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

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 equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

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

Tactile Systems Technology Stock Performance

TCMD stock traded up $0.17 during trading on Friday, hitting $12.74. The company had a trading volume of 85,017 shares, compared to its average volume of 279,653. The firm has a market cap of $284.00 million, a PE ratio of 20.55 and a beta of 0.96. Tactile Systems Technology has a 1-year low of $8.61 and a 1-year high of $21.10. The firm has a 50-day moving average price of $10.35 and a 200-day moving average price of $12.45. 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 issued its quarterly earnings results on Monday, August 4th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $78.91 million for the quarter, compared to analysts' expectations of $73.93 million. Tactile Systems Technology had a return on equity of 7.72% and a net margin of 5.06%. On average, analysts expect that Tactile Systems Technology will post 0.7 earnings per share for the current year.

Insider Transactions at Tactile Systems Technology

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 7,762 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $12.36, for a total transaction of $95,938.32. Following the transaction, the chief executive officer owned 173,479 shares in the company, valued at approximately $2,144,200.44. The trade was a 4.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On Tactile Systems Technology

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Tactile Systems Technology by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,501,006 shares of the company's stock worth $19,843,000 after acquiring an additional 17,314 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Tactile Systems Technology by 8.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 901,551 shares of the company's stock worth $15,444,000 after acquiring an additional 67,934 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Tactile Systems Technology by 248.3% in the 2nd quarter. Acadian Asset Management LLC now owns 683,662 shares of the company's stock worth $6,930,000 after acquiring an additional 487,392 shares during the period. Deutsche Bank AG grew its holdings in shares of Tactile Systems Technology by 1.0% in the 1st quarter. Deutsche Bank AG now owns 623,033 shares of the company's stock worth $8,236,000 after acquiring an additional 6,421 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Tactile Systems Technology by 44.0% in the 4th quarter. Renaissance Technologies LLC now owns 451,100 shares of the company's stock worth $7,727,000 after acquiring an additional 137,900 shares during the period. Institutional investors and hedge funds 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.