Tactile Systems Technology, Inc. (NASDAQ:TCMD) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) have been given a consensus rating of “Hold” by the five analysts that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $13.50.

TCMD has been the subject of a number of analyst reports. B. Riley upped their price objective on shares of Tactile Systems Technology from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Tuesday. Wall Street Zen lowered shares of Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Piper Sandler lowered shares of Tactile Systems Technology from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $14.00 in a report on Tuesday, May 6th. Finally, William Blair raised shares of Tactile Systems Technology to a “strong-buy” rating in a report on Tuesday.

Insider Buying and Selling

In other news, CFO Elaine M. Birkemeyer sold 2,921 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $9.94, for a total value of $29,034.74. Following the completion of the sale, the chief financial officer directly owned 99,111 shares of the company’s stock, valued at approximately $985,163.34. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William W. Burke sold 3,300 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $9.67, for a total value of $31,911.00. Following the sale, the director directly owned 48,520 shares of the company’s stock, valued at approximately $469,188.40. This represents a 6.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Tactile Systems Technology

Several hedge funds have recently modified their holdings of TCMD. GAMMA Investing LLC increased its position in shares of Tactile Systems Technology by 64,350.0% in the first quarter. GAMMA Investing LLC now owns 2,578 shares of the company’s stock valued at $34,000 after buying an additional 2,574 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Tactile Systems Technology in the first quarter valued at $1,160,000. Arrowstreet Capital Limited Partnership increased its position in shares of Tactile Systems Technology by 163.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 52,227 shares of the company’s stock valued at $895,000 after buying an additional 32,378 shares in the last quarter. Bank of America Corp DE increased its position in shares of Tactile Systems Technology by 67.5% in the fourth quarter. Bank of America Corp DE now owns 101,867 shares of the company’s stock valued at $1,745,000 after buying an additional 41,037 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Tactile Systems Technology in the fourth quarter valued at $2,793,000. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Price Performance

Shares of NASDAQ TCMD opened at $12.54 on Wednesday. The firm has a market cap of $291.56 million, a PE ratio of 20.23 and a beta of 0.96. The firm has a fifty day moving average of $10.12 and a 200 day moving average of $12.63. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.99 and a current ratio of 4.52. Tactile Systems Technology has a one year low of $8.61 and a one year high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, August 4th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.58%. The company had revenue of $78.91 million for the quarter, compared to analysts’ expectations of $73.93 million. As a group, research analysts predict that Tactile Systems Technology will post 0.7 EPS for the current fiscal year.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.