Tactile Systems Technology Inc (TCMD) said after close Monday that it earned $0.85 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $69.6 million, beating estimates by $516 thousand.
In the same quarter a year ago, the company earned $0.09 per share on revenue of $65.3 million.
The stock is down 16.19% to $10.59 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Tactile Systems Technology Inc a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 60. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
Tactile Systems Technology Inc is a medical technology company. The company is engaged in developing and providing medical devices for the treatment of chronic diseases. The firm's proprietary platform flexitouch system provides a home-based solution for lymphedema patients. The entire system is another home solution for patients with chronic swelling and actitouch system for chronic venous insufficiency patients that may be worn throughout the day.
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Tactile Systems Technology Inc Down 16.19% To $10.59 After Earnings Beat
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