Brokerages expect that Tactile Systems Technology, Inc. (NASDAQ:TCMD – Get Rating) will report sales of $44.91 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Tactile Systems Technology’s earnings, with the lowest sales estimate coming in at $44.30 million and the highest estimate coming in at $46.00 million. Tactile Systems Technology reported sales of $42.77 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5%. The company is expected to report its next quarterly earnings results after the market closes on Monday, January 1st.
On average, analysts expect that Tactile Systems Technology will report full-year sales of $236.85 million for the current fiscal year, with estimates ranging from $236.35 million to $237.40 million. For the next year, analysts anticipate that the company will post sales of $277.13 million, with estimates ranging from $265.10 million to $283.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Tactile Systems Technology.
Tactile Systems Technology (NASDAQ:TCMD – Get Rating) last announced its earnings results on Monday, February 21st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.44). Tactile Systems Technology had a negative return on equity of 7.31% and a negative net margin of 5.68%. During the same quarter last year, the business posted $0.61 EPS.
A number of equities analysts have weighed in on TCMD shares. StockNews.com started coverage on shares of Tactile Systems Technology in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research raised shares of Tactile Systems Technology from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 11th. BTIG Research cut their target price on shares of Tactile Systems Technology from $44.00 to $29.00 in a research note on Wednesday, February 23rd. TheStreet downgraded shares of Tactile Systems Technology from a “c-” rating to a “d” rating in a research note on Wednesday, February 23rd. Finally, Piper Sandler cut their target price on shares of Tactile Systems Technology from $40.00 to $28.00 in a research note on Wednesday, February 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $38.00.
NASDAQ TCMD traded up $0.23 during mid-day trading on Friday, reaching $19.53. 1,503 shares of the stock were exchanged, compared to its average volume of 241,585. Tactile Systems Technology has a 1-year low of $13.37 and a 1-year high of $61.13. The firm’s fifty day simple moving average is $18.02. The firm has a market capitalization of $389.15 million, a PE ratio of -32.17 and a beta of 1.37. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.29 and a quick ratio of 2.74.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new stake in Tactile Systems Technology during the 1st quarter valued at $25,000. Advisor Group Holdings Inc. grew its holdings in Tactile Systems Technology by 20.3% during the 3rd quarter. Advisor Group Holdings Inc. now owns 2,546 shares of the company’s stock worth $113,000 after acquiring an additional 429 shares in the last quarter. KBC Group NV grew its holdings in Tactile Systems Technology by 315.7% during the 3rd quarter. KBC Group NV now owns 2,939 shares of the company’s stock worth $131,000 after acquiring an additional 2,232 shares in the last quarter. Franklin Resources Inc. acquired a new position in Tactile Systems Technology during the 3rd quarter worth $203,000. Finally, Victory Capital Management Inc. acquired a new position in Tactile Systems Technology during the 3rd quarter worth $249,000. 98.59% of the stock is owned by institutional investors and hedge funds.
Tactile Systems Technology Company Profile (Get Rating)
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.
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