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

Tactile Systems Technology (NASDAQ:TCMD) was downgraded by investment analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, Marketbeat.com reports.

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

Tactile Systems Technology Stock Up 8.9 %

Shares of TCMD stock opened at $14.62 on Tuesday. 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 has a one year low of $9.69 and a one year high of $16.95. The company’s fifty day moving average price is $14.07 and its 200-day moving average price is $13.20. The company has a market capitalization of $347.37 million, a price-to-earnings ratio of 22.49 and a beta of 1.17.

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

Hedge Funds Weigh In On Tactile Systems Technology

Institutional investors have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new stake in shares of Tactile Systems Technology during the 3rd quarter worth approximately $29,000. Gladius Capital Management LP purchased a new stake in Tactile Systems Technology during the third quarter valued at $44,000. Quarry LP bought a new position in Tactile Systems Technology during the second quarter valued at $46,000. Magnetar Financial LLC purchased a new position in shares of Tactile Systems Technology in the 2nd quarter worth $130,000. Finally, SG Americas Securities LLC bought a new stake in shares of Tactile Systems Technology in the 3rd quarter worth about $156,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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.