Tactile Systems Technology (NASDAQ:TCMD) Announces Quarterly Earnings Results

Tactile Systems Technology (NASDAQ:TCMD) posted its quarterly earnings data on Monday. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.09, Briefing.com reports. The firm had revenue of $45.20 million for the quarter, compared to the consensus estimate of $42.60 million. Tactile Systems Technology had a return on equity of 8.17% and a net margin of 5.27%. The business’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 EPS. Tactile Systems Technology updated its FY 2019 guidance to EPS.

Shares of TCMD traded up $0.54 during trading hours on Wednesday, reaching $49.84. The company’s stock had a trading volume of 106,802 shares, compared to its average volume of 129,369. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 146.57, a price-to-earnings-growth ratio of 5.24 and a beta of 1.98. Tactile Systems Technology has a 1-year low of $37.40 and a 1-year high of $76.63. The company has a current ratio of 4.96, a quick ratio of 4.30 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $55.07.

In related news, COO Robert J. Folkes sold 10,607 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $50.00, for a total value of $530,350.00. Following the transaction, the chief operating officer now owns 96,808 shares in the company, valued at $4,840,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin H. Roche sold 10,093 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $57.25, for a total value of $577,824.25. Following the completion of the transaction, the director now owns 55,311 shares in the company, valued at approximately $3,166,554.75. The disclosure for this sale can be found here. Insiders sold a total of 76,692 shares of company stock worth $4,105,684 in the last quarter. 6.50% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new position in Tactile Systems Technology in the first quarter worth approximately $25,000. TCI Wealth Advisors Inc. boosted its position in Tactile Systems Technology by 2,500.0% during the second quarter. TCI Wealth Advisors Inc. now owns 520 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares during the period. BerganKDV Wealth Management LLC bought a new stake in Tactile Systems Technology during the first quarter worth approximately $158,000. BNP Paribas Arbitrage SA boosted its position in Tactile Systems Technology by 73,060.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,658 shares of the company’s stock worth $193,000 after purchasing an additional 3,653 shares during the period. Finally, Bailard Inc. bought a new stake in Tactile Systems Technology during the second quarter worth approximately $239,000. Hedge funds and other institutional investors own 98.90% of the company’s stock.

Several research firms have issued reports on TCMD. Dougherty & Co began coverage on Tactile Systems Technology in a report on Thursday, June 13th. They set a “buy” rating and a $80.00 price objective on the stock. Piper Jaffray Companies upped their target price on Tactile Systems Technology to $84.00 and gave the company an “overweight” rating in a report on Monday, May 6th. BTIG Research upgraded Tactile Systems Technology from a “neutral” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Wednesday. Zacks Investment Research upgraded Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Saturday, May 11th. Finally, ValuEngine upgraded Tactile Systems Technology from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Tactile Systems Technology has an average rating of “Buy” and an average price target of $74.43.

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.

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Earnings History for Tactile Systems Technology (NASDAQ:TCMD)

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