Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives Consensus Recommendation of “Buy” from Analysts

Tactile Systems Technology, Inc. (NASDAQ:TCMDGet Rating) has earned an average rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $34.00.

A number of equities research analysts have weighed in on TCMD shares. TheStreet downgraded Tactile Systems Technology from a “c-” rating to a “d” rating in a 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. BTIG Research cut their price objective on Tactile Systems Technology from $44.00 to $29.00 in a research report on Wednesday, February 23rd. Finally, Piper Sandler lowered their target price on Tactile Systems Technology from $40.00 to $28.00 in a research note on Wednesday, February 23rd.

NASDAQ:TCMD opened at $9.91 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.56 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $197.60 million, a PE ratio of -7.87 and a beta of 1.40. Tactile Systems Technology has a twelve month low of $9.76 and a twelve month high of $57.64. The stock’s 50-day simple moving average is $17.15 and its 200 day simple moving average is $19.09.

Tactile Systems Technology (NASDAQ:TCMDGet Rating) last posted its earnings results on Tuesday, February 22nd. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.34). Tactile Systems Technology had a negative net margin of 11.78% and a negative return on equity of 12.31%. The firm had revenue of $61.73 million during the quarter, compared to the consensus estimate of $58.22 million. During the same quarter in the prior year, the business posted $0.61 earnings per share. On average, analysts anticipate that Tactile Systems Technology will post -0.49 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Tactile Systems Technology by 0.8% in the first quarter. BlackRock Inc. now owns 3,764,795 shares of the company’s stock worth $75,899,000 after acquiring an additional 29,898 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Tactile Systems Technology by 2.5% during the 4th quarter. Champlain Investment Partners LLC now owns 1,785,185 shares of the company’s stock worth $33,972,000 after acquiring an additional 42,720 shares in the last quarter. Geneva Capital Management LLC raised its position in shares of Tactile Systems Technology by 4.6% during 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 last quarter. Vanguard Group Inc. raised its holdings in Tactile Systems Technology by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 1,339,530 shares of the company’s stock valued at $27,005,000 after acquiring an additional 119,456 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of Tactile Systems Technology by 18.7% during the 3rd quarter. Macquarie Group Ltd. now owns 1,319,088 shares of the company’s stock worth $58,633,000 after buying an additional 207,748 shares during the last quarter. 92.58% of the stock is 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.

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