Tactile Systems Technology (NASDAQ:TCMD) Earns Neutral Rating from Piper Sandler

Piper Sandler has reaffirmed a "neutral" rating for Tactile Systems Technology (NASDAQ:TCMD) and raised its target price from $14.00 to $20.00, indicating a potential downside of 9.09% from the stock's previous close. The stock recently traded at $22.00, up 39.5%. Analysts have mixed ratings, with one strong buy, one buy, and five holds. The company reported earnings of $0.36 per share, exceeding estimates, and had a revenue of $85.76 million for the quarter. Institutional investors hold 83.43% of the stock.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report)'s stock had its "neutral" rating restated by research analysts at Piper Sandler in a note issued to investors on Tuesday,Benzinga reports. They currently have a $20.00 price target on the stock, up from their previous price target of $14.00. Piper Sandler's price target suggests a potential downside of 9.09% from the stock's previous close.

3 Small Caps Drawing Insider and Institutional Support

Several other analysts also recently commented on TCMD. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tactile Systems Technology in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Tactile Systems Technology from a "buy" rating to a "strong-buy" rating in a report on Saturday. B. Riley restated a "neutral" rating and set a $13.00 target price (up from $12.00) on shares of Tactile Systems Technology in a report on Tuesday, August 5th. Lake Street Capital assumed coverage on shares of Tactile Systems Technology in a report on Friday, October 3rd. They set a "buy" rating and a $23.50 target price on the stock. Finally, William Blair upgraded shares of Tactile Systems Technology to a "strong-buy" rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $18.83.

Read Our Latest Research Report on TCMD

Tactile Systems Technology Trading Up 39.5%

The Future of Medical Devices: Two Strong Buys You Can't Miss

NASDAQ:TCMD traded up $6.23 during mid-day trading on Tuesday, hitting $22.00. The company had a trading volume of 2,165,344 shares, compared to its average volume of 265,911. Tactile Systems Technology has a fifty-two week low of $8.61 and a fifty-two week high of $23.84. The business's fifty day moving average is $14.18 and its two-hundred day moving average is $12.09. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 3.79. The firm has a market cap of $490.40 million, a P/E ratio of 35.85 and a beta of 1.04.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.20. Tactile Systems Technology had a net margin of 5.06% and a return on equity of 7.72%. The business had revenue of $85.76 million for the quarter, compared to the consensus estimate of $79.31 million. Tactile Systems Technology has set its FY 2025 guidance at EPS. As a group, research analysts expect that Tactile Systems Technology will post 0.7 earnings per share for the current year.

Insider Activity

In related news, CEO Sheri Louise Dodd sold 7,762 shares of Tactile Systems Technology stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $12.36, for a total value of $95,938.32. Following the sale, the chief executive officer owned 173,479 shares of the company's stock, valued at approximately $2,144,200.44. The trade was a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On Tactile Systems Technology

Institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Tactile Systems Technology during the 1st quarter worth about $534,000. Victory Capital Management Inc. acquired a new position in Tactile Systems Technology during the first quarter worth approximately $1,160,000. Acadian Asset Management LLC increased its position in Tactile Systems Technology by 149.1% during the first quarter. Acadian Asset Management LLC now owns 196,270 shares of the company's stock worth $2,594,000 after buying an additional 117,480 shares during the last quarter. Punch & Associates Investment Management Inc. increased its position in Tactile Systems Technology by 34.3% during the first quarter. Punch & Associates Investment Management Inc. now owns 282,000 shares of the company's stock worth $3,728,000 after buying an additional 72,000 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its position in Tactile Systems Technology by 5.5% during the second quarter. Pinnacle Associates Ltd. now owns 340,374 shares of the company's stock worth $3,451,000 after buying an additional 17,850 shares during the last quarter. 83.43% of the stock is currently owned by institutional investors and hedge funds.

About Tactile Systems Technology

(Get Free Report)

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.

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