Tactile Systems Technology (NASDAQ:TCMD) Downgraded by StockNews.com to Buy

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

Tactile Systems Technology Stock Performance

Tactile Systems Technology stock opened at $12.02 on Tuesday. Tactile Systems Technology has a 12-month low of $9.69 and a 12-month high of $26.11. The company has a quick ratio of 3.63, a current ratio of 4.26 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $12.43 and its two-hundred day moving average price is $14.09. The stock has a market cap of $285.60 million, a PE ratio of 9.83 and a beta of 1.18.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, May 6th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.06. The company had revenue of $61.09 million for the quarter, compared to analysts’ expectations of $59.10 million. Tactile Systems Technology had a return on equity of 15.88% and a net margin of 10.19%. As a group, analysts expect that Tactile Systems Technology will post 0.58 earnings per share for the current fiscal year.

Insider Transactions at Tactile Systems Technology

In related news, Director William W. Burke sold 2,500 shares of Tactile Systems Technology stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $14.06, for a total value of $35,150.00. Following the transaction, the director now directly owns 25,273 shares of the company’s stock, valued at $355,338.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director William W. Burke sold 2,500 shares of Tactile Systems Technology stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $14.06, for a total value of $35,150.00. Following the transaction, the director now directly owns 25,273 shares of the company’s stock, valued at $355,338.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Elaine M. Birkemeyer sold 3,041 shares of Tactile Systems Technology stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $13.68, for a total value of $41,600.88. Following the completion of the transaction, the chief financial officer now directly owns 61,295 shares in the company, valued at $838,515.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,356 shares of company stock worth $88,462. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Tactile Systems Technology

Institutional investors have recently added to or reduced their stakes in the business. First Light Asset Management LLC increased its holdings in shares of Tactile Systems Technology by 38.1% during the fourth quarter. First Light Asset Management LLC now owns 2,859,954 shares of the company’s stock valued at $40,897,000 after acquiring an additional 788,535 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Tactile Systems Technology during the third quarter valued at approximately $1,860,000. Wasatch Advisors LP bought a new stake in shares of Tactile Systems Technology during the first quarter valued at approximately $8,687,000. Vanguard Group Inc. increased its holdings in shares of Tactile Systems Technology by 0.7% during the third quarter. Vanguard Group Inc. now owns 1,370,403 shares of the company’s stock valued at $19,254,000 after acquiring an additional 9,863 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Tactile Systems Technology by 84.8% during the third quarter. Qube Research & Technologies Ltd now owns 127,014 shares of the company’s stock valued at $1,785,000 after acquiring an additional 58,300 shares in the last quarter. 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.