Tactile Systems Technology (NASDAQ:TCMD) Hits New 12-Month High – What’s Next?

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) reached a new 52-week high during trading on Monday . The company traded as high as $30.97 and last traded at $29.22, with a volume of 153463 shares trading hands. The stock had previously closed at $27.40.

Wall Street Analyst Weigh In

TCMD has been the topic of several analyst reports. 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. Raymond James Financial set a $35.00 target price on Tactile Systems Technology in a report on Monday. Piper Sandler set a $35.00 target price on shares of Tactile Systems Technology in a report on Monday. 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. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $28.75.

Tactile Systems Technology Stock Performance

The company has a 50-day moving average of $25.40 and a 200-day moving average of $16.97. The stock has a market cap of $672.32 million, a price-to-earnings ratio of 39.18 and a beta of 0.91.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $85.76 million during the quarter, compared to the consensus estimate of $79.31 million. As a group, equities research analysts forecast that Tactile Systems Technology, Inc. will post 0.7 EPS for the current year.

Institutional Investors Weigh In On Tactile Systems Technology

A number of institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its stake in shares of Tactile Systems Technology by 1,594.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after buying an additional 1,993 shares in the last quarter. Quarry LP raised 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 worth $32,000 after acquiring an additional 1,743 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in Tactile Systems Technology in the third quarter valued at $47,000. BNP Paribas Financial Markets lifted its holdings in Tactile Systems Technology by 95.8% in 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. Finally, Oxford Asset Management LLP purchased a new stake in shares of Tactile Systems Technology during the 2nd quarter worth $124,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Company Profile

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.