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

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 been assigned an average recommendation of "Hold" from the five analysts that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $13.50.

Several equities analysts have recently weighed in on the stock. William Blair upgraded shares of Tactile Systems Technology to a "strong-buy" rating in a research note on Tuesday, August 5th. Wall Street Zen upgraded shares of Tactile Systems Technology from a "hold" rating to a "buy" rating in a research note on Saturday. B. Riley reiterated a "neutral" rating and issued a $13.00 price objective (up from $12.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 5th. Finally, Piper Sandler lowered shares of Tactile Systems Technology from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $25.00 to $14.00 in a research note on Tuesday, May 6th.

Insider Buying and Selling

In related 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 transaction, the chief financial officer owned 99,111 shares of the company's stock, valued at approximately $985,163.34. The trade was a 2.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Tactile Systems Technology by 64,350.0% in the first quarter. GAMMA Investing LLC now owns 2,578 shares of the company's stock valued at $34,000 after purchasing an additional 2,574 shares in the last quarter. Virtus Fund Advisers LLC lifted its holdings in shares of Tactile Systems Technology by 142.0% during the 4th quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company's stock worth $72,000 after acquiring an additional 2,464 shares during the last quarter. Quarry LP purchased a new position in Tactile Systems Technology in the fourth quarter worth $81,000. Legal & General Group Plc increased its stake in Tactile Systems Technology by 33.2% in the fourth quarter. Legal & General Group Plc now owns 6,257 shares of the company's stock valued at $107,000 after acquiring an additional 1,558 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new position in Tactile Systems Technology in the fourth quarter valued at $145,000. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

Tactile Systems Technology Stock Performance

NASDAQ:TCMD traded down $0.16 during trading hours on Wednesday, reaching $12.28. The stock had a trading volume of 225,255 shares, compared to its average volume of 250,764. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.99 and a current ratio of 3.79. The stock has a 50 day simple moving average of $10.26 and a 200 day simple moving average of $12.52. Tactile Systems Technology has a 12-month low of $8.61 and a 12-month high of $21.10. The stock has a market cap of $273.75 million, a P/E ratio of 19.81 and a beta of 0.96.

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

Tactile Systems Technology Company Profile

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.