Tactile Systems Technology (NASDAQ:TCMD) Shares Down 5.6% – What’s Next?

Tactile Systems Technology, Inc. (NASDAQ:TCMD)’s share price dropped 5.6% during mid-day trading on Thursday . The stock traded as low as $24.53 and last traded at $24.5160. Approximately 71,830 shares were traded during trading, a decline of 79% from the average daily volume of 340,752 shares. The stock had previously closed at $25.97.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TCMD shares. B. Riley Financial raised their price objective on Tactile Systems Technology from $16.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Raymond James Financial set a $35.00 target price on shares of Tactile Systems Technology in a report on Monday, January 5th. Piper Sandler boosted their price target on shares of Tactile Systems Technology from $35.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Zacks Research downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.40.

Tactile Systems Technology Stock Performance

The stock’s fifty day moving average is $27.86 and its two-hundred day moving average is $24.53. The company has a market capitalization of $559.65 million, a PE ratio of 29.64 and a beta of 0.99.

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

Insider Buying and Selling

In related news, CFO Elaine M. Birkemeyer sold 7,701 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total value of $222,866.94. Following the transaction, the chief financial officer owned 134,819 shares in the company, valued at approximately $3,901,661.86. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sheri Louise Dodd sold 10,993 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $28.94, for a total value of $318,137.42. Following the completion of the sale, the chief executive officer directly owned 243,885 shares of the company’s stock, valued at $7,058,031.90. This represents a 4.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 50,137 shares of company stock valued at $1,434,839. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tactile Systems Technology

Several institutional investors have recently added to or reduced their stakes in TCMD. Vanguard Group Inc. raised its position in shares of Tactile Systems Technology by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 1,651,170 shares of the company’s stock valued at $47,884,000 after purchasing an additional 76,198 shares during the period. Paradigm Capital Management Inc. NY boosted its holdings in Tactile Systems Technology by 5.9% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock worth $16,413,000 after buying an additional 89,600 shares during the period. Dimensional Fund Advisors LP grew its stake in Tactile Systems Technology by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,191,207 shares of the company’s stock valued at $16,486,000 after buying an additional 24,001 shares in the last quarter. Federated Hermes Inc. raised its holdings in Tactile Systems Technology by 19.4% during the 4th quarter. Federated Hermes Inc. now owns 645,408 shares of the company’s stock valued at $18,717,000 after acquiring an additional 104,648 shares during the period. Finally, Deutsche Bank AG raised its holdings in Tactile Systems Technology by 0.3% during the 4th quarter. Deutsche Bank AG now owns 578,669 shares of the company’s stock valued at $16,781,000 after acquiring an additional 1,482 shares during the period. 83.43% of the stock is owned by hedge funds and other institutional investors.

Tactile Systems Technology Company Profile

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.