Tactile Systems Technology, Inc. (NASDAQ:TCMD – Free Report) – William Blair issued their Q3 2023 earnings per share (EPS) estimates for shares of Tactile Systems Technology in a research note issued to investors on Wednesday, September 6th. William Blair analyst M. Kaczor forecasts that the company will post earnings per share of $0.03 for the quarter. The consensus estimate for Tactile Systems Technology’s current full-year earnings is $0.15 per share. William Blair also issued estimates for Tactile Systems Technology’s Q1 2024 earnings at ($0.21) EPS and Q2 2024 earnings at $0.08 EPS.
TCMD has been the subject of several other reports. TheStreet raised shares of Tactile Systems Technology from a “d+” rating to a “c-” rating in a report on Tuesday, May 23rd. StockNews.com downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Oppenheimer lifted their target price on shares of Tactile Systems Technology from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, August 8th.
Tactile Systems Technology Trading Down 0.7 %
Shares of TCMD stock opened at $18.28 on Friday. Tactile Systems Technology has a 12 month low of $6.52 and a 12 month high of $26.11. The company has a market cap of $428.85 million, a PE ratio of 609.33 and a beta of 1.20. The company has a quick ratio of 2.66, a current ratio of 3.08 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $21.03 and its two-hundred day moving average is $19.76.
Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) last posted its earnings results on Monday, August 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. The firm had revenue of $68.34 million for the quarter, compared to the consensus estimate of $65.48 million. Tactile Systems Technology had a net margin of 0.13% and a return on equity of 5.89%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank increased its holdings in shares of Tactile Systems Technology by 9.1% during the 1st quarter. Swiss National Bank now owns 46,900 shares of the company’s stock worth $946,000 after purchasing an additional 3,900 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Tactile Systems Technology by 3.8% during the 1st quarter. Bank of New York Mellon Corp now owns 243,980 shares of the company’s stock worth $4,920,000 after purchasing an additional 8,998 shares during the period. Citigroup Inc. increased its holdings in shares of Tactile Systems Technology by 14.1% during the 1st quarter. Citigroup Inc. now owns 19,298 shares of the company’s stock worth $389,000 after purchasing an additional 2,391 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Tactile Systems Technology by 219.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,016 shares of the company’s stock worth $40,000 after purchasing an additional 1,385 shares during the period. Finally, MetLife Investment Management LLC increased its position in shares of Tactile Systems Technology by 55.2% during the first quarter. MetLife Investment Management LLC now owns 12,782 shares of the company’s stock valued at $258,000 after purchasing an additional 4,544 shares during the period. 85.97% of the stock is owned by institutional investors.
About Tactile Systems Technology
Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema; Entre 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; Kylee, a mobile application to help patients learn about lymphedema, track their symptoms, treatment, and share their progress with their doctor; and AffloVest, a portable high frequency chest wall oscillation vest for the treatment of retained pulmonary secretions, such as bronchiectasis, cystic fibrosis, and various neuromuscular disorders.
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