Tactile Systems Technology (NASDAQ:TCMD) Price Target Cut to $31.00 by Analysts at BTIG Research

Tactile Systems Technology (NASDAQ:TCMD) had its price objective decreased by analysts at BTIG Research from $35.00 to $31.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research‘s price target indicates a potential upside of 35.55% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings upgraded shares of Tactile Systems Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 13th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Tactile Systems Technology currently has an average rating of “Moderate Buy” and a consensus price target of $36.80.

Tactile Systems Technology Stock Performance

Tactile Systems Technology stock opened at $22.87 on Tuesday. The firm has a market cap of $518.01 million, a price-to-earnings ratio of 22.14 and a beta of 0.82. Tactile Systems Technology has a 1 year low of $15.32 and a 1 year high of $37.77. The firm’s 50 day moving average price is $22.72 and its two-hundred day moving average price is $25.91.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, November 2nd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. The company had revenue of $91.86 million during the quarter, compared to analysts’ expectations of $91.99 million. As a group, equities analysts predict that Tactile Systems Technology will post 1.10 EPS for the current fiscal year.

Insider Activity at Tactile Systems Technology

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Wyoming raised its position in shares of Tactile Systems Technology by 68.1% in the third quarter. State of Wyoming now owns 18,941 shares of the company’s stock valued at $422,000 after purchasing an additional 7,670 shares during the period. Inspire Investing LLC acquired a new stake in shares of Tactile Systems Technology during the 3rd quarter worth about $2,456,000. Pinnacle Associates Ltd. boosted its holdings in shares of Tactile Systems Technology by 0.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 327,967 shares of the company’s stock worth $7,310,000 after buying an additional 850 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Tactile Systems Technology by 18.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,113 shares of the company’s stock worth $158,000 after buying an additional 1,132 shares during the period. Finally, First Light Asset Management LLC bought a new stake in shares of Tactile Systems Technology during the 2nd quarter worth about $13,775,000. 83.43% of the stock is currently owned by institutional investors.

Key Headlines Impacting Tactile Systems Technology

Here are the key news stories impacting Tactile Systems Technology this week:

• Positive Sentiment: Third-quarter adjusted earnings were $0.31 per share, exceeding estimates ranging from $0.28 to $0.30. The earnings beat provides support for the stock, although profit declined from $0.36 per share a year earlier. Tactile Systems Technology Q3 earnings report
• Positive Sentiment: Lymphedema product revenue increased 13% year over year to $81.8 million, reinforcing the company’s core growth strategy. Management also highlighted technology improvements that cut medical-record review times by approximately 50%, potentially improving operating efficiency and patient access. Tactile Systems three key takeaways
• Neutral Sentiment: Quarterly revenue of $91.86 million was essentially in line with, but slightly below, the $91.99 million analyst consensus. Wall Street Zen’s rating upgrade may provide some incremental investor support, but it does not change the underlying earnings outlook. Wall Street Zen rating upgrade
• Negative Sentiment: Growth remains concentrated in lymphedema: the smaller airway-clearance business declined, while a deepening AffloVest inventory issue adds execution risk and could weigh on future sales and cash flow. Tactile Medical earnings and AffloVest inventory report
• Negative Sentiment: Higher sales and administrative expenses pushed operating income below the prior-year level, limiting the benefit of revenue growth and raising concerns about margin expansion. Tactile Medical spending and earnings reaction

About Tactile Systems Technology

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.