BTIG analyst Sean Lavin maintained a Hold rating on Tactile Systems Technology (TCMD) yesterday. The company’s shares opened today at $71.97, close to its 52-week high of $76.63.
Lavin wrote:
“Medical reported a Q4 beat and set 2019 guidance ~$4M above consensus. However, the reported beat came with more sales reps to finish 2018 and higher operating expense than we forecasted. This seems to underscore the TCMD story – steep growth driven in part by opex increases and increased salesforce hiring. This is expected to continue into 2019, with management looking to increase sales rep headcount by ~20% and grow sales by 20-22% y/y. We would not be surprised by beats throughout the year, as we feel the company’s history and underlying factors—such as momentum with the VA, more feet on the street, and continued volume uplift from last year’s large payor contract enabling in-network direct patient access—make this more likely than not. Despite anticipated beats and raises, we maintain our Neutral rating based on valuation.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 11.0% and a 60.6% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Obalon Therapeutics Inc.
Tactile Systems Technology has an analyst consensus of Moderate Buy, with a price target consensus of $70, which is a -2.7% downside from current levels. In a report issued on March 1, Northland Securities also assigned a Hold rating to the stock with a $50 price target.
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Tactile Systems Technology’s market cap is currently $1.35B and has a P/E ratio of 215.81. The company has a Price to Book ratio of 15.16.
Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TCMD in relation to earlier this year.
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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.
