Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $37.40.

Several brokerages have weighed in on TCMD. Raymond James Financial set a $35.00 price target on Tactile Systems Technology in a report on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Monday, December 29th. Zacks Research downgraded Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. B. Riley Financial upped their target price on shares of Tactile Systems Technology from $16.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Finally, BTIG Research raised their target price on shares of Tactile Systems Technology from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 18th.

Tactile Systems Technology Stock Down 1.4%

NASDAQ:TCMD opened at $27.03 on Thursday. Tactile Systems Technology has a 52 week low of $8.61 and a 52 week high of $37.77. The company has a fifty day simple moving average of $28.81 and a two-hundred day simple moving average of $23.54. The company has a market cap of $614.93 million, a price-to-earnings ratio of 32.57 and a beta of 0.97.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $103.59 million for the quarter, compared to analysts’ expectations of $93.80 million. Tactile Systems Technology had a return on equity of 9.26% and a net margin of 5.79%. On average, analysts expect that Tactile Systems Technology will post 0.7 EPS for the current year.

Insider Buying and Selling at Tactile Systems Technology

In other news, VP Kristie Burns sold 6,246 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total value of $180,759.24. Following the sale, the vice president directly owned 82,581 shares in the company, valued at approximately $2,389,894.14. This trade represents a 7.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sheri Louise Dodd sold 10,993 shares of Tactile Systems Technology stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total transaction of $318,137.42. Following the sale, the chief executive officer directly owned 243,885 shares of the company’s stock, valued at approximately $7,058,031.90. This trade represents a 4.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 55,276 shares of company stock valued at $1,583,099. Insiders own 2.50% of the company’s stock.

Institutional Trading of Tactile Systems Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its position in shares of Tactile Systems Technology by 2.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company’s stock worth $2,471,000 after acquiring an additional 3,898 shares in the last quarter. Rhumbline Advisers raised its position in shares of Tactile Systems Technology by 4.0% during the 2nd quarter. Rhumbline Advisers now owns 37,780 shares of the company’s stock worth $383,000 after acquiring an additional 1,441 shares in the last quarter. American Century Companies Inc. raised its position in shares of Tactile Systems Technology by 11.2% during the 2nd quarter. American Century Companies Inc. now owns 53,264 shares of the company’s stock worth $540,000 after acquiring an additional 5,364 shares in the last quarter. Prudential Financial Inc. lifted its stake in Tactile Systems Technology by 3.5% during the second quarter. Prudential Financial Inc. now owns 24,360 shares of the company’s stock worth $247,000 after purchasing an additional 835 shares during the last quarter. Finally, Norges Bank purchased a new stake in Tactile Systems Technology during the second quarter worth approximately $1,464,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

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.