Analysts expect that Tactile Systems Technology, Inc. (NASDAQ:TCMD) will announce $0.01 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Tactile Systems Technology’s earnings, with the lowest EPS estimate coming in at $0.00 and the highest estimate coming in at $0.02. Tactile Systems Technology reported earnings per share of $0.04 in the same quarter last year, which suggests a negative year-over-year growth rate of 75%. The company is scheduled to report its next earnings report after the market closes on Wednesday, September 6th.
On average, analysts expect that Tactile Systems Technology will report full year earnings of $0.14 per share for the current financial year, with EPS estimates ranging from $0.13 to $0.14. For the next financial year, analysts anticipate that the company will post earnings of $0.22 per share, with EPS estimates ranging from $0.19 to $0.24. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Tactile Systems Technology.
Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings data on Monday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.05. The company had revenue of $19.85 million for the quarter, compared to the consensus estimate of $16.17 million. Tactile Systems Technology had a net margin of 2.24% and a return on equity of 4.82%. The firm’s revenue was up 44.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.45) earnings per share.
Separately, Zacks Investment Research upgraded Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Saturday, May 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Tactile Systems Technology has an average rating of “Buy” and a consensus price target of $24.25.
Shares of Tactile Systems Technology (NASDAQ TCMD) traded down 1.81% during trading on Friday, reaching $28.77. 156,639 shares of the company’s stock traded hands. The stock has a market cap of $487.36 million and a P/E ratio of 259.19. The company has a 50 day moving average price of $25.23 and a 200-day moving average price of $19.34. Tactile Systems Technology has a one year low of $10.00 and a one year high of $30.20.
In other news, major shareholder Galen Partners V. Lp sold 325,000 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $21.25, for a total transaction of $6,906,250.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Robert J. Folkes sold 1,500 shares of the stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $17.59, for a total value of $26,385.00. Following the transaction, the chief operating officer now owns 125,167 shares in the company, valued at approximately $2,201,687.53. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,330,897 shares of company stock worth $32,821,740. Insiders own 49.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in TCMD. GSA Capital Partners LLP acquired a new position in shares of Tactile Systems Technology during the fourth quarter worth about $379,000. Rice Hall James & Associates LLC acquired a new position in shares of Tactile Systems Technology during the first quarter worth about $2,153,000. Murphy Pohlad Asset Management LLC acquired a new position in shares of Tactile Systems Technology during the first quarter worth about $340,000. Kalmar Investments Inc. DE acquired a new position in shares of Tactile Systems Technology during the first quarter worth about $1,141,000. Finally, Wells Fargo & Company MN raised its position in shares of Tactile Systems Technology by 1,896.9% in the first quarter. Wells Fargo & Company MN now owns 59,389 shares of the company’s stock worth $1,125,000 after buying an additional 56,415 shares during the period. Hedge funds and other institutional investors own 29.92% of the company’s stock.
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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