Tactile Systems Technology (NASDAQ:TCMD) Now Covered by Analysts at B. Riley

B. Riley began coverage on shares of Tactile Systems Technology (NASDAQ:TCMD) in a report published on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $23.00 target price on the stock.

Separately, StockNews.com raised Tactile Systems Technology from a buy rating to a strong-buy rating in a report on Friday, September 20th.

Tactile Systems Technology Price Performance

NASDAQ TCMD opened at $14.35 on Thursday. Tactile Systems Technology has a one year low of $9.69 and a one year high of $16.95. The stock has a 50-day moving average of $13.14 and a 200 day moving average of $13.46. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.89 and a current ratio of 4.44. The company has a market capitalization of $340.96 million, a price-to-earnings ratio of 11.96 and a beta of 1.17.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. Tactile Systems Technology had a net margin of 11.57% and a return on equity of 16.94%. The firm had revenue of $73.22 million during the quarter, compared to analyst estimates of $72.62 million. On average, sell-side analysts forecast that Tactile Systems Technology will post 0.63 EPS for the current year.

Hedge Funds Weigh In On Tactile Systems Technology

Several large investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Tactile Systems Technology during the 2nd quarter valued at $46,000. Mackenzie Financial Corp bought a new stake in Tactile Systems Technology during the second quarter valued at about $166,000. AQR Capital Management LLC raised its holdings in Tactile Systems Technology by 1.9% during the second quarter. AQR Capital Management LLC now owns 269,431 shares of the company’s stock valued at $3,217,000 after acquiring an additional 4,961 shares during the period. AXA S.A. purchased a new position in shares of Tactile Systems Technology in the second quarter valued at about $446,000. Finally, Paradigm Capital Management Inc. NY boosted its stake in shares of Tactile Systems Technology by 90.1% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock worth $14,135,000 after acquiring an additional 561,073 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.