Tactile Systems Technology (NASDAQ:TCMD) Trading Down 9.6% – What’s Next?

Tactile Systems Technology, Inc. (NASDAQ:TCMD) traded down 9.6% on Thursday . The stock traded as low as $29.66 and last traded at $29.8760. 193,666 shares traded hands during trading, a decline of 43% from the average session volume of 341,980 shares. The stock had previously closed at $33.05.

Analysts Set New Price Targets

Several research firms recently issued reports on TCMD. B. Riley Financial raised their target price on shares of Tactile Systems Technology from $16.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday. Lake Street Capital set a $40.00 target price on Tactile Systems Technology and gave the company a “buy” rating in a report on Wednesday. Piper Sandler raised their price objective on Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday. Zacks Research lowered shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.40.

Tactile Systems Technology Stock Up 1.7%

The company has a market capitalization of $644.45 million, a price-to-earnings ratio of 34.60 and a beta of 0.96. The firm has a 50 day moving average price of $29.09 and a two-hundred day moving average price of $21.48.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Tuesday, February 17th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $103.59 million during the quarter, compared to the consensus estimate of $93.80 million. Tactile Systems Technology had a return on equity of 9.26% and a net margin of 5.79%. Analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In other Tactile Systems Technology news, VP Kristie Burns sold 5,139 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $28.85, for a total transaction of $148,260.15. Following the transaction, the vice president owned 72,401 shares of the company’s stock, valued at $2,088,768.85. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in shares of Tactile Systems Technology by 2.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 186,936 shares of the company’s stock valued at $2,471,000 after buying an additional 3,898 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Tactile Systems Technology in the 2nd quarter worth approximately $497,000. Pinnacle Associates Ltd. grew its stake in Tactile Systems Technology by 5.5% during the 2nd quarter. Pinnacle Associates Ltd. now owns 340,374 shares of the company’s stock worth $3,451,000 after buying an additional 17,850 shares during the last quarter. Acadian Asset Management LLC increased its position in Tactile Systems Technology by 248.3% in the second quarter. Acadian Asset Management LLC now owns 683,662 shares of the company’s stock worth $6,930,000 after buying an additional 487,392 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC bought a new stake in Tactile Systems Technology in the second quarter valued at $134,000. 83.43% of the stock is currently owned by institutional investors.

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.