B. Riley Has Strong Forecast for TCMD FY2024 Earnings

Tactile Systems Technology, Inc. (NASDAQ:TCMD) – Equities researchers at B. Riley lifted their FY2024 earnings per share (EPS) estimates for shares of Tactile Systems Technology in a research report issued to clients and investors on Tuesday, November 5th. B. Riley analyst K. Bauser now forecasts that the company will post earnings per share of $0.69 for the year, up from their prior forecast 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.

Tactile Systems Technology (NASDAQ:TCMD) last posted 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. Tactile Systems Technology had a net margin of 5.42% and a return on equity of 9.38%. The firm had revenue of $73.22 million during the quarter, compared to analysts’ expectations of $72.62 million.

Other equities analysts also recently issued reports about the stock. BTIG Research downgraded shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Tuesday. StockNews.com upgraded Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 20th. Finally, Oppenheimer downgraded Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research note on Tuesday.

Tactile Systems Technology Stock Up 4.3 %

Tactile Systems Technology stock opened at $15.26 on Wednesday. The company has a current ratio of 4.44, a quick ratio of 3.89 and a debt-to-equity ratio of 0.12. Tactile Systems Technology has a 1-year low of $9.84 and a 1-year high of $16.95. The firm’s fifty day simple moving average is $14.10 and its 200-day simple moving average is $13.22. The company has a market capitalization of $362.46 million, a P/E ratio of 23.47 and a beta of 1.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Arcadia Investment Management Corp MI bought a new stake in Tactile Systems Technology during the third quarter valued at about $29,000. Gladius Capital Management LP acquired a new position in shares of Tactile Systems Technology during the 3rd quarter worth about $44,000. Quarry LP bought a new stake in Tactile Systems Technology during the 2nd quarter valued at approximately $46,000. Magnetar Financial LLC acquired a new stake in Tactile Systems Technology in the 2nd quarter valued at approximately $130,000. Finally, SG Americas Securities LLC bought a new position in Tactile Systems Technology in the 3rd quarter worth approximately $156,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.

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.