Tactile Systems Technology, Inc. (NASDAQ:TCMD – Get 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
Tactile Systems Technology (NASDAQ:TCMD – Get 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
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)
- Is It Time to Take a Ride on Cedar Fair Stock?
- Time To Take A Serious Look At Nikola Stock As Production Starts
- These Are The Top Insider Buying Stocks For July
- Chipotle Mexican Grill Or Shake Shak? Which Is The Tastier Play
- Activision Blizzard Banks On A Flurry Of New Content
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.