“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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