Tactile Systems Technology (NASDAQ:TCMD) Sets New 12-Month High – Still a Buy?

Tactile Systems Technology, Inc. (NASDAQ:TCMD) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $29.58 and last traded at $29.3650, with a volume of 63637 shares changing hands. The stock had previously closed at $28.95.

Analyst Ratings Changes

Several analysts have recently commented on the company. Lake Street Capital raised their target price on Tactile Systems Technology from $23.50 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Piper Sandler reaffirmed a “neutral” rating and set a $20.00 target price (up previously from $14.00) on shares of Tactile Systems Technology in a research note on Tuesday, November 4th. Zacks Research raised shares of Tactile Systems Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Tactile Systems Technology Trading Up 1.8%

The firm has a market capitalization of $658.36 million, a price-to-earnings ratio of 38.27 and a beta of 0.93. The company has a fifty day moving average price of $21.61 and a 200-day moving average price of $15.21.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.20. The firm had revenue of $85.76 million for the quarter, compared to analyst estimates of $79.31 million. Tactile Systems Technology had a net margin of 5.83% and a return on equity of 8.84%. As a group, sell-side analysts predict that Tactile Systems Technology, Inc. will post 0.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Tactile Systems Technology

A number of large investors have recently bought and sold shares of the business. Cambria Investment Management L.P. bought a new position in Tactile Systems Technology during the third quarter valued at about $150,000. PharVision Advisers LLC acquired a new position in shares of Tactile Systems Technology during the 3rd quarter valued at about $177,000. Quarry LP raised its stake in shares of Tactile Systems Technology by 302.6% in the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock valued at $32,000 after acquiring an additional 1,743 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Tactile Systems Technology in the 3rd quarter worth approximately $144,000. Finally, Bank of America Corp DE boosted its position in Tactile Systems Technology by 41.3% during the third quarter. Bank of America Corp DE now owns 45,560 shares of the company’s stock worth $631,000 after purchasing an additional 13,311 shares during the period. 83.43% of the stock is currently owned by institutional investors.

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.