Tactile Systems Technology (NASDAQ:TCMD) Downgraded by BTIG Research to “Neutral”

BTIG Research cut shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports.

Several other equities analysts have also recently issued reports on the company. StockNews.com raised Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 20th. B. Riley began coverage on Tactile Systems Technology in a report on Thursday, September 26th. They set a “buy” rating and a $23.00 price target on the stock.

Tactile Systems Technology Price Performance

TCMD opened at $13.43 on Tuesday. The firm has a market cap of $319.10 million, a PE ratio of 20.66 and a beta of 1.17. The stock has a 50-day moving average price of $14.03 and a 200-day moving average price of $13.19. Tactile Systems Technology has a 1 year low of $9.69 and a 1 year high of $16.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.44 and a quick ratio of 3.89.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, August 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.10. Tactile Systems Technology had a net margin of 5.42% and a return on equity of 9.38%. The business had revenue of $73.22 million during the quarter, compared to analysts’ expectations of $72.62 million. Sell-side analysts predict that Tactile Systems Technology will post 0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tactile Systems Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Paradigm Capital Management Inc. NY raised its stake in Tactile Systems Technology by 90.1% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock valued at $14,135,000 after buying an additional 561,073 shares during the last quarter. Pinnacle Associates Ltd. increased its position in Tactile Systems Technology by 324.9% during the second quarter. Pinnacle Associates Ltd. now owns 317,024 shares of the company’s stock valued at $3,785,000 after acquiring an additional 242,413 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in Tactile Systems Technology in the third quarter valued at about $1,803,000. Los Angeles Capital Management LLC purchased a new position in Tactile Systems Technology in the second quarter worth about $1,187,000. Finally, Federated Hermes Inc. grew its stake in shares of Tactile Systems Technology by 26.5% during the 2nd quarter. Federated Hermes Inc. now owns 433,660 shares of the company’s stock valued at $5,178,000 after purchasing an additional 90,960 shares during the period. Hedge funds and other institutional investors 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.