Tactile Systems Technology, Inc. (NASDAQ:TCMD – Get 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
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
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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