Tactile Systems Technology (NASDAQ:TCMD) Upgraded to “Strong-Buy” at StockNews.com

Tactile Systems Technology (NASDAQ:TCMD) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

A number of other research analysts also recently issued reports on the stock. Oppenheimer downgraded shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. B. Riley initiated 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. Finally, BTIG Research lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Tuesday, November 5th.

Tactile Systems Technology Stock Down 0.1 %

Shares of Tactile Systems Technology stock opened at $17.50 on Wednesday. The business has a 50-day moving average price of $16.97 and a 200 day moving average price of $14.48. Tactile Systems Technology has a fifty-two week low of $11.12 and a fifty-two week high of $21.10. The firm has a market cap of $419.95 million, a P/E ratio of 26.92 and a beta of 1.21. The company has a quick ratio of 3.80, a current ratio of 4.37 and a debt-to-equity ratio of 0.12.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TCMD. Paradigm Capital Management Inc. NY increased its holdings in Tactile Systems Technology by 90.1% in 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 period. Essex Investment Management Co. LLC bought a new stake in Tactile Systems Technology in the third quarter valued at about $1,803,000. Los Angeles Capital Management LLC acquired a new position in Tactile Systems Technology in the second quarter worth about $1,187,000. Federated Hermes Inc. raised its position in Tactile Systems Technology by 26.5% in the second quarter. Federated Hermes Inc. now owns 433,660 shares of the company’s stock worth $5,178,000 after purchasing an additional 90,960 shares in the last quarter. Finally, Wasatch Advisors LP lifted its stake in Tactile Systems Technology by 9.8% during the third quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock worth $10,624,000 after purchasing an additional 64,684 shares during the period. 83.43% of the stock is owned by institutional investors and hedge funds.

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.