FY2022 EPS Estimates for Tactile Systems Technology, Inc. Raised by Oppenheimer (NASDAQ:TCMD)

Tactile Systems Technology, Inc. (NASDAQ:TCMDGet Rating) – Investment analysts at Oppenheimer upped their FY2022 earnings estimates for Tactile Systems Technology in a research report issued on Tuesday, August 2nd. Oppenheimer analyst S. Kalia now expects that the company will post earnings per share of ($0.75) for the year, up from their previous forecast of ($0.80). Oppenheimer currently has a “Outperform” rating and a $18.00 target price on the stock. The consensus estimate for Tactile Systems Technology’s current full-year earnings is ($0.54) per share. Oppenheimer also issued estimates for Tactile Systems Technology’s Q1 2023 earnings at ($0.08) EPS, Q2 2023 earnings at ($0.04) EPS and FY2023 earnings at ($0.04) EPS.

Other equities analysts also recently issued reports about the stock. BTIG Research decreased their price target on shares of Tactile Systems Technology from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, July 18th. Piper Sandler decreased their price target on shares of Tactile Systems Technology from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Tactile Systems Technology has a consensus rating of “Moderate Buy” and a consensus price target of $23.33.

Tactile Systems Technology Stock Performance

NASDAQ:TCMD opened at $9.03 on Thursday. The company’s 50-day moving average price is $7.80 and its 200-day moving average price is $13.50. The company has a current ratio of 2.30, a quick ratio of 2.08 and a debt-to-equity ratio of 0.41. The company has a market cap of $180.05 million, a P/E ratio of -5.79 and a beta of 1.50. Tactile Systems Technology has a twelve month low of $6.28 and a twelve month high of $46.41.

Tactile Systems Technology (NASDAQ:TCMDGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.11). The business had revenue of $47.98 million during the quarter, compared to analysts’ expectations of $44.91 million. Tactile Systems Technology had a negative return on equity of 15.08% and a negative net margin of 14.00%.

Hedge Funds Weigh In On Tactile Systems Technology

A number of institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its stake in Tactile Systems Technology by 4.4% during the first quarter. Envestnet Asset Management Inc. now owns 19,762 shares of the company’s stock worth $398,000 after purchasing an additional 831 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in shares of Tactile Systems Technology by 0.6% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 187,193 shares of the company’s stock worth $3,562,000 after acquiring an additional 1,098 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Tactile Systems Technology by 2.3% in the 1st quarter. Rhumbline Advisers now owns 54,756 shares of the company’s stock worth $1,104,000 after acquiring an additional 1,220 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Tactile Systems Technology by 219.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,016 shares of the company’s stock valued at $40,000 after purchasing an additional 1,385 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Tactile Systems Technology by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,089 shares of the company’s stock worth $345,000 after purchasing an additional 2,107 shares in the last quarter. 92.58% of the stock is owned by hedge funds and other institutional investors.

Tactile Systems Technology Company Profile

(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.

See Also

Earnings History and Estimates for Tactile Systems Technology (NASDAQ:TCMD)

Receive News & Ratings for Tactile Systems Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tactile Systems Technology and related companies with MarketBeat.com's FREE daily email newsletter.