We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Tactile Systems Technology (TCMD) Rises But Trails Market: What Investors Should Know
Read MoreHide Full Article
Tactile Systems Technology (TCMD - Free Report) closed the latest trading day at $14.44, indicating a +0.7% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.91% for the day. Elsewhere, the Dow saw an upswing of 0.85%, while the tech-heavy Nasdaq appreciated by 1.51%.
Prior to today's trading, shares of the medical device maker had lost 6.82% over the past month. This has lagged the Medical sector's loss of 2.73% and the S&P 500's loss of 4.2% in that time.
Market participants will be closely following the financial results of Tactile Systems Technology in its upcoming release. The company plans to announce its earnings on May 6, 2024. The company's earnings per share (EPS) are projected to be -$0.11, reflecting a 266.67% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $59.1 million, indicating a 0.42% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.56 per share and revenue of $302.89 million, indicating changes of -55.91% and +10.37%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Tactile Systems Technology. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Tactile Systems Technology possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Tactile Systems Technology is currently exchanging hands at a Forward P/E ratio of 25.46. This expresses a discount compared to the average Forward P/E of 25.76 of its industry.
The Medical - Instruments industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 145, finds itself in the bottom 43% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Tactile Systems Technology (TCMD) Rises But Trails Market: What Investors Should Know
Tactile Systems Technology (TCMD - Free Report) closed the latest trading day at $14.44, indicating a +0.7% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.91% for the day. Elsewhere, the Dow saw an upswing of 0.85%, while the tech-heavy Nasdaq appreciated by 1.51%.
Prior to today's trading, shares of the medical device maker had lost 6.82% over the past month. This has lagged the Medical sector's loss of 2.73% and the S&P 500's loss of 4.2% in that time.
Market participants will be closely following the financial results of Tactile Systems Technology in its upcoming release. The company plans to announce its earnings on May 6, 2024. The company's earnings per share (EPS) are projected to be -$0.11, reflecting a 266.67% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $59.1 million, indicating a 0.42% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.56 per share and revenue of $302.89 million, indicating changes of -55.91% and +10.37%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Tactile Systems Technology. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Tactile Systems Technology possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Tactile Systems Technology is currently exchanging hands at a Forward P/E ratio of 25.46. This expresses a discount compared to the average Forward P/E of 25.76 of its industry.
The Medical - Instruments industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 145, finds itself in the bottom 43% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.