Q2 2024 EPS Estimates for Tactile Systems Technology, Inc. (NASDAQ:TCMD) Lowered by Analyst

Tactile Systems Technology, Inc. (NASDAQ:TCMD) – Research analysts at William Blair dropped their Q2 2024 earnings per share (EPS) estimates for shares of Tactile Systems Technology in a research note issued to investors on Tuesday, May 7th. William Blair analyst M. Kaczor now expects that the company will post earnings per share of $0.06 for the quarter, down from their prior forecast of $0.07. The consensus estimate for Tactile Systems Technology’s current full-year earnings is $0.56 per share. William Blair also issued estimates for Tactile Systems Technology’s Q3 2024 earnings at $0.19 EPS, Q4 2024 earnings at $0.36 EPS, Q2 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.22 EPS and Q4 2025 earnings at $0.40 EPS.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.25. Tactile Systems Technology had a return on equity of 17.08% and a net margin of 10.39%. The business had revenue of $77.65 million during the quarter, compared to analysts’ expectations of $78.85 million. During the same period in the previous year, the business posted $0.29 earnings per share.

Separately, StockNews.com upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday.

Tactile Systems Technology Price Performance

Shares of TCMD stock opened at $13.85 on Wednesday. Tactile Systems Technology has a 1 year low of $9.69 and a 1 year high of $26.11. The company has a current ratio of 3.54, a quick ratio of 2.99 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $15.21 and its 200-day moving average is $14.19. The firm has a market capitalization of $329.08 million, a price-to-earnings ratio of 11.54 and a beta of 1.23.

Insider Buying and Selling at Tactile Systems Technology

In related news, CEO Daniel L. Reuvers sold 6,239 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.81, for a total value of $98,638.59. Following the sale, the chief executive officer now directly owns 244,112 shares in the company, valued at approximately $3,859,410.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tactile Systems Technology news, VP Kristie Burns sold 2,015 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.90, for a total value of $32,038.50. Following the completion of the transaction, the vice president now directly owns 63,512 shares of the company’s stock, valued at $1,009,840.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel L. Reuvers sold 6,239 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.81, for a total value of $98,638.59. Following the completion of the sale, the chief executive officer now owns 244,112 shares of the company’s stock, valued at $3,859,410.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,335 shares of company stock valued at $280,532. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tactile Systems Technology

Several institutional investors have recently modified their holdings of the business. Arcadia Investment Management Corp MI raised its holdings in Tactile Systems Technology by 94.8% during the 1st quarter. Arcadia Investment Management Corp MI now owns 1,570 shares of the company’s stock worth $25,000 after buying an additional 764 shares during the period. Palisade Asset Management LLC acquired a new stake in shares of Tactile Systems Technology during the first quarter worth $32,000. New York State Teachers Retirement System bought a new stake in Tactile Systems Technology in the 3rd quarter valued at $29,000. International Assets Investment Management LLC boosted its stake in Tactile Systems Technology by 1,330.0% in the 4th quarter. International Assets Investment Management LLC now owns 2,860 shares of the company’s stock worth $41,000 after purchasing an additional 2,660 shares during the period. Finally, Covestor Ltd increased its holdings in Tactile Systems Technology by 69.4% during the 3rd quarter. Covestor Ltd now owns 2,872 shares of the company’s stock worth $40,000 after purchasing an additional 1,177 shares in the last quarter. Institutional investors own 83.43% of the company’s stock.

About Tactile Systems Technology

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.