Equities research analysts forecast that Tactile Systems Technology Inc (NASDAQ:TCMD) will announce $42.26 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Tactile Systems Technology’s earnings. The lowest sales estimate is $41.98 million and the highest is $42.40 million. Tactile Systems Technology reported sales of $34.13 million in the same quarter last year, which would suggest a positive year over year growth rate of 23.8%. The business is expected to report its next earnings results on Monday, August 5th.
According to Zacks, analysts expect that Tactile Systems Technology will report full-year sales of $181.35 million for the current financial year, with estimates ranging from $180.94 million to $181.90 million. For the next financial year, analysts forecast that the company will report sales of $220.04 million, with estimates ranging from $217.13 million to $225.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Tactile Systems Technology.
Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.20. The company had revenue of $37.60 million during the quarter, compared to the consensus estimate of $33.30 million. Tactile Systems Technology had a return on equity of 8.17% and a net margin of 5.27%. The company’s revenue for the quarter was up 40.3% on a year-over-year basis.
In other Tactile Systems Technology news, COO Robert J. Folkes sold 2,106 shares of Tactile Systems Technology stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $56.02, for a total value of $117,978.12. Following the sale, the chief operating officer now owns 94,702 shares of the company’s stock, valued at approximately $5,305,206.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bryan Rishe sold 3,000 shares of Tactile Systems Technology stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $52.98, for a total value of $158,940.00. Following the completion of the sale, the senior vice president now directly owns 49,681 shares in the company, valued at approximately $2,632,099.38. The disclosure for this sale can be found here. Insiders sold a total of 63,937 shares of company stock worth $3,392,099 over the last 90 days. 6.50% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. bought a new stake in shares of Tactile Systems Technology during the first quarter worth approximately $25,000. NumerixS Investment Technologies Inc raised its position in Tactile Systems Technology by 240.0% during the fourth quarter. NumerixS Investment Technologies Inc now owns 1,700 shares of the company’s stock valued at $75,000 after purchasing an additional 1,200 shares in the last quarter. Neuburgh Advisers LLC increased its holdings in shares of Tactile Systems Technology by 22.2% during the fourth quarter. Neuburgh Advisers LLC now owns 1,760 shares of the company’s stock worth $80,000 after buying an additional 320 shares in the last quarter. BerganKDV Wealth Management LLC acquired a new position in shares of Tactile Systems Technology during the first quarter worth $158,000. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Tactile Systems Technology by 73,060.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,658 shares of the company’s stock worth $193,000 after buying an additional 3,653 shares in the last quarter. 99.65% of the stock is currently owned by institutional investors and hedge funds.
TCMD opened at $53.95 on Wednesday. The company has a market cap of $1.04 billion, a P/E ratio of 158.68, a PEG ratio of 5.29 and a beta of 1.96. The business’s 50-day moving average is $52.14. Tactile Systems Technology has a 52-week low of $37.40 and a 52-week high of $76.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.30 and a current ratio of 4.96.
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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