Tactile Systems Technology (NASDAQ:TCMD) Earns Buy Rating from Analysts at Lake Street Capital

Key Points

• Lake Street Capital has initiated coverage on Tactile Systems Technology (NASDAQ:TCMD) with a buy rating and a price target of $23.50, indicating a potential upside of 68.22%.
• Tactile Systems Technology reported earnings of $0.14 per share for the last quarter, surpassing analysts' expectations, with revenue reaching $78.91 million.
• CEO Sheri Louise Dodd sold approximately 7,762 shares at an average price of $12.36, resulting in a 4.28% decrease in her holdings of the company's stock.

Investment analysts at Lake Street Capital started coverage on shares of Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) in a report issued on Friday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $23.50 price target on the stock. Lake Street Capital's target price would indicate a potential upside of 68.22% from the company's current price.

A number of other analysts have also issued reports on TCMD. William Blair raised shares of Tactile Systems Technology to a "strong-buy" rating in a research note on Tuesday, August 5th. Wall Street Zen raised shares of Tactile Systems Technology from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, B. Riley restated a "neutral" rating and set a $13.00 price objective (up previously from $12.00) on shares of Tactile Systems Technology in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.83.

Tactile Systems Technology Stock Performance

Shares of NASDAQ:TCMD opened at $13.97 on Friday. The stock has a market capitalization of $311.39 million, a P/E ratio of 22.53 and a beta of 1.04. Tactile Systems Technology has a 52 week low of $8.61 and a 52 week high of $21.10. The firm has a fifty day simple moving average of $12.83 and a two-hundred day simple moving average of $11.89. The company has a quick ratio of 3.36, a current ratio of 3.79 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.72%. The business had revenue of $78.91 million for the quarter, compared to the consensus estimate of $73.93 million. Tactile Systems Technology has set its FY 2025 guidance at EPS. On average, analysts expect that Tactile Systems Technology will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sheri Louise Dodd sold 7,762 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $12.36, for a total value of $95,938.32. Following the completion of the transaction, the chief executive officer directly owned 173,479 shares of the company's stock, valued at approximately $2,144,200.44. This represents a 4.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company's stock.

Institutional Trading of Tactile Systems Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Oxford Asset Management LLP acquired a new stake in shares of Tactile Systems Technology in the 2nd quarter worth $124,000. Paradigm Capital Management Inc. NY boosted its stake in shares of Tactile Systems Technology by 5.9% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company's stock valued at $16,413,000 after buying an additional 89,600 shares during the period. Engineers Gate Manager LP lifted its stake in Tactile Systems Technology by 249.5% during the second quarter. Engineers Gate Manager LP now owns 51,862 shares of the company's stock worth $526,000 after purchasing an additional 37,021 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in Tactile Systems Technology during the second quarter worth approximately $342,000. Finally, Federated Hermes Inc. increased its position in Tactile Systems Technology by 42.7% during the second quarter. Federated Hermes Inc. now owns 551,561 shares of the company's stock worth $5,593,000 after buying an additional 165,163 shares during the period. 83.43% of the stock is owned by institutional investors and hedge funds.

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.

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