Tactile Systems Technology, Inc. (NASDAQ:TCMD) Stock Has Consensus Target Price of $38.40 According to Analysts

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $38.40.

TCMD has been the subject of a number of research reports. Weiss Ratings cut Tactile Systems Technology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, September 28th. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. Finally, BTIG Research dropped their target price on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th.

Insider Transactions at Tactile Systems Technology

In other Tactile Systems Technology news, CEO Sheri Dodd sold 10,978 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the completion of the transaction, the chief executive officer directly owned 232,907 shares of the company’s stock, valued at approximately $6,856,782.08. This trade represents a 4.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TCMD. USA Financial Formulas acquired a new position in Tactile Systems Technology during the first quarter valued at $71,000. Summit Securities Group LLC acquired a new stake in Tactile Systems Technology during the 1st quarter worth about $75,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Tactile Systems Technology during the 4th quarter worth approximately $91,000. Versant Capital Management Inc increased its holdings in Tactile Systems Technology by 36.4% in the second quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock valued at $98,000 after buying an additional 876 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Tactile Systems Technology in the 2nd quarter valued at about $101,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Trading Down 0.8%

Shares of Tactile Systems Technology stock opened at $22.02 on Monday. The firm’s 50 day simple moving average is $23.84 and its two-hundred day simple moving average is $25.39. The firm has a market capitalization of $498.75 million, a price-to-earnings ratio of 20.39 and a beta of 0.82. Tactile Systems Technology has a 12-month low of $14.00 and a 12-month high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.14 by $0.20. The business had revenue of $85.70 million during the quarter, compared to the consensus estimate of $85.52 million. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. On average, sell-side analysts predict that Tactile Systems Technology will post 1.1 EPS for the current fiscal year.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, doing business as Tactile Medical, is a medical technology company focused on developing, manufacturing and distributing devices for people with chronic swelling and respiratory conditions. Its products are intended for use in the home and are commonly prescribed by health care professionals as part of ongoing disease-management programs.

The company’s core products include the Flexitouch pneumatic compression system, designed to support the treatment of lymphedema and related conditions, and the Entre system, which provides pneumatic compression therapy for the upper and lower extremities.