Tactile Systems Technology Inc (NASDAQ: TCMD) stock jumped 9.91% on Monday to $12.64 against a previous-day closing price of $11.50. With 0.7 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.43 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $12.72 whereas the lowest price it dropped to was $11.46. The 52-week range on TCMD shows that it touched its highest point at $26.11 and its lowest point at $8.18 during that stretch. It currently has a 1-year price target of $24.00. Beta for the stock currently stands at 1.30.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TCMD was up-trending over the past week, with a rise of 17.58%, but this was up by 13.16% over a month. Three-month performance dropped to -30.89% while six-month performance fell -41.24%. The stock gained 54.90% in the past year, while it has gained 10.10% so far this year. A look at the trailing 12-month EPS for TCMD yields 1.07 with Next year EPS estimates of 0.49. For the next quarter, that number is 0.21. This implies an EPS growth rate of 701.41% for this year and -55.04% for next year.
Float and Shares Shorts:
At present, 23.50 million TCMD shares are outstanding with a float of 23.07 million shares on hand for trading. On Oct 30, 2023, short shares totaled 0.66 million, which was 2.80% higher than short shares on Sep 28, 2023. In addition to Mr. Daniel L. Reuvers as the firm’s President, CEO & Director, Ms. Kristie T. Burns serves as its Senior Vice President of Marketing & Clinical Affairs.
Institutional Ownership:
Through their ownership of 90.40% of TCMD’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 59.74% of TCMD, in contrast to 32.66% held by mutual funds. Shares owned by individuals account for 13.31%. As the largest shareholder in TCMD with 12.20% of the stake, First Light Asset Management LLC holds 2,863,130 shares worth 2,863,130. A second-largest stockholder of TCMD, BlackRock Fund Advisors, holds 1,698,011 shares, controlling over 7.24% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in TCMD, holding 1,304,230 shares or 5.56% stake. With a 2.99% stake in TCMD, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 702,000 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.31% of TCMD stock, is the second-largest Mutual Fund holder. It holds 542,665 shares valued at 5.93 million. Vanguard Extended Market Index Fu holds 1.42% of the stake in TCMD, owning 332,286 shares worth 3.63 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TCMD since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TCMD analysts setting a high price target of $30.00 and a low target of $19.00, the average target price over the next 12 months is $24.00. Based on these targets, TCMD could surge 137.34% to reach the target high and rise by 50.32% to reach the target low. Reaching the average price target will result in a growth of 89.87% from current levels.
Summary of Insider Activity:
Insiders traded TCMD stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 13 over the past year. The total number of shares bought during that period was 189,912 while 23,098 shares were sold.
