Brokerages expect that Tactile Systems Technology Inc. (NASDAQ:TCMD) will announce $23.55 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Tactile Systems Technology’s earnings, with the highest sales estimate coming in at $23.60 million and the lowest estimate coming in at $23.50 million. Tactile Systems Technology reported sales of $19.85 million during the same quarter last year, which indicates a positive year over year growth rate of 18.6%. The firm is scheduled to issue its next earnings report after the market closes on Monday, May 7th.
According to Zacks, analysts expect that Tactile Systems Technology will report full year sales of $131.00 million for the current financial year, with estimates ranging from $130.50 million to $131.50 million. For the next fiscal year, analysts forecast that the firm will post sales of $156.85 million per share, with estimates ranging from $155.90 million to $157.80 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Tactile Systems Technology.
Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Monday, February 26th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. The company had revenue of $34.89 million during the quarter, compared to analyst estimates of $34.30 million. Tactile Systems Technology had a net margin of 5.36% and a return on equity of 6.09%.
A number of brokerages have commented on TCMD. BidaskClub upgraded shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, April 4th. Zacks Investment Research upgraded shares of Tactile Systems Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, March 14th. Northland Securities lowered shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 27th. Canaccord Genuity boosted their price target on shares of Tactile Systems Technology from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Piper Jaffray upgraded shares of Tactile Systems Technology to a “buy” rating and set a $36.00 price target for the company in a research note on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $36.90.
In other news, SVP Bryan Rishe sold 1,500 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $30.92, for a total value of $46,380.00. Following the completion of the sale, the senior vice president now owns 93,145 shares in the company, valued at approximately $2,880,043.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jordan Davis sold 75,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $33.50, for a total transaction of $2,512,500.00. Following the completion of the sale, the director now owns 5,006 shares of the company’s stock, valued at approximately $167,701. The disclosure for this sale can be found here. Insiders have sold a total of 267,760 shares of company stock valued at $8,514,226 in the last 90 days. 8.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. MetLife Investment Advisors LLC bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth $139,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth $158,000. Advisors Preferred LLC bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth $160,000. The Manufacturers Life Insurance Company grew its stake in shares of Tactile Systems Technology by 10,882.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,468 shares of the company’s stock worth $213,000 after acquiring an additional 7,400 shares in the last quarter. Finally, Rehmann Capital Advisory Group bought a new stake in shares of Tactile Systems Technology in the 4th quarter worth $218,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.
TCMD stock traded down $0.26 during midday trading on Monday, reaching $34.44. 101,159 shares of the company’s stock traded hands, compared to its average volume of 152,802. The firm has a market capitalization of $625.75, a PE ratio of 164.00, a price-to-earnings-growth ratio of 5.69 and a beta of 0.42. Tactile Systems Technology has a 52 week low of $16.90 and a 52 week high of $37.88.
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About Tactile Systems Technology
Tactile Systems Technology, Inc is a medical technology company that develops and provides medical devices for the treatment of chronic diseases at home. The Company is a manufacturer and distributor of the Flexitouch and Entre Systems, medical devices that help control symptoms of lymphedema, a chronic and progressive medical condition that is often an unintended consequence of cancer treatment, and the ACTitouch System, a medical device used to treat venous leg ulcers and chronic venous insufficiency.
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