Tactile Systems Technology (NASDAQ:TCMD) Coverage Initiated at Lake Street Capital

Investment analysts at Lake Street Capital assumed coverage on shares of Tactile Systems Technology (NASDAQ:TCMD) in a report issued on Friday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $23.50 price target on the stock. Lake Street Capital’s price target points to a potential upside of 54.61% from the company’s previous close.

A number of other analysts have also recently issued reports on TCMD. William Blair raised Tactile Systems Technology to a “strong-buy” rating in a research report on Tuesday, August 5th. B. Riley reissued a “neutral” rating and issued a $13.00 target price (up from $12.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 5th. Finally, Wall Street Zen raised Tactile Systems Technology from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Tactile Systems Technology has an average rating of “Hold” and an average price target of $16.83.

Tactile Systems Technology Stock Up 8.8%

Shares of NASDAQ TCMD opened at $15.20 on Friday. The stock has a market cap of $338.81 million, a PE ratio of 24.52 and a beta of 1.04. The company has a quick ratio of 3.36, a current ratio of 3.79 and a debt-to-equity ratio of 0.11. Tactile Systems Technology has a 52-week low of $8.61 and a 52-week high of $21.10. The business has a 50-day moving average price of $12.92 and a 200 day moving average price of $11.89.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, August 4th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $78.91 million during the quarter, compared to analysts’ expectations of $73.93 million. Tactile Systems Technology had a return on equity of 7.72% and a net margin of 5.06%. Tactile Systems Technology has set its FY 2025 guidance at EPS. Equities research analysts forecast that Tactile Systems Technology will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sheri Louise Dodd sold 7,762 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $12.36, for a total value of $95,938.32. Following the completion of the transaction, the chief executive officer directly owned 173,479 shares of the company’s stock, valued at $2,144,200.44. This trade represents a 4.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Tactile Systems Technology

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Tactile Systems Technology by 64,350.0% in the 1st quarter. GAMMA Investing LLC now owns 2,578 shares of the company’s stock valued at $34,000 after purchasing an additional 2,574 shares in the last quarter. Oxford Asset Management LLP purchased a new position in Tactile Systems Technology in the 2nd quarter valued at approximately $124,000. Pinnacle Wealth Management Advisory Group LLC purchased a new position in Tactile Systems Technology in the 2nd quarter valued at approximately $134,000. EP Wealth Advisors LLC purchased a new position in Tactile Systems Technology in the 1st quarter valued at approximately $138,000. Finally, Algert Global LLC purchased a new position in Tactile Systems Technology in the 1st quarter valued at approximately $160,000. 83.43% of the stock is owned by hedge funds and other institutional investors.

About Tactile Systems Technology

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.