Q2 2024 EPS Estimates for Tactile Systems Technology, Inc. Reduced by William Blair (NASDAQ:TCMD)

Tactile Systems Technology, Inc. (NASDAQ:TCMD) – Equities researchers at William Blair decreased their Q2 2024 EPS estimates for Tactile Systems Technology in a research report issued to clients and investors on Tuesday, May 7th. William Blair analyst M. Kaczor now anticipates that the company will post earnings per share of $0.06 for the quarter, down from their prior estimate of $0.07. The consensus estimate for Tactile Systems Technology’s current full-year earnings is $0.56 per share. William Blair also issued estimates for Tactile Systems Technology’s Q3 2024 earnings at $0.19 EPS, Q4 2024 earnings at $0.36 EPS, Q2 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.22 EPS and Q4 2025 earnings at $0.40 EPS.

Separately, StockNews.com upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday.

Tactile Systems Technology Price Performance

Tactile Systems Technology stock opened at $14.05 on Wednesday. The stock has a market cap of $333.81 million, a price-to-earnings ratio of 11.71 and a beta of 1.23. The company has a quick ratio of 2.99, a current ratio of 3.54 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $15.19 and a 200 day simple moving average of $14.19. Tactile Systems Technology has a 52 week low of $9.69 and a 52 week high of $26.11.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.13 by $0.25. The firm had revenue of $77.65 million during the quarter, compared to the consensus estimate of $78.85 million. Tactile Systems Technology had a net margin of 10.39% and a return on equity of 17.08%. During the same period last year, the firm earned $0.29 EPS.

Insider Activity at Tactile Systems Technology

In other Tactile Systems Technology news, VP Kristie Burns sold 2,015 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.90, for a total transaction of $32,038.50. Following the transaction, the vice president now directly owns 63,512 shares of the company’s stock, valued at $1,009,840.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Daniel L. Reuvers sold 6,239 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $15.81, for a total transaction of $98,638.59. Following the completion of the sale, the chief executive officer now owns 244,112 shares of the company’s stock, valued at $3,859,410.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Kristie Burns sold 2,015 shares of Tactile Systems Technology stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.90, for a total transaction of $32,038.50. Following the completion of the transaction, the vice president now directly owns 63,512 shares in the company, valued at $1,009,840.80. The disclosure for this sale can be found here. Insiders have sold a total of 18,335 shares of company stock valued at $280,532 over the last 90 days. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Tactile Systems Technology

A number of large investors have recently made changes to their positions in TCMD. Cadian Capital Management LP bought a new position in shares of Tactile Systems Technology in the 4th quarter worth approximately $24,954,000. First Light Asset Management LLC raised its holdings in Tactile Systems Technology by 38.1% in the fourth quarter. First Light Asset Management LLC now owns 2,859,954 shares of the company’s stock worth $40,897,000 after purchasing an additional 788,535 shares in the last quarter. Wasatch Advisors LP purchased a new stake in shares of Tactile Systems Technology in the 1st quarter worth about $8,687,000. FMR LLC increased its stake in shares of Tactile Systems Technology by 62.1% in the 3rd quarter. FMR LLC now owns 579,392 shares of the company’s stock worth $8,140,000 after acquiring an additional 222,012 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Tactile Systems Technology by 2,388.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 150,387 shares of the company’s stock valued at $2,113,000 after acquiring an additional 144,343 shares during the period. 83.43% of the stock is currently owned by institutional investors.

About Tactile Systems Technology

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.