Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $28.75.

Several research analysts have recently issued reports on TCMD shares. Raymond James Financial set a $35.00 price objective on shares of Tactile Systems Technology in a report on Monday, January 5th. Piper Sandler set a $35.00 price target on Tactile Systems Technology in a research note on Monday, January 5th. Wall Street Zen raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Lake Street Capital lifted their price objective on Tactile Systems Technology from $23.50 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Zacks Research cut Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th.

Insider Activity

In other news, VP Kristie Burns sold 5,139 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $28.85, for a total value of $148,260.15. Following the completion of the transaction, the vice president owned 72,401 shares in the company, valued at approximately $2,088,768.85. This represents a 6.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Tactile Systems Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCMD. Russell Investments Group Ltd. grew its stake in shares of Tactile Systems Technology by 1,594.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock valued at $29,000 after purchasing an additional 1,993 shares during the period. Quarry LP grew its position in Tactile Systems Technology by 302.6% in the third quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after acquiring an additional 1,743 shares during the period. State of Alaska Department of Revenue bought a new stake in Tactile Systems Technology in the fourth quarter valued at $86,000. Aquatic Capital Management LLC acquired a new position in Tactile Systems Technology during the third quarter worth $47,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Tactile Systems Technology by 95.8% during the third 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 period. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Stock Down 0.4%

TCMD opened at $29.11 on Wednesday. Tactile Systems Technology has a 12-month low of $8.61 and a 12-month high of $31.38. The firm has a market capitalization of $650.32 million, a P/E ratio of 37.81 and a beta of 0.91. The stock’s 50 day moving average price is $28.50 and its two-hundred day moving average price is $19.35.

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

About Tactile Systems Technology

Tactile Systems Technology, Inc, headquartered in Plymouth, Minnesota, is a medical device company specializing in the design, manufacture and marketing of home-use pneumatic compression therapy systems for the treatment of lymphedema and other chronic edema-related conditions. Using proprietary software and patented pump technologies, the company’s platforms are designed to improve patient outcomes through sequential pressure treatment that promotes fluid mobilization and enhanced lymphatic function.

At the core of Tactile Systems’ product portfolio is the Flexitouch® system, a programmable pneumatic pump and garment system approved for home use, and the Aria® device, which features an intuitive touchscreen interface and advanced garment design.