Tactile Systems Technology (NASDAQ:TCMD) Sets New 1-Year High – Here’s Why

Tactile Systems Technology, Inc. (NASDAQ:TCMD) shares hit a new 52-week high on Tuesday . The company traded as high as $21.00 and last traded at $21.00, with a volume of 12267 shares trading hands. The stock had previously closed at $18.92.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Oppenheimer cut shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. BTIG Research lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 5th. B. Riley started coverage on shares of Tactile Systems Technology in a research report on Thursday, September 26th. They set a “buy” rating and a $23.00 target price for the company. Finally, StockNews.com cut shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Monday.

Tactile Systems Technology Trading Up 3.3 %

The firm has a fifty day moving average of $14.94 and a 200-day moving average of $13.43. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.80 and a current ratio of 4.37. The stock has a market capitalization of $454.32 million, a price-to-earnings ratio of 29.12 and a beta of 1.17.

Institutional Investors Weigh In On Tactile Systems Technology

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Tactile Systems Technology by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,383,366 shares of the company’s stock worth $22,480,000 after acquiring an additional 13,350 shares in the last quarter. Paradigm Capital Management Inc. NY raised its stake in shares of Tactile Systems Technology by 90.1% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock valued at $14,135,000 after purchasing an additional 561,073 shares during the period. Wasatch Advisors LP lifted its position in shares of Tactile Systems Technology by 9.8% during the third quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock worth $10,624,000 after purchasing an additional 64,684 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Tactile Systems Technology by 2.5% in the third quarter. Royce & Associates LP now owns 612,979 shares of the company’s stock valued at $8,956,000 after purchasing an additional 14,780 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Tactile Systems Technology by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock valued at $8,164,000 after purchasing an additional 8,422 shares in the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

About Tactile Systems Technology

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.