Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives $21.67 Average Price Target from Analysts

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have received a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $21.6667.

Several research firms have recently issued reports on TCMD. Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Tactile Systems Technology in a research note on Wednesday, October 8th. Lake Street Capital upped their price target on shares of Tactile Systems Technology from $23.50 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Zacks Research upgraded shares of Tactile Systems Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Finally, William Blair raised Tactile Systems Technology to a “strong-buy” rating in a report on Tuesday, August 5th.

Institutional Trading of Tactile Systems Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in Tactile Systems Technology by 1,594.4% during the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock valued at $29,000 after buying an additional 1,993 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Tactile Systems Technology by 95.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,526 shares of the company’s stock valued at $63,000 after acquiring an additional 2,214 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of Tactile Systems Technology during the 1st quarter valued at about $138,000. Strs Ohio acquired a new position in shares of Tactile Systems Technology in the 3rd quarter worth approximately $147,000. Finally, State of Wyoming raised its holdings in shares of Tactile Systems Technology by 185.0% in the 3rd quarter. State of Wyoming now owns 10,656 shares of the company’s stock worth $147,000 after purchasing an additional 6,917 shares in the last quarter. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Stock Performance

TCMD opened at $23.70 on Friday. The company has a current ratio of 3.79, a quick ratio of 3.36 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $16.14 and its 200-day moving average is $12.73. The stock has a market cap of $529.36 million, a PE ratio of 38.23 and a beta of 1.06. Tactile Systems Technology has a twelve month low of $8.61 and a twelve month high of $25.42.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.20. The business had revenue of $85.76 million during the quarter, compared to analyst estimates of $79.31 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. On average, analysts predict that Tactile Systems Technology will post 0.7 earnings per share for the current year.

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.