Tactile Systems Technology (NASDAQ:TCMD) Upgraded to Buy at Wall Street Zen

Key Points

• Tactile Systems Technology (NASDAQ: TCMD) has been upgraded by Wall Street Zen from a "hold" rating to a "buy" rating.
• Analysts have varied opinions on the stock, with B. Riley setting a price target of $13.00, while Piper Sandler lowered their target from $25.00 to $14.00.
• The company reported strong earnings with an EPS of $0.14, exceeding analysts' expectations, and had revenue of $78.91 million for the last quarter.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Other research analysts also recently issued research reports about the stock. B. Riley reissued a "neutral" rating and issued a $13.00 target price (up previously from $12.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 5th. Piper Sandler downgraded shares of Tactile Systems Technology from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $25.00 to $14.00 in a research note on Tuesday, May 6th. Finally, William Blair raised shares of Tactile Systems Technology to a "strong-buy" rating in a research note on Tuesday, August 5th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tactile Systems Technology presently has an average rating of "Moderate Buy" and a consensus target price of $13.50.

Tactile Systems Technology Price Performance

Tactile Systems Technology stock traded down $0.16 during midday trading on Friday, reaching $12.28. The company's stock had a trading volume of 225,255 shares, compared to its average volume of 255,382. Tactile Systems Technology has a fifty-two week low of $8.61 and a fifty-two week high of $21.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 3.79. The stock's 50 day simple moving average is $10.26 and its 200 day simple moving average is $12.49. The firm has a market capitalization of $273.72 million, a PE ratio of 19.81 and a beta of 0.96.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.14 EPS for the quarter, topping 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 analyst estimates of $73.93 million. On average, equities research analysts forecast that Tactile Systems Technology will post 0.7 earnings per share for the current year.

Insider Transactions at Tactile Systems Technology

In related news, CFO Elaine M. Birkemeyer sold 2,921 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $9.94, for a total transaction of $29,034.74. Following the transaction, the chief financial officer directly owned 99,111 shares in the company, valued at $985,163.34. This trade represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Tactile Systems Technology by 64,350.0% during the first quarter. GAMMA Investing LLC now owns 2,578 shares of the company's stock worth $34,000 after acquiring an additional 2,574 shares during the period. Victory Capital Management Inc. acquired a new stake in Tactile Systems Technology during the 1st quarter worth about $1,160,000. Arrowstreet Capital Limited Partnership boosted its position in Tactile Systems Technology by 163.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 52,227 shares of the company's stock worth $895,000 after acquiring an additional 32,378 shares during the period. Bank of America Corp DE boosted its position in Tactile Systems Technology by 67.5% during the 4th quarter. Bank of America Corp DE now owns 101,867 shares of the company's stock worth $1,745,000 after acquiring an additional 41,037 shares during the period. Finally, Millennium Management LLC acquired a new stake in Tactile Systems Technology during the 4th quarter worth about $2,793,000. 83.43% of the stock is owned by institutional investors and hedge funds.

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.