Brokerages Set Tactile Systems Technology, Inc. (NASDAQ:TCMD) Target Price at $13.50

Tactile Systems Technology, Inc. (NASDAQ:TCMD) has been assigned an average recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $13.50.

A number of analysts have weighed in on TCMD shares. B. Riley restated a “neutral” rating and set a $13.00 target price (up previously from $12.00) on shares of Tactile Systems Technology in a report on Tuesday. William Blair upgraded Tactile Systems Technology to a “strong-buy” rating in a report on Tuesday. Piper Sandler lowered Tactile Systems Technology from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $14.00 in a report on Tuesday, May 6th. Finally, Wall Street Zen lowered Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th.

Tactile Systems Technology Stock Down 1.3%

Shares of NASDAQ TCMD opened at $12.28 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.99 and a current ratio of 3.79. The firm has a market capitalization of $273.72 million, a price-to-earnings ratio of 19.81 and a beta of 0.96. The stock has a 50 day moving average price of $10.26 and a 200 day moving average price of $12.56. Tactile Systems Technology has a 52-week low of $8.61 and a 52-week high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, August 4th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The company had revenue of $78.91 million during the quarter, compared to analyst estimates of $73.93 million. Tactile Systems Technology had a return on equity of 7.72% and a net margin of 5.06%. Sell-side analysts expect that Tactile Systems Technology will post 0.7 earnings per share for the current year.

Insider Activity at Tactile Systems Technology

In other news, CFO Elaine M. Birkemeyer sold 2,921 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $9.94, for a total transaction of $29,034.74. Following the completion of the sale, the chief financial officer owned 99,111 shares in the company, valued at approximately $985,163.34. This represents a 2.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Tactile Systems Technology

Several hedge funds and other institutional investors have recently made changes to their positions in TCMD. Raymond James Financial Inc. acquired a new stake in Tactile Systems Technology during the 4th quarter worth about $330,000. American Century Companies Inc. lifted its stake in Tactile Systems Technology by 21.8% in the 4th quarter. American Century Companies Inc. now owns 39,161 shares of the company’s stock valued at $671,000 after buying an additional 7,001 shares in the last quarter. LPL Financial LLC purchased a new position in Tactile Systems Technology in the 4th quarter valued at about $256,000. Vanguard Group Inc. lifted its stake in Tactile Systems Technology by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 1,483,692 shares of the company’s stock worth $25,416,000 after purchasing an additional 4,509 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Tactile Systems Technology by 45.2% in the 4th quarter. JPMorgan Chase & Co. now owns 41,961 shares of the company’s stock worth $719,000 after purchasing an additional 13,059 shares in the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus 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.