Key Points
- CEO Sheri Louise Dodd conducted insider sales on Feb. 23–24, selling 15,240 shares at an average $28.30 and 10,993 shares at $28.94 (totaling roughly $749,429); after the Feb. 24 sale she owned 243,885 shares, a ~4.31% reduction in her stake.
- The company recently beat quarterly expectations—$0.46 EPS vs. $0.44 and $103.6M revenue vs. $93.8M—and several analysts have raised targets (Piper Sandler to $42), leaving a consensus rating of "Moderate Buy" with a $37.40 price target.
Tactile Systems Technology, Inc. (NASDAQ:TCMD - Get Free Report) VP Kristie Burns sold 6,246 shares of the firm's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $28.94, for a total value of $180,759.24. Following the completion of the transaction, the vice president directly owned 82,581 shares in the company, valued at $2,389,894.14. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Kristie Burns also recently made the following trade(s):
- On Monday, February 23rd, Kristie Burns sold 4,439 shares of Tactile Systems Technology stock. The stock was sold at an average price of $28.30, for a total value of $125,623.70.
- On Friday, January 2nd, Kristie Burns sold 5,139 shares of Tactile Systems Technology stock. The shares were sold at an average price of $28.85, for a total value of $148,260.15.
Tactile Systems Technology Stock Performance
Shares of NASDAQ:TCMD opened at $29.45 on Friday. The business's 50-day simple moving average is $29.10 and its 200 day simple moving average is $21.95. The company has a market cap of $660.83 million, a P/E ratio of 35.48 and a beta of 0.96. Tactile Systems Technology, Inc. has a one year low of $8.61 and a one year high of $37.77.
Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.26%. The company had revenue of $103.59 million during the quarter, compared to the consensus estimate of $93.80 million. Analysts predict that Tactile Systems Technology, Inc. will post 0.7 earnings per share for the current year.
Hedge Funds Weigh In On Tactile Systems Technology
Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its position in shares of Tactile Systems Technology by 248.3% during the 2nd quarter. Acadian Asset Management LLC now owns 683,662 shares of the company's stock worth $6,930,000 after purchasing an additional 487,392 shares during the period. Next Century Growth Investors LLC acquired a new position in Tactile Systems Technology during the 4th quarter valued at approximately $11,309,000. Marshall Wace LLP bought a new position in Tactile Systems Technology during the 4th quarter worth $7,700,000. Janus Henderson Group PLC acquired a new stake in Tactile Systems Technology in the fourth quarter worth $5,503,000. Finally, LSV Asset Management lifted its stake in Tactile Systems Technology by 119.8% in the fourth quarter. LSV Asset Management now owns 323,004 shares of the company's stock valued at $9,367,000 after buying an additional 176,059 shares during the last quarter. 83.43% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently commented on TCMD. B. Riley Financial boosted their price target on Tactile Systems Technology from $16.00 to $32.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 18th. Piper Sandler lifted 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, February 18th. Raymond James Financial set a $35.00 target price on Tactile Systems Technology in a research note on Monday, January 5th. Weiss Ratings reissued a "hold (c+)" rating on shares of Tactile Systems Technology in a research report on Monday, December 29th. Finally, Lake Street Capital set a $40.00 price target on shares of Tactile Systems Technology and gave the company a "buy" rating in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $37.40.
Check Out Our Latest Research Report on Tactile Systems Technology
About Tactile Systems Technology
(
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
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