FY2022 Earnings Forecast for Tactile Systems Technology, Inc. (NASDAQ:TCMD) Issued By Oppenheimer

Tactile Systems Technology, Inc. (NASDAQ:TCMDGet Rating) – Research analysts at Oppenheimer lifted their FY2022 EPS estimates for Tactile Systems Technology in a research report issued to clients and investors on Tuesday, August 2nd. Oppenheimer analyst S. Kalia now forecasts that the company will post earnings per share of ($0.75) for the year, up from their previous estimate of ($0.80). Oppenheimer has a “Outperform” rating and a $18.00 price objective on the stock. The consensus estimate for Tactile Systems Technology’s current full-year earnings is ($0.57) per share. Oppenheimer also issued estimates for Tactile Systems Technology’s Q1 2023 earnings at ($0.08) EPS, Q2 2023 earnings at ($0.04) EPS and FY2023 earnings at ($0.04) EPS.

TCMD has been the topic of a number of other research reports. Piper Sandler dropped their price target on Tactile Systems Technology from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday. BTIG Research reduced their price target on shares of Tactile Systems Technology from $29.00 to $27.00 and set a “buy” rating for the company in a report on Monday, July 18th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Tactile Systems Technology presently has a consensus rating of “Moderate Buy” and an average target price of $23.33.

Tactile Systems Technology Stock Performance

Shares of Tactile Systems Technology stock opened at $8.91 on Thursday. Tactile Systems Technology has a 12 month low of $6.28 and a 12 month high of $46.41. The company has a current ratio of 2.30, a quick ratio of 2.08 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $177.66 million, a PE ratio of -5.71 and a beta of 1.50. The stock’s fifty day simple moving average is $7.79 and its 200 day simple moving average is $13.44.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Tactile Systems Technology by 0.8% in the first quarter. BlackRock Inc. now owns 3,764,795 shares of the company’s stock valued at $75,899,000 after purchasing an additional 29,898 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Tactile Systems Technology by 2.5% during the 4th quarter. Champlain Investment Partners LLC now owns 1,785,185 shares of the company’s stock worth $33,972,000 after acquiring an additional 42,720 shares during the period. Geneva Capital Management LLC increased its holdings in shares of Tactile Systems Technology by 4.6% during the 1st quarter. Geneva Capital Management LLC now owns 1,388,905 shares of the company’s stock worth $28,000,000 after acquiring an additional 61,423 shares during the last quarter. Vanguard Group Inc. raised its stake in Tactile Systems Technology by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 1,339,530 shares of the company’s stock valued at $27,005,000 after acquiring an additional 119,456 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Tactile Systems Technology by 17.5% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 443,405 shares of the company’s stock valued at $8,939,000 after purchasing an additional 65,930 shares during the last quarter. Institutional investors own 92.58% of the company’s stock.

About Tactile Systems Technology

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Tactile Systems Technology, Inc, a medical technology company, engages in the development and provision of medical devices for chronic diseases in the United States. The company offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema; Entre system, a portable pneumatic compression device that is used for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers; and AffloVest, a portable high frequency chest wall oscillation test for the treatment of retained pulmonary secretions such as bronchiectasis, cystic fibrosis, and various neuromuscular disorders.

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Earnings History and Estimates for Tactile Systems Technology (NASDAQ:TCMD)

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