Tactile Systems Technology, Inc. (NASDAQ:TCMD – Free Report) – Stock analysts at William Blair issued their Q3 2023 earnings per share (EPS) estimates for shares of Tactile Systems Technology in a research report issued on Wednesday, September 6th. William Blair analyst M. Kaczor expects that the company will earn $0.03 per share for the quarter. The consensus estimate for Tactile Systems Technology’s current full-year earnings is $0.15 per share. William Blair also issued estimates for Tactile Systems Technology’s Q1 2024 earnings at ($0.21) EPS and Q2 2024 earnings at $0.08 EPS.
Several other analysts also recently issued reports on TCMD. StockNews.com upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. TheStreet upgraded Tactile Systems Technology from a “d+” rating to a “c-” rating in a report on Tuesday, May 23rd. Finally, Oppenheimer increased their price target on Tactile Systems Technology from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, August 8th.
Tactile Systems Technology Trading Down 1.0 %
Shares of TCMD stock traded down $0.18 on Friday, reaching $18.22. 11,439 shares of the stock were exchanged, compared to its average volume of 266,755. Tactile Systems Technology has a 1-year low of $6.52 and a 1-year high of $26.11. The stock has a market cap of $427.44 million, a P/E ratio of 613.33 and a beta of 1.20. The company has a quick ratio of 2.66, a current ratio of 3.08 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $21.17 and a two-hundred day moving average of $19.73.
Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) last released its quarterly earnings data on Monday, August 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $68.34 million during the quarter, compared to the consensus estimate of $65.48 million. Tactile Systems Technology had a return on equity of 5.89% and a net margin of 0.13%.
Hedge Funds Weigh In On Tactile Systems Technology
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCMD. Covestor Ltd bought a new position in shares of Tactile Systems Technology during the second quarter worth about $42,000. Altshuler Shaham Ltd bought a new position in shares of Tactile Systems Technology during the first quarter worth about $32,000. PNC Financial Services Group Inc. raised its stake in Tactile Systems Technology by 219.5% during the first quarter. PNC Financial Services Group Inc. now owns 2,016 shares of the company’s stock worth $40,000 after acquiring an additional 1,385 shares during the period. National Bank of Canada FI acquired a new stake in Tactile Systems Technology during the second quarter worth about $67,000. Finally, Lazard Asset Management LLC acquired a new stake in Tactile Systems Technology during the second quarter worth about $86,000. 85.97% of the stock is owned by hedge funds and other institutional investors.
About Tactile Systems Technology
Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema; Entre 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; Kylee, a mobile application to help patients learn about lymphedema, track their symptoms, treatment, and share their progress with their doctor; and AffloVest, a portable high frequency chest wall oscillation vest for the treatment of retained pulmonary secretions, such as bronchiectasis, cystic fibrosis, and various neuromuscular disorders.
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