Tactile Systems Technology Inc (NASDAQ:TCMD) – Equities researchers at Piper Jaffray Companies lowered their Q4 2018 EPS estimates for Tactile Systems Technology in a research note issued to investors on Monday, November 5th. Piper Jaffray Companies analyst J. Mckim now expects that the company will earn $0.09 per share for the quarter, down from their previous estimate of $0.16. Piper Jaffray Companies has a “Overweight” rating and a $77.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Tactile Systems Technology’s Q2 2019 earnings at $0.10 EPS, Q3 2019 earnings at $0.11 EPS and FY2019 earnings at $0.35 EPS.
Several other research firms also recently commented on TCMD. BidaskClub upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 25th. Zacks Investment Research downgraded Tactile Systems Technology from a “strong-buy” rating to a “hold” rating in a research report on Saturday, October 27th. Canaccord Genuity restated a “buy” rating and set a $65.00 price objective (up from $60.00) on shares of Tactile Systems Technology in a research report on Tuesday, August 7th. Finally, TheStreet downgraded Tactile Systems Technology from a “c+” rating to a “d+” rating in a research report on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $67.33.
Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Monday, November 5th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.05 by $0.04. The firm had revenue of $36.30 million during the quarter, compared to the consensus estimate of $34.22 million. Tactile Systems Technology had a return on equity of 8.53% and a net margin of 4.92%. The business’s quarterly revenue was up 28.3% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share.
Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Tactile Systems Technology during the second quarter worth approximately $175,000. Piedmont Investment Advisors LLC acquired a new stake in Tactile Systems Technology during the second quarter worth approximately $182,000. First Mercantile Trust Co. grew its stake in Tactile Systems Technology by 57.1% during the third quarter. First Mercantile Trust Co. now owns 2,696 shares of the company’s stock worth $192,000 after purchasing an additional 980 shares during the period. Tealwood Asset Management Inc. acquired a new stake in Tactile Systems Technology during the second quarter worth approximately $208,000. Finally, Engineers Gate Manager LP acquired a new stake in Tactile Systems Technology during the second quarter worth approximately $208,000. Institutional investors own 93.97% of the company’s stock.
In other news, CEO Gerald R. Mattys sold 5,558 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $62.42, for a total transaction of $346,930.36. Following the completion of the transaction, the chief executive officer now directly owns 299,687 shares in the company, valued at $18,706,462.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert J. Folkes sold 2,482 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $57.95, for a total value of $143,831.90. Following the transaction, the chief operating officer now owns 120,718 shares of the company’s stock, valued at $6,995,608.10. The disclosure for this sale can be found here. Insiders have sold 101,234 shares of company stock valued at $6,538,983 over the last 90 days. 8.70% of the stock is owned by corporate insiders.
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 proprietary 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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