Tactile Systems Technology, Inc. (NASDAQ:TCMD) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $21.6667.

Several analysts recently issued reports on TCMD shares. Zacks Research raised Tactile Systems Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Tactile Systems Technology in a research report on Tuesday, December 2nd. Wall Street Zen upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Piper Sandler reaffirmed a “neutral” rating and set a $20.00 price target (up from $14.00) on shares of Tactile Systems Technology in a report on Tuesday, November 4th. Finally, Lake Street Capital lifted 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.

Tactile Systems Technology Stock Down 0.6%

Shares of Tactile Systems Technology stock opened at $27.75 on Tuesday. Tactile Systems Technology has a fifty-two week low of $8.61 and a fifty-two week high of $28.04. The firm has a market cap of $619.94 million, a PE ratio of 36.04 and a beta of 0.92. The business’s fifty day moving average is $19.93 and its two-hundred day moving average is $14.42.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.20. Tactile Systems Technology had a return on equity of 8.84% and a net margin of 5.83%.The business had revenue of $85.76 million during the quarter, compared to the consensus estimate of $79.31 million. Equities research analysts anticipate that Tactile Systems Technology will post 0.7 EPS for the current year.

Hedge Funds Weigh In On Tactile Systems Technology

Several large investors have recently modified their holdings of the stock. Acadian Asset Management LLC lifted its holdings in shares of Tactile Systems Technology by 248.3% in the 2nd quarter. Acadian Asset Management LLC now owns 683,662 shares of the company’s stock worth $6,930,000 after purchasing an additional 487,392 shares during the last quarter. Federated Hermes Inc. increased 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 worth $5,593,000 after buying 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. LSV Asset Management lifted its stake in Tactile Systems Technology by 304.8% in the third quarter. LSV Asset Management now owns 146,945 shares of the company’s stock valued at $2,034,000 after buying an additional 110,645 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Tactile Systems Technology by 297.3% during the third quarter. Bridgeway Capital Management LLC now owns 133,878 shares of the company’s stock valued at $1,853,000 after acquiring an additional 100,178 shares during the period. Institutional investors own 83.43% of the company’s stock.

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.