Tactile Systems Technology (NASDAQ:TCMD) Raised to “Buy” at B. Riley Financial

Tactile Systems Technology (NASDAQ:TCMD) was upgraded by research analysts at B. Riley Financial from a “neutral” rating to a “buy” rating in a research note issued on Thursday, MarketBeat reports. The brokerage presently has a $36.00 price target on the stock, up from their prior price target of $32.00. B. Riley Financial’s price objective would suggest a potential upside of 40.35% from the company’s previous close.

TCMD has been the subject of several other research reports. Lake Street Capital set a $40.00 price objective on shares of Tactile Systems Technology and gave the company a “buy” rating in a research note on Wednesday, February 18th. BTIG Research boosted their price objective on shares of Tactile Systems Technology from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Friday, March 27th. Finally, Piper Sandler boosted their price objective on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tactile Systems Technology currently has a consensus rating of “Moderate Buy” and an average target price of $38.60.

Tactile Systems Technology Trading Down 1.4%

Shares of NASDAQ:TCMD opened at $25.65 on Thursday. The company has a 50 day moving average of $26.21 and a 200 day moving average of $26.26. The stock has a market cap of $578.66 million, a P/E ratio of 29.15 and a beta of 0.82. Tactile Systems Technology has a 12 month low of $9.34 and a 12 month high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The firm had revenue of $75.27 million for the quarter, compared to analysts’ expectations of $70.57 million. Tactile Systems Technology had a net margin of 5.91% and a return on equity of 9.70%. On average, equities analysts forecast that Tactile Systems Technology will post 1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tactile Systems Technology news, CEO Sheri Louise Dodd sold 15,240 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $28.30, for a total value of $431,292.00. Following the completion of the transaction, the chief executive officer owned 254,878 shares of the company’s stock, valued at $7,213,047.40. The trade was a 5.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elaine M. Birkemeyer sold 7,701 shares of the business’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 $222,866.94. Following the completion of the transaction, the chief financial officer directly owned 134,819 shares of the company’s stock, valued at approximately $3,901,661.86. This represents a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 50,137 shares of company stock valued at $1,434,839 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Tactile Systems Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of TCMD. Next Century Growth Investors LLC purchased a new position in Tactile Systems Technology in the 4th quarter worth approximately $11,309,000. Marshall Wace LLP purchased a new position in Tactile Systems Technology in the 4th quarter worth approximately $7,700,000. Janus Henderson Group PLC bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth approximately $5,503,000. LSV Asset Management lifted its holdings in shares of Tactile Systems Technology by 119.8% in the 4th quarter. LSV Asset Management now owns 323,004 shares of the company’s stock worth $9,367,000 after acquiring an additional 176,059 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth approximately $4,895,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

About Tactile Systems Technology

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.