Tactile Systems Technology (NASDAQ:TCMD) Announces Earnings Results

by · The Markets Daily

Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) announced its earnings results on Tuesday. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02, FiscalAI reports. The business had revenue of $103.59 million for the quarter, compared to analysts’ expectations of $93.80 million. Tactile Systems Technology had a return on equity of 8.84% and a net margin of 5.83%.

Tactile Systems Technology Stock Up 6.0%

NASDAQ TCMD traded up $1.60 during trading hours on Tuesday, reaching $28.05. The company’s stock had a trading volume of 609,650 shares, compared to its average volume of 299,995. Tactile Systems Technology has a 1 year low of $8.61 and a 1 year high of $31.38. The company has a market capitalization of $626.64 million, a price-to-earnings ratio of 36.43 and a beta of 0.96. The firm’s 50-day moving average price is $28.99 and its 200-day moving average price is $21.09.

Analysts Set New Price Targets

TCMD has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tactile Systems Technology in a research note on Monday, December 29th. 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. Raymond James Financial set a $35.00 price target on shares of Tactile Systems Technology in a research note on Monday, January 5th. Piper Sandler set a $35.00 price objective on Tactile Systems Technology in a research note on Monday, January 5th. Finally, 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 report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.75.

Read Our Latest Stock Report on TCMD

Insider Activity

In related news, VP Kristie Burns sold 5,139 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $28.85, for a total transaction of $148,260.15. Following the completion of the transaction, the vice president owned 72,401 shares in the company, valued at approximately $2,088,768.85. This represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by insiders.

Institutional Trading of Tactile Systems Technology

Several hedge funds have recently bought and sold shares of the stock. Paradigm Capital Management Inc. NY grew its position in shares of Tactile Systems Technology by 5.9% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,618,600 shares of the company’s stock valued at $16,413,000 after purchasing an additional 89,600 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Tactile Systems Technology by 2.9% in the third quarter. Vanguard Group Inc. now owns 1,574,972 shares of the company’s stock worth $21,798,000 after buying an additional 44,218 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Tactile Systems Technology by 2.1% during the third 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 during the last quarter. Federated Hermes Inc. grew 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 buying an additional 104,648 shares in the last quarter. Finally, Deutsche Bank AG grew 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 buying an additional 1,482 shares in the last quarter. Hedge funds and other 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.

Further Reading