Tactile Systems Technology (NASDAQ:TCMD) Stock Rating Lowered by StockNews.com

Tactile Systems Technology (NASDAQ:TCMD) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

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

Tactile Systems Technology Stock Performance

NASDAQ:TCMD opened at $13.00 on Friday. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11. The firm’s fifty day simple moving average is $15.48 and its 200 day simple moving average is $15.83. The stock has a market cap of $306.61 million, a P/E ratio of 18.57 and a beta of 1.24. Tactile Systems Technology has a twelve month low of $11.12 and a twelve month high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last posted its earnings results on Tuesday, February 18th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.31 by $0.09. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. The firm had revenue of $85.59 million during the quarter, compared to analysts’ expectations of $85.39 million. As a group, research analysts predict that Tactile Systems Technology will post 0.7 EPS for the current year.

Insider Activity at Tactile Systems Technology

In other Tactile Systems Technology news, VP Kristie Burns sold 4,830 shares of Tactile Systems Technology stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.65, for a total transaction of $70,759.50. Following the completion of the transaction, the vice president now owns 84,008 shares in the company, valued at approximately $1,230,717.20. The trade was a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.70, for a total value of $55,536.60. Following the completion of the sale, the chief financial officer now directly owns 104,098 shares in the company, valued at approximately $1,530,240.60. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $285,444 in the last three months. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Tactile Systems Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TCMD. Victory Capital Management Inc. purchased a new position in shares of Tactile Systems Technology in the third quarter worth $180,000. Charles Schwab Investment Management Inc. raised its position in Tactile Systems Technology by 8.1% in 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 during the last quarter. FMR LLC raised its position in Tactile Systems Technology by 28.1% in the 3rd quarter. FMR LLC now owns 79,348 shares of the company’s stock worth $1,159,000 after buying an additional 17,393 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Tactile Systems Technology by 16.4% during 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 during the period. Finally, Martingale Asset Management L P boosted its holdings in shares of Tactile Systems Technology by 16.6% during the 3rd quarter. Martingale Asset Management L P now owns 47,105 shares of the company’s stock valued at $688,000 after acquiring an additional 6,709 shares during the last quarter. 83.43% of the stock is owned by institutional investors.

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.