Q3 2023 Earnings Estimate for Tactile Systems Technology, Inc. Issued By William Blair (NASDAQ:TCMD)

Tactile Systems Technology, Inc. (NASDAQ:TCMDGet Rating) – Stock analysts at William Blair reduced their Q3 2023 earnings per share estimates for shares of Tactile Systems Technology in a research report issued on Tuesday, August 2nd. William Blair analyst M. Kaczor now forecasts that the company will earn $0.04 per share for the quarter, down from their prior estimate of $0.11. The consensus estimate for Tactile Systems Technology’s current full-year earnings is ($0.54) per share. William Blair also issued estimates for Tactile Systems Technology’s Q4 2023 earnings at $0.26 EPS.

Tactile Systems Technology (NASDAQ:TCMDGet Rating) last released its quarterly earnings results on Monday, May 2nd. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). The company had revenue of $47.98 million during the quarter, compared to analyst estimates of $44.91 million. Tactile Systems Technology had a negative net margin of 14.00% and a negative return on equity of 14.75%.

TCMD has been the topic of a number of other research reports. Piper Sandler cut their price target on shares of Tactile Systems Technology from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday. BTIG Research reduced their target price on Tactile Systems Technology from $29.00 to $27.00 and set a “buy” rating for the company in a report on Monday, July 18th. Finally, Oppenheimer lowered their price target on Tactile Systems Technology from $35.00 to $18.00 and set a “maintains” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.33.

Tactile Systems Technology Price Performance

TCMD stock opened at $9.10 on Wednesday. Tactile Systems Technology has a one year low of $6.28 and a one year high of $46.41. The firm has a 50-day moving average of $7.81 and a two-hundred day moving average of $13.56. The firm has a market capitalization of $181.44 million, a PE ratio of -5.83 and a beta of 1.50. The company has a current ratio of 2.56, a quick ratio of 2.08 and a debt-to-equity ratio of 0.42.

Hedge Funds Weigh In On Tactile Systems Technology

Several institutional investors and hedge funds have recently modified their holdings of TCMD. Yousif Capital Management LLC acquired a new stake in Tactile Systems Technology during the fourth quarter valued at $345,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Tactile Systems Technology by 21.1% during the 4th quarter. BNP Paribas Arbitrage SA now owns 26,412 shares of the company’s stock valued at $503,000 after buying an additional 4,607 shares during the last quarter. Champlain Investment Partners LLC grew its stake in shares of Tactile Systems Technology by 2.5% in the 4th quarter. Champlain Investment Partners LLC now owns 1,785,185 shares of the company’s stock valued at $33,972,000 after buying an additional 42,720 shares in the last quarter. SG Americas Securities LLC increased its holdings 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 worth $2,065,000 after buying an additional 84,652 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Tactile Systems Technology during the fourth quarter valued at approximately $706,000. 92.58% of the stock is currently 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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Earnings History and Estimates for Tactile Systems Technology (NASDAQ:TCMD)

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