Tactile Systems Technology (NASDAQ:TCMD) Sets New 1-Year High – What’s Next?

by · The Markets Daily

Shares of Tactile Systems Technology, Inc. (NASDAQ:TCMDGet Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $31.38 and last traded at $30.56, with a volume of 317566 shares changing hands. The stock had previously closed at $30.02.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Piper Sandler set a $35.00 price target on shares of Tactile Systems Technology in a report on Monday, January 5th. Wall Street Zen upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Zacks Research lowered Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a report on Monday, December 29th. Finally, Raymond James Financial set a $35.00 target price on Tactile Systems Technology in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.75.

View Our Latest Research Report on Tactile Systems Technology

Tactile Systems Technology Trading Up 1.6%

The firm has a market cap of $681.47 million, a P/E ratio of 39.62 and a beta of 0.91. The business’s fifty day simple moving average is $27.93 and its 200-day simple moving average is $18.66.

Tactile Systems Technology (NASDAQ:TCMDGet Free Report) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.20. Tactile Systems Technology had a return on equity of 8.84% and a net margin of 5.83%.The firm had revenue of $85.76 million during the quarter, compared to analyst estimates of $79.31 million. As a group, research analysts expect that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Tactile Systems Technology

In related news, VP Kristie Burns sold 5,139 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $28.85, for a total value of $148,260.15. Following the sale, the vice president owned 72,401 shares in the company, valued at approximately $2,088,768.85. This trade represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.50% of the company’s stock.

Institutional Trading of Tactile Systems Technology

A number of large investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its position in shares of Tactile Systems Technology by 1,594.4% in the third quarter. Russell Investments Group Ltd. now owns 2,118 shares of the company’s stock worth $29,000 after purchasing an additional 1,993 shares during the last quarter. Quarry LP grew its stake in Tactile Systems Technology by 302.6% in the 3rd quarter. Quarry LP now owns 2,319 shares of the company’s stock worth $32,000 after buying an additional 1,743 shares in the last quarter. Aquatic Capital Management LLC bought a new position in shares of Tactile Systems Technology in the 3rd quarter worth $47,000. BNP Paribas Financial Markets increased its holdings in shares of Tactile Systems Technology by 95.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,526 shares of the company’s stock worth $63,000 after buying an additional 2,214 shares during the last quarter. Finally, Oxford Asset Management LLP purchased a new stake in shares of Tactile Systems Technology during the 2nd quarter valued at $124,000. Institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Company Profile

(Get Free Report)

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.

Read More