Tactile Systems Technology (NASDAQ:TCMD) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Key Points

• Quarterly results: Tactile reported EPS of ($0.08), missing consensus by $0.01, while revenue of $75.27 million beat estimates of $70.57 million.
• Market reaction: Shares fell to $22.43 on heavy volume, trading below their 50‑ and 200‑day moving averages (~$26) and valuing the company at about $510 million.
• Insiders and analysts: CEO and CFO sold stock (insiders sold 50,137 shares worth roughly $1.43M in the quarter), but analysts' consensus is a "Moderate Buy" with an average price target of $37.40 and several raised targets.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01), FiscalAI reports. Tactile Systems Technology had a return on equity of 9.26% and a net margin of 5.79%.The company had revenue of $75.27 million during the quarter, compared to analyst estimates of $70.57 million.

Tactile Systems Technology Price Performance

NASDAQ TCMD traded down $0.46 on Monday, hitting $22.43. 654,510 shares of the company were exchanged, compared to its average volume of 326,336. The company's 50 day moving average price is $26.42 and its 200-day moving average price is $26.04. The firm has a market capitalization of $510.28 million, a P/E ratio of 27.02 and a beta of 0.82. Tactile Systems Technology has a twelve month low of $8.61 and a twelve month high of $37.77.

Analyst Upgrades and Downgrades

Several brokerages have commented on TCMD. B. Riley Financial boosted their price target on shares of Tactile Systems Technology from $16.00 to $32.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 18th. Zacks Research cut shares of Tactile Systems Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 5th. BTIG Research boosted their price target on shares of Tactile Systems Technology from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, February 18th. Lake Street Capital set a $40.00 price target on shares of Tactile Systems Technology and gave the stock a "buy" rating in a research report on Wednesday, February 18th. Finally, Piper Sandler boosted their price target on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $37.40.

Insiders Place Their Bets

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 10,993 shares of the business's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total transaction of $318,137.42. Following the sale, the chief executive officer owned 243,885 shares in the company, valued at approximately $7,058,031.90. The trade was a 4.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elaine M. Birkemeyer sold 7,701 shares of the business's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total value of $222,866.94. Following the sale, the chief financial officer owned 134,819 shares in the company, valued at approximately $3,901,661.86. The trade was a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 50,137 shares of company stock worth $1,434,839. Company insiders own 2.10% of the company's stock.

Institutional Trading of Tactile Systems Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in Tactile Systems Technology during the 4th quarter worth about $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Tactile Systems Technology during the 4th quarter worth about $36,000. Global Retirement Partners LLC purchased a new position in Tactile Systems Technology during the 4th quarter valued at about $37,000. Russell Investments Group Ltd. lifted its position in shares of Tactile Systems Technology by 1,594.4% in the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company's stock worth $29,000 after purchasing an additional 1,993 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Tactile Systems Technology by 302.6% in the third quarter. Quarry LP now owns 2,319 shares of the company's stock worth $32,000 after purchasing an additional 1,743 shares in the last quarter. Institutional investors and hedge funds own 83.43% of the company's stock.

Tactile Systems Technology Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.