Tactile Systems Technology, Inc. (NASDAQ:TCMD) Stock Has Average Price Target of $37.60

Tactile Systems Technology, Inc. (NASDAQ:TCMD) has received an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $37.60.

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday. BTIG Research dropped their price objective on shares of Tactile Systems Technology from $39.00 to $35.00 and set a “buy” rating for the company in a report on Monday, October 12th. Finally, Weiss Ratings upgraded shares of Tactile Systems Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 13th.

Tactile Systems Technology Stock Performance

Shares of NASDAQ TCMD opened at $23.04 on Friday. The stock has a 50 day simple moving average of $22.74 and a 200-day simple moving average of $25.94. The company has a market cap of $521.90 million, a PE ratio of 21.33 and a beta of 0.82. Tactile Systems Technology has a 12-month low of $14.84 and a 12-month high of $37.77.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.20. Tactile Systems Technology had a return on equity of 11.49% and a net margin of 7.10%. The firm had revenue of $85.70 million for the quarter, compared to analysts’ expectations of $85.52 million. Sell-side analysts forecast that Tactile Systems Technology will post 1.10 earnings per share for the current fiscal year.

Insider Activity at Tactile Systems Technology

In other news, CEO Sheri Dodd sold 10,978 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the completion of the transaction, the chief executive officer directly owned 232,907 shares in the company, valued at $6,856,782.08. The trade was a 4.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tactile Systems Technology

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Tactile Systems Technology during the 2nd quarter worth $56,733,000. Renaissance Technologies LLC raised its stake in Tactile Systems Technology by 32.3% during the 1st quarter. Renaissance Technologies LLC now owns 510,897 shares of the company’s stock worth $13,350,000 after acquiring an additional 124,597 shares during the period. First Light Asset Management LLC purchased a new position in Tactile Systems Technology during the second quarter valued at approximately $13,775,000. Jupiter Topco LLC bought a new position in shares of Tactile Systems Technology in the second quarter worth approximately $11,831,000. Finally, Pinnacle Associates Ltd. increased its stake in shares of Tactile Systems Technology by 0.3% in the third quarter. Pinnacle Associates Ltd. now owns 327,967 shares of the company’s stock worth $7,310,000 after purchasing an additional 850 shares in the last quarter. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Company Profile

Tactile Systems Technology, doing business as Tactile Medical, develops and provides medical devices and services for people with chronic swelling and related conditions. The company focuses primarily on lymphedema and chronic venous insufficiency, conditions that can cause persistent fluid buildup in the limbs and trunk.

Its principal products include advanced pneumatic compression devices, such as the Flexitouch Plus system for the treatment of lymphedema and the Entre Plus system for home treatment of lymphedema and chronic venous insufficiency.