Tactile Systems Technology (NASDAQ:TCMD) Cut to Buy at StockNews.com

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

Tactile Systems Technology Trading Up 2.6 %

Shares of NASDAQ TCMD opened at $11.80 on Tuesday. The company has a current ratio of 4.26, a quick ratio of 3.63 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $280.37 million, a PE ratio of 9.83 and a beta of 1.18. Tactile Systems Technology has a twelve month low of $9.69 and a twelve month high of $26.11. The stock has a fifty day simple moving average of $12.48 and a 200-day simple moving average of $14.11.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, May 6th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. The company had revenue of $61.09 million during the quarter, compared to analysts’ expectations of $59.10 million. Tactile Systems Technology had a return on equity of 15.88% and a net margin of 10.19%. On average, equities analysts forecast that Tactile Systems Technology will post 0.58 earnings per share for the current year.

Insiders Place Their Bets

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 3,041 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $13.68, for a total value of $41,600.88. Following the completion of the transaction, the chief financial officer now owns 61,295 shares in the company, valued at $838,515.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 3,041 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $13.68, for a total value of $41,600.88. Following the sale, the chief financial officer now owns 61,295 shares of the company’s stock, valued at approximately $838,515.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William W. Burke sold 2,500 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $14.06, for a total value of $35,150.00. Following the transaction, the director now directly owns 25,273 shares of the company’s stock, valued at $355,338.38. The disclosure for this sale can be found here. Insiders have sold a total of 6,356 shares of company stock worth $88,462 in the last ninety days. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tactile Systems Technology

A number of large investors have recently modified their holdings of TCMD. First Light Asset Management LLC increased its holdings in Tactile Systems Technology by 38.1% in the fourth quarter. First Light Asset Management LLC now owns 2,859,954 shares of the company’s stock valued at $40,897,000 after buying an additional 788,535 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Tactile Systems Technology in the 3rd quarter valued at about $1,860,000. Wasatch Advisors LP acquired a new stake in shares of Tactile Systems Technology during the 1st quarter worth about $8,687,000. Vanguard Group Inc. lifted its stake in Tactile Systems Technology by 0.7% during the third quarter. Vanguard Group Inc. now owns 1,370,403 shares of the company’s stock worth $19,254,000 after purchasing an additional 9,863 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in Tactile Systems Technology by 84.8% in the third quarter. Qube Research & Technologies Ltd now owns 127,014 shares of the company’s stock valued at $1,785,000 after purchasing an additional 58,300 shares in the last quarter. 83.43% of the stock is owned by hedge funds and other 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.