Zacks: Brokerages Expect Tactile Systems Technology, Inc. (NASDAQ:TCMD) Will Announce Quarterly Sales of $58.22 Million

Analysts expect that Tactile Systems Technology, Inc. (NASDAQ:TCMD) will post $58.22 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Tactile Systems Technology’s earnings. The lowest sales estimate is $57.60 million and the highest is $58.65 million. Tactile Systems Technology reported sales of $59.24 million during the same quarter last year, which would suggest a negative year over year growth rate of 1.7%. The business is expected to announce its next earnings report on Tuesday, February 22nd.

According to Zacks, analysts expect that Tactile Systems Technology will report full-year sales of $204.53 million for the current financial year, with estimates ranging from $203.90 million to $204.98 million. For the next financial year, analysts expect that the company will post sales of $241.01 million, with estimates ranging from $236.12 million to $249.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Tactile Systems Technology.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings results on Monday, November 8th. The company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.20). Tactile Systems Technology had a return on equity of 6.32% and a net margin of 3.79%. During the same quarter in the previous year, the firm posted $0.12 EPS.

A number of research analysts recently weighed in on TCMD shares. Zacks Investment Research cut shares of Tactile Systems Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 11th. Oppenheimer lowered their target price on shares of Tactile Systems Technology from $62.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 9th. Piper Sandler lowered their target price on shares of Tactile Systems Technology from $70.00 to $45.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 9th. They noted that the move was a valuation call. Finally, BTIG Research lifted their target price on shares of Tactile Systems Technology from $44.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 9th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $52.50.

A number of hedge funds and other institutional investors have recently made changes to their positions in TCMD. BlackRock Inc. increased its holdings in shares of Tactile Systems Technology by 1.6% in the 3rd quarter. BlackRock Inc. now owns 3,483,470 shares of the company’s stock worth $154,841,000 after buying an additional 53,260 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Tactile Systems Technology by 18.7% in the 3rd quarter. Macquarie Group Ltd. now owns 1,319,088 shares of the company’s stock worth $58,633,000 after buying an additional 207,748 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Tactile Systems Technology by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,297,465 shares of the company’s stock worth $67,468,000 after buying an additional 54,638 shares during the last quarter. State Street Corp increased its holdings in shares of Tactile Systems Technology by 4.7% in the 2nd quarter. State Street Corp now owns 774,388 shares of the company’s stock worth $40,268,000 after buying an additional 35,019 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Tactile Systems Technology by 27.6% in the 3rd quarter. Morgan Stanley now owns 658,051 shares of the company’s stock worth $29,251,000 after buying an additional 142,459 shares during the last quarter. Institutional investors own 96.34% of the company’s stock.

Shares of Tactile Systems Technology stock traded down $0.06 on Thursday, hitting $21.86. 103,631 shares of the company’s stock were exchanged, compared to its average volume of 156,767. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.40 and a quick ratio of 3.96. Tactile Systems Technology has a 1 year low of $21.37 and a 1 year high of $64.53. The firm has a 50-day moving average of $37.48. The company has a market capitalization of $433.33 million, a PE ratio of 56.05 and a beta of 1.43.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc is a medical technology company. It 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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Earnings History and Estimates for Tactile Systems Technology (NASDAQ:TCMD)

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