Tactile Systems Technology, Inc. (TCMD) Expected to Announce Quarterly Sales of $33.10 Million

Equities analysts predict that Tactile Systems Technology, Inc. (NASDAQ:TCMD) will post sales of $33.10 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Tactile Systems Technology’s earnings. The highest sales estimate is $33.30 million and the lowest is $32.90 million. Tactile Systems Technology posted sales of $28.48 million in the same quarter last year, which suggests a positive year-over-year growth rate of 16.2%. The firm is scheduled to announce its next earnings results on Monday, February 26th.

According to Zacks, analysts expect that Tactile Systems Technology will report full year sales of $33.10 million for the current year, with estimates ranging from $106.60 million to $107.70 million. For the next year, analysts anticipate that the company will post sales of $128.57 million per share, with estimates ranging from $128.40 million to $128.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Tactile Systems Technology.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Tactile Systems Technology had a net margin of 5.84% and a return on equity of 4.75%. The company had revenue of $28.28 million for the quarter, compared to analysts’ expectations of $27.66 million. During the same quarter last year, the business earned $0.01 EPS. The firm’s revenue was up 25.0% compared to the same quarter last year.

A number of equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Thursday, August 10th. Piper Jaffray Companies raised their target price on shares of Tactile Systems Technology from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Monday, September 18th. Guggenheim assumed coverage on shares of Tactile Systems Technology in a research note on Thursday, October 12th. They set a “buy” rating and a $47.00 target price on the stock. Finally, Canaccord Genuity restated a “buy” rating and set a $37.00 target price (up previously from $28.00) on shares of Tactile Systems Technology in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $34.25.

Shares of Tactile Systems Technology (NASDAQ TCMD) opened at $27.91 on Thursday. Tactile Systems Technology has a one year low of $14.37 and a one year high of $37.88. The company has a market cap of $476.53, a P/E ratio of 179.47, a price-to-earnings-growth ratio of 4.41 and a beta of -0.57.

In other Tactile Systems Technology news, VP Bryan Rishe sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $32.77, for a total transaction of $49,155.00. Following the completion of the sale, the vice president now directly owns 111,307 shares of the company’s stock, valued at approximately $3,647,530.39. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gerald R. Mattys sold 40,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $27.00, for a total transaction of $1,080,000.00. Following the sale, the chief executive officer now directly owns 334,013 shares of the company’s stock, valued at $9,018,351. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,108,660 shares of company stock valued at $34,152,506. Insiders own 49.90% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in shares of Tactile Systems Technology by 33.7% in the first quarter. Bank of New York Mellon Corp now owns 13,805 shares of the company’s stock valued at $262,000 after purchasing an additional 3,480 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Tactile Systems Technology by 109.6% in the first quarter. Vanguard Group Inc. now owns 316,566 shares of the company’s stock valued at $5,999,000 after purchasing an additional 165,506 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tactile Systems Technology by 17.2% in the first quarter. Geode Capital Management LLC now owns 70,704 shares of the company’s stock valued at $1,339,000 after purchasing an additional 10,377 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Tactile Systems Technology in the first quarter valued at $2,789,000. Finally, Bank of America Corp DE grew its holdings in shares of Tactile Systems Technology by 1,118.5% in the first quarter. Bank of America Corp DE now owns 6,982 shares of the company’s stock valued at $133,000 after purchasing an additional 6,409 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

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Tactile Systems Technology Company Profile

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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Earnings History and Estimates for Tactile Systems Technology (NASDAQ:TCMD)

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