Tactile Systems Technology (TCMD) Announces Earnings Results, Beats Expectations By $0.20 EPS

Finally, WINTON GROUP Ltd boosted its position in shares of Tactile Systems Technology by 63.4% during the 4th quarter. WINTON GROUP Ltd now …

Tactile Systems Technology logoTactile Systems Technology (NASDAQ:TCMD) posted its quarterly earnings data on Monday. The company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.20, Briefing.com reports. The business had revenue of $37.60 million during the quarter, compared to the consensus estimate of $33.30 million. Tactile Systems Technology had a return on equity of 6.77% and a net margin of 4.61%. Tactile Systems Technology’s revenue was up 40.3% compared to the same quarter last year.

Tactile Systems Technology stock traded down $0.37 during trading hours on Tuesday, reaching $55.22. 230,796 shares of the company’s stock were exchanged, compared to its average volume of 238,480. Tactile Systems Technology has a twelve month low of $35.95 and a twelve month high of $76.63. The company has a market cap of $1.00 billion, a P/E ratio of 162.41, a PEG ratio of 8.09 and a beta of 2.08.

In other news, SVP Bryan Rishe sold 3,000 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $69.44, for a total transaction of $208,320.00. Following the transaction, the senior vice president now owns 54,143 shares of the company’s stock, valued at approximately $3,759,689.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert J. Folkes sold 2,500 shares of the stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $68.61, for a total transaction of $171,525.00. Following the transaction, the chief operating officer now directly owns 110,270 shares in the company, valued at approximately $7,565,624.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,346 shares of company stock valued at $7,512,233. Company insiders own 6.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC boosted its position in shares of Tactile Systems Technology by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 12,782 shares of the company’s stock worth $908,000 after purchasing an additional 4,544 shares in the last quarter. Weiss Multi Strategy Advisers LLC boosted its position in shares of Tactile Systems Technology by 9.0% during the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 11,000 shares of the company’s stock worth $501,000 after purchasing an additional 904 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Tactile Systems Technology by 6.8% during the 3rd quarter. Vanguard Group Inc now owns 1,010,783 shares of the company’s stock worth $71,816,000 after purchasing an additional 63,944 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Tactile Systems Technology by 20.5% during the 3rd quarter. Legal & General Group Plc now owns 35,879 shares of the company’s stock worth $2,533,000 after purchasing an additional 6,113 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its position in shares of Tactile Systems Technology by 63.4% during the 4th quarter. WINTON GROUP Ltd now owns 7,953 shares of the company’s stock worth $362,000 after purchasing an additional 3,087 shares in the last quarter. 96.89% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on TCMD shares. BidaskClub upgraded Tactile Systems Technology from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Investment Research downgraded Tactile Systems Technology from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. ValuEngine upgraded Tactile Systems Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 9th. Piper Jaffray Companies increased their price target on Tactile Systems Technology to $80.00 and gave the stock a “positive” rating in a report on Monday, January 7th. Finally, Northland Securities reiterated a “hold” rating and set a $38.00 price target on shares of Tactile Systems Technology in a report on Friday, January 11th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $79.20.

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About Tactile Systems Technology

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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Tactile Systems Technology (TCMD) Receives “Hold” Rating from Northland Securities

A number of other equities analysts have also issued reports on the stock. Zacks Investment Research raised shares of Tactile Systems Technology …

Tactile Systems Technology Inc logoNorthland Securities restated their hold rating on shares of Tactile Systems Technology (NASDAQ:TCMD) in a report released on Friday. They currently have a $38.00 price objective on the stock.

“We await further details on the quarterly call, and will adjust our ratings / PT accordingly. Key Points Here are the key things we look forward to gleaning from the quarterly call: What was the contribution from the large contracted payor signed up earlier? Were there any pull-forward” sales? Were there any bulk purchases from any segment, including the VA? How did OpEx stack up in the quarter? How does Q4 growth reconcile with implied guidance in company commentary from the Q3-18 call? We have accordingly tweaked our FY19 and FY20 numbers. For the time being, we maintain our rating & PT. Once we have a better understanding of the stability of Q4 growth drivers, we will accordingly make changes.”,” the firm’s analyst commented.

A number of other equities analysts have also issued reports on the stock. Zacks Investment Research raised shares of Tactile Systems Technology from a hold rating to a strong-buy rating and set a $69.00 target price on the stock in a research report on Friday. BidaskClub lowered shares of Tactile Systems Technology from a hold rating to a sell rating in a research report on Thursday, December 20th. Finally, ValuEngine raised shares of Tactile Systems Technology from a hold rating to a buy rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Tactile Systems Technology has a consensus rating of Buy and an average target price of $65.50.

Shares of Tactile Systems Technology stock traded up $0.69 on Friday, reaching $62.13. The stock had a trading volume of 433,583 shares, compared to its average volume of 393,248. Tactile Systems Technology has a fifty-two week low of $27.87 and a fifty-two week high of $73.24. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 295.86, a PEG ratio of 13.87 and a beta of 1.74.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Monday, November 5th. The company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.04. Tactile Systems Technology had a net margin of 4.92% and a return on equity of 8.53%. The business had revenue of $36.30 million during the quarter, compared to analysts’ expectations of $34.22 million. During the same period in the previous year, the company earned $0.07 earnings per share. Tactile Systems Technology’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, equities research analysts anticipate that Tactile Systems Technology will post 0.24 EPS for the current year.

In other Tactile Systems Technology news, SVP Bryan Rishe sold 3,000 shares of the business’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $61.72, for a total value of $185,160.00. Following the sale, the senior vice president now owns 70,328 shares of the company’s stock, valued at approximately $4,340,644.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brent Moen purchased 900 shares of the stock in a transaction on Tuesday, November 20th. The stock was acquired at an average cost of $54.22 per share, for a total transaction of $48,798.00. The disclosure for this purchase can be found here. Insiders sold a total of 116,822 shares of company stock worth $6,725,674 in the last three months. Insiders own 8.70% of the company’s stock.

A number of institutional investors have recently made changes to their positions in TCMD. Bank of New York Mellon Corp boosted its stake in shares of Tactile Systems Technology by 22.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 264,521 shares of the company’s stock valued at $13,756,000 after purchasing an additional 49,350 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Tactile Systems Technology in the 2nd quarter valued at $175,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Tactile Systems Technology by 17.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 82,575 shares of the company’s stock valued at $4,294,000 after purchasing an additional 12,441 shares in the last quarter. Swiss National Bank boosted its stake in shares of Tactile Systems Technology by 11.3% in the 2nd quarter. Swiss National Bank now owns 26,700 shares of the company’s stock valued at $1,388,000 after purchasing an additional 2,700 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Tactile Systems Technology in the 2nd quarter valued at $341,000. 95.59% of the stock is currently owned by hedge funds and other institutional investors.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc is a medical technology company, which develops and provides innovative medical devices for the treatment of chronic diseases at home. The company focus on advancing the standard of care in treating chronic diseases in the home setting to improve patient outcomes and quality of life and help control rising healthcare expenditures.

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