B. Riley Has Optimistic Outlook of TCMD FY2024 Earnings

Tactile Systems Technology, Inc. (NASDAQ:TCMD) – Stock analysts at B. Riley raised their FY2024 earnings per share estimates for shares of Tactile Systems Technology in a research report issued on Tuesday, November 5th. B. Riley analyst K. Bauser now forecasts that the company will earn $0.69 per share for the year, up from their prior estimate of $0.66. B. Riley currently has a “Strong-Buy” rating on the stock. The consensus estimate for Tactile Systems Technology’s current full-year earnings is $0.64 per share. B. Riley also issued estimates for Tactile Systems Technology’s Q4 2024 earnings at $0.33 EPS, Q2 2025 earnings at $0.20 EPS, Q3 2025 earnings at $0.28 EPS, Q4 2025 earnings at $0.40 EPS and FY2025 earnings at $0.80 EPS.

A number of other research firms have also issued reports on TCMD. StockNews.com upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Friday, September 20th. BTIG Research lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Tuesday. Finally, Oppenheimer lowered Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday.

Tactile Systems Technology Price Performance

TCMD opened at $13.43 on Wednesday. The stock has a fifty day moving average of $14.03 and a 200-day moving average of $13.19. The firm has a market capitalization of $319.10 million, a P/E ratio of 20.66 and a beta of 1.17. Tactile Systems Technology has a 12-month low of $9.69 and a 12-month high of $16.95. The company has a quick ratio of 3.89, a current ratio of 4.44 and a debt-to-equity ratio of 0.12.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, August 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. The company had revenue of $73.22 million during the quarter, compared to analyst estimates of $72.62 million. Tactile Systems Technology had a return on equity of 9.38% and a net margin of 5.42%.

Institutional Trading of Tactile Systems Technology

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Tactile Systems Technology by 1.0% during the first quarter. Vanguard Group Inc. now owns 1,383,366 shares of the company’s stock worth $22,480,000 after acquiring an additional 13,350 shares in the last quarter. Paradigm Capital Management Inc. NY raised its holdings in shares of Tactile Systems Technology by 90.1% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock worth $14,135,000 after acquiring an additional 561,073 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Tactile Systems Technology by 26.5% during the second quarter. Federated Hermes Inc. now owns 433,660 shares of the company’s stock worth $5,178,000 after acquiring an additional 90,960 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Tactile Systems Technology by 324.9% during the second quarter. Pinnacle Associates Ltd. now owns 317,024 shares of the company’s stock worth $3,785,000 after acquiring an additional 242,413 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Tactile Systems Technology by 3.4% during the first quarter. Blair William & Co. IL now owns 308,842 shares of the company’s stock worth $5,019,000 after acquiring an additional 10,297 shares in the last quarter. 83.43% of the stock is currently owned by hedge funds and other institutional investors.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.