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

StockNews.com upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a strong-buy rating in a research report released on Friday morning.

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

Tactile Systems Technology Price Performance

Shares of TCMD stock opened at $13.29 on Friday. The stock has a 50 day moving average of $15.89 and a two-hundred day moving average of $15.79. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11. Tactile Systems Technology has a 12 month low of $11.12 and a 12 month high of $21.10. The company has a market capitalization of $313.44 million, a P/E ratio of 18.99 and a beta of 1.24.

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

Insider Buying and Selling

In related news, CFO Elaine M. Birkemeyer sold 3,778 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.70, for a total transaction of $55,536.60. Following the completion of the sale, the chief financial officer now directly owns 104,098 shares of the company’s stock, valued at $1,530,240.60. This trade represents a 3.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel L. Reuvers sold 10,938 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $14.55, for a total value of $159,147.90. Following the sale, the director now directly owns 242,942 shares of the company’s stock, valued at $3,534,806.10. This represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock worth $285,444 in the last 90 days. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tactile Systems Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its holdings in Tactile Systems Technology by 28.1% during the 3rd quarter. FMR LLC now owns 79,348 shares of the company’s stock valued at $1,159,000 after purchasing an additional 17,393 shares in the last quarter. Wasatch Advisors LP increased its holdings in Tactile Systems Technology by 9.8% during the 3rd quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock valued at $10,624,000 after purchasing an additional 64,684 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Tactile Systems Technology by 9.9% in the 4th quarter. Principal Financial Group Inc. now owns 20,401 shares of the company’s stock valued at $349,000 after buying an additional 1,836 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Tactile Systems Technology in the 4th quarter valued at $1,328,000. Finally, Geode Capital Management LLC increased its stake in shares of Tactile Systems Technology by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock valued at $8,164,000 after buying an additional 8,422 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.