BTIG Research Issues Positive Forecast for Tactile Systems Technology (NASDAQ:TCMD) Stock Price

Tactile Systems Technology (NASDAQ:TCMD) had its price target boosted by BTIG Research from $38.00 to $40.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 78.33% from the company’s previous close.

Several other equities research analysts have also recently commented on TCMD. Piper Sandler increased 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, February 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tactile Systems Technology in a research report on Friday, March 27th. Lake Street Capital set a $40.00 price objective on Tactile Systems Technology and gave the company a “buy” rating in a research report on Wednesday, February 18th. B. Riley Financial increased their price objective on Tactile Systems Technology from $16.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Finally, Raymond James Financial set a $35.00 price objective on Tactile Systems Technology in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.80.

Tactile Systems Technology Price Performance

Shares of NASDAQ:TCMD opened at $22.43 on Tuesday. Tactile Systems Technology has a 1-year low of $8.61 and a 1-year high of $37.77. The business has a fifty day moving average price of $26.42 and a 200-day moving average price of $26.04. The company has a market capitalization of $510.28 million, a PE ratio of 27.02 and a beta of 0.82.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.26%. The company had revenue of $75.27 million for the quarter, compared to the consensus estimate of $70.57 million. On average, sell-side analysts anticipate that Tactile Systems Technology will post 1.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tactile Systems Technology news, VP Kristie Burns sold 6,246 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total value of $180,759.24. Following the transaction, the vice president directly owned 82,581 shares of the company’s stock, valued at approximately $2,389,894.14. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Elaine M. Birkemeyer sold 7,701 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total value of $222,866.94. Following the completion of the transaction, the chief financial officer directly owned 134,819 shares in the company, valued at $3,901,661.86. The trade was a 5.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 50,137 shares of company stock valued at $1,434,839. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Tactile Systems Technology by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company’s stock worth $47,884,000 after purchasing an additional 76,198 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its position in Tactile Systems Technology by 5.9% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock worth $16,413,000 after purchasing an additional 89,600 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Tactile Systems Technology by 2.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,191,207 shares of the company’s stock worth $16,486,000 after purchasing an additional 24,001 shares during the last quarter. Federated Hermes Inc. boosted its position in Tactile Systems Technology by 19.4% in the fourth quarter. Federated Hermes Inc. now owns 645,408 shares of the company’s stock worth $18,717,000 after purchasing an additional 104,648 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Tactile Systems Technology by 0.3% in the fourth quarter. Deutsche Bank AG now owns 578,669 shares of the company’s stock worth $16,781,000 after purchasing an additional 1,482 shares during the last quarter. 83.43% of the stock is owned by hedge funds and other institutional investors.

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.