Brokerages predict that Tactile Systems Technology Inc (NASDAQ:TCMD) will report sales of $47.34 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Tactile Systems Technology’s earnings, with the lowest sales estimate coming in at $46.80 million and the highest estimate coming in at $48.12 million. Tactile Systems Technology reported sales of $49.61 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.6%. The business is scheduled to issue its next earnings report on Monday, November 2nd.
According to Zacks, analysts expect that Tactile Systems Technology will report full year sales of $186.88 million for the current fiscal year, with estimates ranging from $184.80 million to $189.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $243.13 million, with estimates ranging from $235.60 million to $254.98 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Tactile Systems Technology.
A number of equities research analysts have recently issued reports on TCMD shares. ValuEngine raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a research note on Thursday, July 2nd. Zacks Investment Research cut shares of Tactile Systems Technology from a “hold” rating to a “sell” rating in a research note on Thursday, August 6th. BidaskClub raised shares of Tactile Systems Technology from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 30th. Canaccord Genuity reissued a “buy” rating and set a $62.00 price target on shares of Tactile Systems Technology in a research report on Tuesday, August 4th. Finally, Oppenheimer initiated coverage on shares of Tactile Systems Technology in a research report on Monday, August 3rd. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $67.20.
Shares of Tactile Systems Technology stock traded down $0.42 during trading on Thursday, reaching $35.77. The company’s stock had a trading volume of 241,292 shares, compared to its average volume of 259,681. Tactile Systems Technology has a 52-week low of $29.47 and a 52-week high of $71.65. The company has a market cap of $694.40 million, a price-to-earnings ratio of -79.49 and a beta of 1.74. The firm’s 50-day moving average is $37.55 and its two-hundred day moving average is $43.80.
In other Tactile Systems Technology news, SVP Bryan Rishe sold 2,331 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $40.66, for a total value of $94,778.46. Following the completion of the transaction, the senior vice president now directly owns 38,906 shares in the company, valued at approximately $1,581,917.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace North America L.P. bought a new position in shares of Tactile Systems Technology in the 1st quarter worth about $25,000. Texas Permanent School Fund increased its stake in shares of Tactile Systems Technology by 23.9% in the 1st quarter. Texas Permanent School Fund now owns 16,130 shares of the company’s stock worth $648,000 after acquiring an additional 3,115 shares in the last quarter. Comerica Bank increased its stake in shares of Tactile Systems Technology by 4.0% in the 1st quarter. Comerica Bank now owns 18,514 shares of the company’s stock worth $976,000 after acquiring an additional 713 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Tactile Systems Technology by 251.6% in the 1st quarter. SG Americas Securities LLC now owns 25,603 shares of the company’s stock worth $1,028,000 after acquiring an additional 18,321 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in shares of Tactile Systems Technology by 5.8% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 201,135 shares of the company’s stock worth $8,078,000 after acquiring an additional 11,000 shares in the last quarter.
Tactile Systems Technology Company Profile
Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices for the treatment of chronic diseases in the United States. The company offers Flexitouch system, an at-home solution for lymphedema patients; and ACTitouch system, a home-based solution for chronic venous insufficiency patients.
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