Wall Street analysts expect Tactile Systems Technology Inc (NASDAQ:TCMD) to report $55.95 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Tactile Systems Technology’s earnings, with the lowest sales estimate coming in at $55.80 million and the highest estimate coming in at $56.10 million. Tactile Systems Technology posted sales of $46.45 million in the same quarter last year, which would indicate a positive year over year growth rate of 20.5%. The business is scheduled to report its next quarterly earnings report after the market closes on Wednesday, February 26th.

According to Zacks, analysts expect that Tactile Systems Technology will report full year sales of $187.42 million for the current fiscal year, with estimates ranging from $186.77 million to $188.50 million. For the next financial year, analysts anticipate that the business will report sales of $226.10 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Tactile Systems Technology.

TCMD has been the topic of a number of research reports. BTIG Research reiterated a “positive” rating and issued a $72.00 price target on shares of Tactile Systems Technology in a report on Thursday, December 12th. Piper Jaffray Companies started coverage on shares of Tactile Systems Technology in a report on Monday, November 18th. They issued a “buy” rating and a $70.00 price target on the stock. BidaskClub raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. ValuEngine raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Zacks Investment Research raised shares of Tactile Systems Technology from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Tactile Systems Technology currently has a consensus rating of “Buy” and an average target price of $74.71.

In other Tactile Systems Technology news, COO Robert J. Folkes sold 2,273 shares of Tactile Systems Technology stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $60.12, for a total value of $136,652.76. Following the completion of the transaction, the chief operating officer now directly owns 71,536 shares of the company’s stock, valued at approximately $4,300,744.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bryan Rishe sold 2,330 shares of Tactile Systems Technology stock in a transaction on Friday, January 24th. The stock was sold at an average price of $58.19, for a total transaction of $135,582.70. Following the completion of the transaction, the senior vice president now directly owns 41,201 shares of the company’s stock, valued at $2,397,486.19. The disclosure for this sale can be found here. Insiders sold a total of 22,877 shares of company stock valued at $1,451,413 over the last three months. Corporate insiders own 6.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System boosted its stake in shares of Tactile Systems Technology by 0.9% during the 4th quarter. New York State Teachers Retirement System now owns 22,010 shares of the company’s stock worth $1,486,000 after purchasing an additional 200 shares during the period. Wakefield Asset Management LLLP boosted its stake in shares of Tactile Systems Technology by 2.1% during the 3rd quarter. Wakefield Asset Management LLLP now owns 10,663 shares of the company’s stock worth $451,000 after purchasing an additional 223 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Tactile Systems Technology by 54.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 914 shares of the company’s stock worth $61,000 after purchasing an additional 322 shares during the period. California State Teachers Retirement System boosted its stake in shares of Tactile Systems Technology by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 28,298 shares of the company’s stock worth $1,198,000 after purchasing an additional 338 shares during the period. Finally, Citigroup Inc. boosted its stake in shares of Tactile Systems Technology by 1.8% during the 4th quarter. Citigroup Inc. now owns 22,217 shares of the company’s stock worth $1,500,000 after purchasing an additional 402 shares during the period. 97.92% of the stock is owned by hedge funds and other institutional investors.

NASDAQ TCMD traded down $0.47 on Friday, reaching $63.60. The company had a trading volume of 115,823 shares, compared to its average volume of 184,559. The company has a quick ratio of 3.56, a current ratio of 4.26 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.21 billion, a PE ratio of 138.26, a price-to-earnings-growth ratio of 7.69 and a beta of 2.22. The firm’s 50 day moving average price is $62.46 and its 200 day moving average price is $55.39. Tactile Systems Technology has a 12 month low of $40.62 and a 12 month high of $76.63.

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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