Tactile Systems Technology, Inc. (NASDAQ:TCMD – Get Rating) – Equities research analysts at William Blair upped their FY2022 EPS estimates for shares of Tactile Systems Technology in a research report issued on Monday, November 7th. William Blair analyst M. Kaczor now anticipates that the company will post earnings of ($0.31) per share for the year, up from their prior estimate of ($0.51). The consensus estimate for Tactile Systems Technology’s current full-year earnings is ($0.57) per share. William Blair also issued estimates for Tactile Systems Technology’s Q4 2022 earnings at $0.15 EPS, Q1 2023 earnings at ($0.32) EPS, Q3 2023 earnings at $0.11 EPS, Q4 2023 earnings at $0.29 EPS and FY2023 earnings at $0.01 EPS.
A number of other research firms also recently weighed in on TCMD. StockNews.com upgraded shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a report on Tuesday. Oppenheimer reduced their target price on shares of Tactile Systems Technology from $35.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday, August 2nd. BTIG Research reduced their target price on shares of Tactile Systems Technology from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, July 18th. Finally, Piper Sandler reduced their target price 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, August 2nd. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $23.33.
Tactile Systems Technology Stock Performance
Tactile Systems Technology (NASDAQ:TCMD – Get Rating) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.20. The company had revenue of $65.26 million for the quarter, compared to the consensus estimate of $60.20 million. Tactile Systems Technology had a negative net margin of 12.78% and a negative return on equity of 12.57%.
Hedge Funds Weigh In On Tactile Systems Technology
Large investors have recently made changes to their positions in the company. HighMark Wealth Management LLC purchased a new position in shares of Tactile Systems Technology during the 2nd quarter worth about $29,000. PNC Financial Services Group Inc. boosted its stake in shares of Tactile Systems Technology by 219.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,016 shares of the company’s stock worth $40,000 after purchasing an additional 1,385 shares during the period. UBS Group AG boosted its stake in shares of Tactile Systems Technology by 25.1% during the 3rd quarter. UBS Group AG now owns 6,349 shares of the company’s stock worth $50,000 after purchasing an additional 1,274 shares during the period. Banque Cantonale Vaudoise boosted its stake in shares of Tactile Systems Technology by 75.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 7,000 shares of the company’s stock worth $51,000 after purchasing an additional 3,000 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Tactile Systems Technology by 537.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,202 shares of the company’s stock worth $66,000 after purchasing an additional 7,759 shares during the period. 84.98% of the stock is owned by hedge funds and other institutional investors.
About Tactile Systems Technology
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.
- Get a free copy of the StockNews.com research report on Tactile Systems Technology (TCMD)
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