Tactile Systems Technology, Inc. (NASDAQ:TCMD) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $37.40.

TCMD has been the topic of several recent research reports. BTIG Research upped their price target on Tactile Systems Technology from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler raised their price objective on Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday. Wall Street Zen raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Monday, December 29th. Finally, Lake Street Capital set a $40.00 price target on shares of Tactile Systems Technology and gave the company a “buy” rating in a research report on Wednesday.

Insider Activity

In other news, VP Kristie Burns sold 5,139 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $28.85, for a total value of $148,260.15. Following the sale, the vice president directly owned 72,401 shares of the company’s stock, valued at $2,088,768.85. The trade was a 6.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.50% of the company’s stock.

Institutional Trading of Tactile Systems Technology

Institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its position in Tactile Systems Technology by 1,594.4% in the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after purchasing an additional 1,993 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Tactile Systems Technology in the 4th quarter worth approximately $32,000. Quarry LP boosted its holdings in shares of Tactile Systems Technology by 302.6% in the third quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after buying an additional 1,743 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Tactile Systems Technology during the fourth quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC bought a new position in Tactile Systems Technology in the fourth quarter worth approximately $37,000. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

Tactile Systems Technology Trading Up 1.7%

Tactile Systems Technology stock opened at $28.72 on Friday. Tactile Systems Technology has a 12 month low of $8.61 and a 12 month high of $37.77. The company has a market cap of $644.48 million, a price-to-earnings ratio of 34.60 and a beta of 0.96. The business’s 50 day simple moving average is $29.09 and its 200 day simple moving average is $21.54.

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