StockNews.com Upgrades Tactile Systems Technology (NASDAQ:TCMD) to “Strong-Buy”

Tactile Systems Technology (NASDAQ:TCMD) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

Separately, B. Riley downgraded shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $18.00 in a report on Wednesday, February 19th.

Tactile Systems Technology Stock Down 2.9 %

Tactile Systems Technology stock traded down $0.40 during trading hours on Friday, hitting $13.29. The company had a trading volume of 416,839 shares, compared to its average volume of 245,653. The firm’s fifty day moving average is $15.89 and its 200-day moving average is $15.79. The firm has a market capitalization of $313.44 million, a P/E ratio of 18.99 and a beta of 1.24. Tactile Systems Technology has a fifty-two week low of $11.12 and a fifty-two week high of $21.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.36 and a quick ratio of 3.80.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.09. Tactile Systems Technology had a return on equity of 9.37% and a net margin of 5.79%. The firm had revenue of $85.59 million for the quarter, compared to the consensus estimate of $85.39 million. On average, research analysts forecast that Tactile Systems Technology will post 0.7 earnings per share for the current year.

Insider Buying and Selling at Tactile Systems Technology

In other news, Director Daniel L. Reuvers sold 10,938 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $14.55, for a total value of $159,147.90. Following the sale, the director now owns 242,942 shares of the company’s stock, valued at approximately $3,534,806.10. This represents a 4.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kristie Burns sold 4,830 shares of Tactile Systems Technology stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $14.65, for a total transaction of $70,759.50. Following the transaction, the vice president now directly owns 84,008 shares of the company’s stock, valued at $1,230,717.20. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock worth $285,444 over the last three months. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Tactile Systems Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. acquired a new position in Tactile Systems Technology in the third quarter worth $180,000. Charles Schwab Investment Management Inc. lifted its position in Tactile Systems Technology by 8.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 127,175 shares of the company’s stock worth $1,858,000 after buying an additional 9,485 shares in the last quarter. FMR LLC grew its holdings in Tactile Systems Technology by 28.1% during the 3rd quarter. FMR LLC now owns 79,348 shares of the company’s stock worth $1,159,000 after acquiring an additional 17,393 shares during the last quarter. BNP Paribas Financial Markets increased its position in Tactile Systems Technology by 16.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 45,374 shares of the company’s stock valued at $663,000 after acquiring an additional 6,401 shares in the last quarter. Finally, Martingale Asset Management L P raised its stake in shares of Tactile Systems Technology by 16.6% in the third quarter. Martingale Asset Management L P now owns 47,105 shares of the company’s stock worth $688,000 after acquiring an additional 6,709 shares during the last quarter. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.