Tactile Systems Technology (NASDAQ:TCMD) Given New $25.00 Price Target at Piper Sandler

Tactile Systems Technology (NASDAQ:TCMDGet Rating) had its price objective decreased by Piper Sandler from $28.00 to $25.00 in a research report released on Tuesday morning, The Fly reports. Piper Sandler currently has an overweight rating on the stock.

Separately, BTIG Research cut their target price on Tactile Systems Technology from $29.00 to $27.00 and set a buy rating on the stock in a research report on Monday, July 18th. One analyst has rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $23.33.

Tactile Systems Technology Price Performance

TCMD stock opened at $9.16 on Tuesday. Tactile Systems Technology has a 52-week low of $6.28 and a 52-week high of $49.96. The stock’s fifty day simple moving average is $7.80 and its 200-day simple moving average is $13.59. The company has a quick ratio of 2.08, a current ratio of 2.56 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $182.65 million, a price-to-earnings ratio of -7.27 and a beta of 1.50.

Tactile Systems Technology (NASDAQ:TCMDGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.11). Tactile Systems Technology had a negative return on equity of 12.31% and a negative net margin of 11.78%. The business had revenue of $47.98 million for the quarter, compared to analyst estimates of $44.91 million. Equities research analysts expect that Tactile Systems Technology will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Yousif Capital Management LLC purchased a new position in Tactile Systems Technology in the fourth quarter valued at about $345,000. BNP Paribas Arbitrage SA raised its position in Tactile Systems Technology by 21.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 26,412 shares of the company’s stock valued at $503,000 after purchasing an additional 4,607 shares during the period. Champlain Investment Partners LLC raised its position in Tactile Systems Technology by 2.5% in the fourth quarter. Champlain Investment Partners LLC now owns 1,785,185 shares of the company’s stock valued at $33,972,000 after purchasing an additional 42,720 shares during the period. SG Americas Securities LLC raised its position in Tactile Systems Technology by 355.1% in the fourth quarter. SG Americas Securities LLC now owns 108,492 shares of the company’s stock valued at $2,065,000 after purchasing an additional 84,652 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Tactile Systems Technology in the fourth quarter valued at about $706,000. 92.58% of the stock is owned by hedge funds and other institutional investors.

About Tactile Systems Technology

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Tactile Systems Technology, Inc, a medical technology company, engages in the development and provision of medical devices for chronic diseases in the United States. The company offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema; Entre system, a portable pneumatic compression device that is used for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers; and AffloVest, a portable high frequency chest wall oscillation test for the treatment of retained pulmonary secretions such as bronchiectasis, cystic fibrosis, and various neuromuscular disorders.

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