Tactile Systems Technology Inc. [TCMD] stock Upgrade by Oppenheimer analyst, price target now $55

Tactile Systems Technology Inc. [NASDAQ: TCMD] stock went on a downward path that fall over -1.71% on Friday, amounting to a one-week price decrease of less than -1.54%. The company report on November 22, 2022 that Tactile Medical to Participate in the Piper Sandler 34th Annual Healthcare Conference.

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A live audio webcast of the presentation will be accessible under the “Events & Webcasts” section of the Company’s investor relations website at http://investors.tactilemedical.com. An archive of the webcast will be available for replay following the conference.

Over the last 12 months, TCMD stock dropped by -40.30%. The one-year Tactile Systems Technology Inc. stock forecast points to a potential upside of 50.79. The average equity rating for TCMD stock is currently 1.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $235.45 million, with 20.14 million shares outstanding and 19.59 million shares in the current float. Compared to the average trading volume of 220.08K shares, TCMD stock reached a trading volume of 136799 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Tactile Systems Technology Inc. [TCMD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TCMD shares is $23.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TCMD stock is a recommendation set at 1.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Tactile Systems Technology Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 13, 2020. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Perform. The new note on the price target was released on October 22, 2019, representing the official price target for Tactile Systems Technology Inc. stock. Previously, the target price had yet another raise to $62, while BTIG Research analysts kept a Buy rating on TCMD stock.

The Average True Range (ATR) for Tactile Systems Technology Inc. is set at 0.56, with the Price to Sales ratio for TCMD stock in the period of the last 12 months amounting to 1.00. The Price to Book ratio for the last quarter was 2.02, with the Price to Cash per share for the same quarter was set at 1.88. Price to Free Cash Flow for TCMD in the course of the last twelve months was 53.51 with Quick ratio for the last quarter at 1.70.

TCMD Stock Performance Analysis:

Tactile Systems Technology Inc. [TCMD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.54. With this latest performance, TCMD shares gained by 34.11% in over the last four-week period, additionally plugging by 63.53% over the last 6 months – not to mention a drop of -40.30% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TCMD stock in for the last two-week period is set at 62.91, with the RSI for the last a single of trading hit 58.75, and the three-weeks RSI is set at 63.75 for Tactile Systems Technology Inc. [TCMD]. The present Moving Average for the last 50 days of trading for this stock 9.16, while it was recorded at 11.61 for the last single week of trading, and 10.43 for the last 200 days.

Insight into Tactile Systems Technology Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Tactile Systems Technology Inc. [TCMD] shares currently have an operating margin of -0.14 and a Gross Margin at +71.59. Tactile Systems Technology Inc.’s Net Margin is presently recorded at -5.68.

Return on Equity for this stock declined to -9.34, with Return on Assets sitting at -5.65.

Tactile Systems Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 2.10.

TCMD Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TCMD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Tactile Systems Technology Inc. go to 5.00%.

Tactile Systems Technology Inc. [TCMD] Insider Position Details

There are presently around $196 million, or 85.80% of TCMD stock, in the hands of institutional investors. The top three institutional holders of TCMD stocks are: BLACKROCK INC. with ownership of 2,092,678, which is approximately 7.364% of the company’s market cap and around 0.50% of the total institutional ownership; MORGAN STANLEY, holding 1,867,131 shares of the stock with an approximate value of $21.43 million in TCMD stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $15.75 million in TCMD stock with ownership of nearly 40.962% of the company’s market capitalization.

Positions in Tactile Systems Technology Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 54 institutional holders increased their position in Tactile Systems Technology Inc. [NASDAQ:TCMD] by around 3,508,627 shares. Additionally, 63 investors decreased positions by around 3,504,602 shares, while 19 investors held positions by with 10,047,520 shares. The mentioned changes placed institutional holdings at 17,060,749 shares, according to the latest SEC report filing. TCMD stock had 12 new institutional investments in for a total of 837,381 shares, while 20 institutional investors sold positions of 1,049,188 shares during the same period.

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