Yahoo Finance Tactile Systems Technology (TCMD) Increases Yet Falls Behind Market: What Investors Need to Know
Tactile Systems Technology (TCMD) closed the latest trading day at $14.30, indicating a +0.21% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 1.02%. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 2.03%.
The medical device maker's shares have seen a decrease of 12.19% over the last month, not keeping up with the Medical sector's loss of 5.2% and the S&P 500's loss of 3.15%.
The upcoming earnings release of Tactile Systems Technology will be of great interest to investors. The company's earnings report is expected on May 6, 2024. In that report, analysts expect Tactile Systems Technology to post earnings of -$0.11 per share. This would mark a year-over-year decline of 266.67%. Alongside, our most recent consensus estimate is anticipating revenue of $59.1 million, indicating a 0.42% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.56 per share and a revenue of $302.89 million, demonstrating changes of -55.91% and +10.37%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Tactile Systems Technology. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Tactile Systems Technology currently has a Zacks Rank of #3 (Hold).
Investors should also note Tactile Systems Technology's current valuation metrics, including its Forward P/E ratio of 25.33. Its industry sports an average Forward P/E of 25.33, so one might conclude that Tactile Systems Technology is trading at no noticeable deviation comparatively.
The Medical - Instruments industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 86, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TCMD in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Tactile Systems Technology, Inc. (TCMD) : Free Stock Analysis Report
