BTIG analyst Sean Lavin maintained a Hold rating on Tactile Systems Technology (NASDAQ: TCMD) on August 6. The company’s shares closed yesterday at $57.66, close to its 52-week high of $59.78.
Lavin observed:
“in recent quarters, TCMD posted a small revenue beat of $2.5M and lifted annual sales guidance by $1.5M to $134.5M at the midpoint of the range. However, consensus was already calling for $134.5M in 2018 sales before this quarter’s beat. We think with shares trading in the high-$40s, the Q2 beat and minor raise may only be enough to keep shares at their current price level. We think investors might like to see a bit more aggression though the conservative strategy has worked for shares since the IPO. TCMD also announced a new CFO; we don’t foresee any significant shift in corporate strategy with the leadership transition. In our view, Flexitouch sales are being propelled forward by sustainable drivers, including a larger salesforce, a more productive targeting/selling strategy, and the launch of Flexitouch Plus.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 14.5% and a 62.3% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Helius Medical Technologies, Obalon Therapeutics Inc, and Boston Scientific Corp.
Currently, the analyst consensus on Tactile Systems Technology is a Moderate Buy with an average price target of $52.
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The company has a one-year high of $59.78 and a one-year low of $22.72. Currently, Tactile Systems Technology has an average volume of 277K.
Based on the recent corporate insider activity of 106 insiders, corporate insider sentiment is negative on the stock.
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Tactile Systems Technology, Inc. is a medical technology company, which 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. It possess a platform to deliver at-home healthcare solutions throughout the United States. The company was founded on January 30, 1995 and is headquartered in Minneapolis, MN.
