Wall Street brokerages expect Tactile Systems Technology Inc (NASDAQ:TCMD) to post earnings per share (EPS) of ($0.07) for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Tactile Systems Technology’s earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at ($0.25). Tactile Systems Technology posted earnings per share of $0.12 during the same quarter last year, which would indicate a negative year-over-year growth rate of 158.3%. The company is scheduled to announce its next quarterly earnings results on Monday, November 2nd.
According to Zacks, analysts expect that Tactile Systems Technology will report full-year earnings of ($0.66) per share for the current financial year, with EPS estimates ranging from ($0.80) to ($0.39). For the next financial year, analysts expect that the company will post earnings of $0.34 per share, with EPS estimates ranging from $0.02 to $0.81. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Tactile Systems Technology.
Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Tactile Systems Technology from a “hold” rating to a “sell” rating in a research report on Thursday, August 6th. ValuEngine raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a research report on Thursday, July 2nd. BidaskClub raised shares of Tactile Systems Technology from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 30th. TheStreet downgraded shares of Tactile Systems Technology from a “c” rating to a “d+” rating in a research report on Monday, August 3rd. Finally, Canaccord Genuity restated a “buy” rating and set a $62.00 price target on shares of Tactile Systems Technology in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Tactile Systems Technology presently has an average rating of “Hold” and an average target price of $67.20.
Shares of NASDAQ:TCMD traded down $0.42 during midday trading on Tuesday, hitting $35.77. 241,292 shares of the company’s stock were exchanged, compared to its average volume of 259,681. The stock has a 50 day moving average price of $37.55 and a 200-day moving average price of $43.80. The company has a market cap of $694.40 million, a PE ratio of -79.49 and a beta of 1.74. Tactile Systems Technology has a 12 month low of $29.47 and a 12 month high of $71.65.
In related news, SVP Bryan Rishe sold 2,331 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $40.66, for a total transaction of $94,778.46. Following the transaction, the senior vice president now directly owns 38,906 shares in the company, valued at $1,581,917.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.30% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fred Alger Management LLC increased its position in Tactile Systems Technology by 1.2% during the first quarter. Fred Alger Management LLC now owns 1,868,684 shares of the company’s stock worth $75,046,000 after buying an additional 22,138 shares during the period. Waddell & Reed Financial Inc. increased its holdings in Tactile Systems Technology by 6.2% in the first quarter. Waddell & Reed Financial Inc. now owns 1,372,364 shares of the company’s stock valued at $55,114,000 after purchasing an additional 80,159 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Tactile Systems Technology by 113.1% in the second quarter. Thrivent Financial for Lutherans now owns 806,565 shares of the company’s stock valued at $33,416,000 after buying an additional 428,087 shares during the period. State Street Corp boosted its holdings in Tactile Systems Technology by 3.3% during the first quarter. State Street Corp now owns 693,031 shares of the company’s stock worth $27,832,000 after buying an additional 22,462 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its holdings in Tactile Systems Technology by 22.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 389,159 shares of the company’s stock worth $15,629,000 after buying an additional 71,246 shares during 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.
Featured Article: What is the Beige Book?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tactile Systems Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tactile Systems Technology and related companies with MarketBeat.com's FREE daily email newsletter.