Tactile Systems Technology (NASDAQ:TCMD) Issues Earnings Results, Misses Estimates By $0.01 EPS

Tactile Systems Technology (NASDAQ:TCMD) posted its quarterly earnings results on Monday. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01), FiscalAI reports. Tactile Systems Technology had a return on equity of 9.26% and a net margin of 5.79%.The company had revenue of $75.27 million during the quarter, compared to analyst estimates of $70.57 million.

Tactile Systems Technology Trading Down 2.0%

Tactile Systems Technology stock traded down $0.46 during trading hours on Monday, reaching $22.43. 654,510 shares of the company were exchanged, compared to its average volume of 326,336. The firm has a market cap of $510.28 million, a price-to-earnings ratio of 27.02 and a beta of 0.82. The stock has a 50-day moving average of $26.42 and a 200 day moving average of $26.04. Tactile Systems Technology has a 12 month low of $8.61 and a 12 month high of $37.77.

Wall Street Analysts Forecast Growth

TCMD has been the topic of a number of research reports. Piper Sandler upped their price target on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Raymond James Financial set a $35.00 price target on Tactile Systems Technology in a research note on Monday, January 5th. BTIG Research boosted their price target on Tactile Systems Technology from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. B. Riley Financial boosted their price target on Tactile Systems Technology from $16.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.40.

Insiders Place Their Bets

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 10,993 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 243,885 shares of the company’s stock, valued at $7,058,031.90. This represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elaine M. Birkemeyer sold 7,701 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total value of $222,866.94. Following the sale, the chief financial officer directly owned 134,819 shares of the company’s stock, valued at $3,901,661.86. The trade was a 5.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 50,137 shares of company stock valued at $1,434,839 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tactile Systems Technology during the fourth quarter worth approximately $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Tactile Systems Technology during the fourth quarter worth approximately $36,000. Global Retirement Partners LLC acquired a new position in shares of Tactile Systems Technology during the fourth quarter worth approximately $37,000. Russell Investments Group Ltd. lifted its holdings in shares of Tactile Systems Technology by 1,594.4% during the third 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 during the last quarter. Finally, Quarry LP lifted its holdings in shares of Tactile Systems Technology by 302.6% during 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. 83.43% of the stock is currently owned by institutional investors and hedge funds.

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.