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

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

Tactile Systems Technology Stock Down 0.5 %

TCMD traded down $0.07 during trading on Friday, hitting $14.17. 451,647 shares of the company’s stock were exchanged, compared to its average volume of 259,471. Tactile Systems Technology has a fifty-two week low of $9.69 and a fifty-two week high of $16.95. The stock has a market cap of $336.68 million, a P/E ratio of 11.81 and a beta of 1.17. The business’s 50 day moving average is $13.06 and its two-hundred day moving average is $13.50. The company has a quick ratio of 3.89, a current ratio of 4.44 and a debt-to-equity ratio of 0.12.

Tactile Systems Technology (NASDAQ:TCMD) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate 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 net margin of 11.57% and a return on equity of 16.94%. As a group, equities analysts expect that Tactile Systems Technology will post 0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tactile Systems Technology

Large investors have recently bought and sold shares of the stock. Palisade Asset Management LLC purchased a new stake in shares of Tactile Systems Technology in the first quarter valued at about $32,000. Quarry LP purchased a new stake in Tactile Systems Technology in the 2nd quarter valued at about $46,000. Magnetar Financial LLC purchased a new stake in Tactile Systems Technology in the 2nd quarter valued at about $130,000. RiverPark Advisors LLC grew its holdings in shares of Tactile Systems Technology by 802.5% in the first quarter. RiverPark Advisors LLC now owns 8,610 shares of the company’s stock valued at $140,000 after acquiring an additional 7,656 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Tactile Systems Technology during the first quarter valued at approximately $166,000. 83.43% of the stock is currently owned by 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.