stock worth $671,000 after purchasing an additional 7,001 shares in the last quarter. LPL Financial LLC purchased a new stake in shares of Tactile Systems Technology in the fourth quarter worth about $256,000. Vanguard Group Inc. grew its stake in shares of Tactile Systems Technology by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 1,483,692 shares of the company's stock valued at $25,416,000 after buying an additional 4,509 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Tactile Systems Technology by 45.2% in the fourth quarter. JPMorgan Chase & Co. now owns 41,961 shares of the company's stock valued at $719,000 after buying an additional 13,059 shares in the last quarter. Hedge funds and other institutional investors own 83.43% of the company's stock.

About Tactile Systems Technology

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.