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

StockNews.com upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday.

Tactile Systems Technology Stock Up 1.8 %

Tactile Systems Technology stock opened at $14.44 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.54 and a quick ratio of 2.99. The stock’s 50 day moving average price is $15.25 and its 200 day moving average price is $14.19. Tactile Systems Technology has a 1-year low of $9.69 and a 1-year high of $26.11. The company has a market cap of $343.09 million, a PE ratio of 12.03 and a beta of 1.23.

Tactile Systems Technology (NASDAQ:TCMD) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.25. The business had revenue of $77.65 million during the quarter, compared to analysts’ expectations of $78.85 million. Tactile Systems Technology had a net margin of 10.39% and a return on equity of 17.08%. During the same period last year, the company posted $0.29 EPS. On average, sell-side analysts predict that Tactile Systems Technology will post 0.56 EPS for the current fiscal year.

Insider Activity

In related news, VP Kristie Burns sold 2,015 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.90, for a total transaction of $32,038.50. Following the transaction, the vice president now directly owns 63,512 shares in the company, valued at $1,009,840.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Daniel L. Reuvers sold 6,239 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.81, for a total transaction of $98,638.59. Following the completion of the sale, the chief executive officer now directly owns 244,112 shares of the company’s stock, valued at approximately $3,859,410.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kristie Burns sold 2,015 shares of Tactile Systems Technology stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.90, for a total value of $32,038.50. Following the completion of the transaction, the vice president now owns 63,512 shares in the company, valued at approximately $1,009,840.80. The disclosure for this sale can be found here. Insiders sold a total of 17,520 shares of company stock valued at $268,820 over the last quarter. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Tactile Systems Technology

Several hedge funds and other institutional investors have recently modified their holdings of TCMD. FMR LLC raised its holdings in Tactile Systems Technology by 62.1% in the third quarter. FMR LLC now owns 579,392 shares of the company’s stock valued at $8,140,000 after buying an additional 222,012 shares during the period. Walleye Capital LLC acquired a new position in shares of Tactile Systems Technology during the 3rd quarter valued at $1,860,000. Millrace Asset Group Inc. boosted its position in Tactile Systems Technology by 103.8% during the 3rd quarter. Millrace Asset Group Inc. now owns 77,253 shares of the company’s stock worth $1,085,000 after purchasing an additional 39,344 shares during the period. Vanguard Group Inc. increased its holdings in Tactile Systems Technology by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,370,403 shares of the company’s stock valued at $19,254,000 after purchasing an additional 9,863 shares in the last quarter. Finally, Swiss National Bank acquired a new position in shares of Tactile Systems Technology during the third quarter worth about $718,000. 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.