Tactile Systems Technology, Inc. (NASDAQ:TCMD – Get Rating) – Stock analysts at William Blair lowered their Q2 2022 earnings estimates for Tactile Systems Technology in a research report issued on Monday, May 2nd. William Blair analyst M. Kaczor now forecasts that the company will post earnings of ($0.20) per share for the quarter, down from their prior forecast of ($0.19). William Blair also issued estimates for Tactile Systems Technology’s Q3 2022 earnings at ($0.05) EPS, Q4 2022 earnings at $0.15 EPS, FY2022 earnings at ($0.52) EPS, Q1 2023 earnings at ($0.25) EPS, Q2 2023 earnings at ($0.04) EPS, Q3 2023 earnings at $0.11 EPS, Q4 2023 earnings at $0.29 EPS and FY2023 earnings at $0.12 EPS.
Several other equities analysts have also recently issued reports on the company. BTIG Research lowered their price objective on Tactile Systems Technology from $44.00 to $29.00 in a research report on Wednesday, February 23rd. StockNews.com started coverage on Tactile Systems Technology in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Piper Sandler lowered their price objective on Tactile Systems Technology from $40.00 to $28.00 in a research report on Wednesday, February 23rd. Zacks Investment Research raised Tactile Systems Technology from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 11th. Finally, TheStreet cut Tactile Systems Technology from a “c-” rating to a “d” rating in a report on Wednesday, February 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $38.00.
Tactile Systems Technology (NASDAQ:TCMD – Get Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.34). The company had revenue of $61.73 million during the quarter, compared to analysts’ expectations of $58.22 million. Tactile Systems Technology had a negative return on equity of 7.31% and a negative net margin of 5.68%. During the same quarter in the previous year, the company earned $0.61 EPS.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Tactile Systems Technology by 7.2% in the 4th quarter. BlackRock Inc. now owns 3,734,897 shares of the company’s stock worth $71,076,000 after purchasing an additional 251,427 shares during the period. Champlain Investment Partners LLC raised its holdings in Tactile Systems Technology by 2.5% in the 4th quarter. Champlain Investment Partners LLC now owns 1,785,185 shares of the company’s stock worth $33,972,000 after purchasing an additional 42,720 shares during the period. Geneva Capital Management LLC raised its holdings in Tactile Systems Technology by 4.6% in the 1st quarter. Geneva Capital Management LLC now owns 1,388,905 shares of the company’s stock worth $28,000,000 after purchasing an additional 61,423 shares during the period. Macquarie Group Ltd. raised its holdings in Tactile Systems Technology by 18.7% in the 3rd quarter. Macquarie Group Ltd. now owns 1,319,088 shares of the company’s stock worth $58,633,000 after purchasing an additional 207,748 shares during the period. Finally, State Street Corp raised its holdings in Tactile Systems Technology by 41.4% in the 4th quarter. State Street Corp now owns 1,077,933 shares of the company’s stock worth $20,513,000 after purchasing an additional 315,539 shares during the period. 92.58% of the stock is currently owned by institutional investors.
About Tactile Systems Technology (Get Rating)
Tactile Systems Technology, Inc, a medical technology company, engages in the development and provision of medical devices for chronic diseases in the United States. The company offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema; Entre system, a portable pneumatic compression device that is used for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers; and AffloVest, a portable high frequency chest wall oscillation test for the treatment of retained pulmonary secretions such as bronchiectasis, cystic fibrosis, and various neuromuscular disorders.
- Get a free copy of the StockNews.com research report on Tactile Systems Technology (TCMD)
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