Tactile Systems Technology (NASDAQ:TCMD) Hits New 1-Year High on Earnings Beat

Tactile Systems Technology, Inc. (NASDAQ:TCMD) shares reached a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $23.59 and last traded at $23.2230, with a volume of 761297 shares. The stock had previously closed at $15.77.

The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.20. Tactile Systems Technology had a return on equity of 7.72% and a net margin of 5.06%.The firm had revenue of $85.76 million during the quarter, compared to analyst estimates of $79.31 million. Tactile Systems Technology has set its FY 2025 guidance at EPS.

Analyst Ratings Changes

Several brokerages have commented on TCMD. Lake Street Capital lifted their price target on Tactile Systems Technology from $23.50 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tactile Systems Technology in a research report on Wednesday, October 8th. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Piper Sandler restated a “neutral” rating and set a $20.00 price objective (up from $14.00) on shares of Tactile Systems Technology in a research report on Tuesday. Finally, B. Riley restated a “neutral” rating and set a $13.00 price objective (up from $12.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.67.

Insiders Place Their Bets

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 7,762 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 173,479 shares in the company, valued at $2,144,200.44. This represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.50% of the stock is owned by company insiders.

Institutional Trading of Tactile Systems Technology

A number of large investors have recently bought and sold shares of TCMD. Acadian Asset Management LLC grew its position in Tactile Systems Technology by 248.3% in the second quarter. Acadian Asset Management LLC now owns 683,662 shares of the company’s stock valued at $6,930,000 after acquiring an additional 487,392 shares during the period. Federated Hermes Inc. grew its position in Tactile Systems Technology by 42.7% in the second quarter. Federated Hermes Inc. now owns 551,561 shares of the company’s stock valued at $5,593,000 after acquiring an additional 165,163 shares during the period. Norges Bank bought a new stake in Tactile Systems Technology in the second quarter valued at $1,464,000. Paradigm Capital Management Inc. NY grew its position in Tactile Systems Technology by 5.9% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock valued at $16,413,000 after acquiring an additional 89,600 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in Tactile Systems Technology in the first quarter valued at $1,160,000. 83.43% of the stock is currently owned by institutional investors.

Tactile Systems Technology Stock Up 40.6%

The business has a 50-day simple moving average of $14.36 and a two-hundred day simple moving average of $12.15. The stock has a market capitalization of $494.44 million, a P/E ratio of 35.77 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.

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.