StockNews.com cut shares of Tactile Systems Technology (NASDAQ:TCMD – Free Report) from a strong-buy rating to a buy rating in a research note released on Thursday.
Tactile Systems Technology Trading Up 0.6 %
Shares of NASDAQ:TCMD opened at $12.38 on Thursday. Tactile Systems Technology has a 52 week low of $9.69 and a 52 week high of $24.09. The company’s 50 day moving average is $12.23 and its two-hundred day moving average is $14.01. The company has a market cap of $294.15 million, a PE ratio of 10.32 and a beta of 1.18. The company has a current ratio of 4.26, a quick ratio of 3.63 and a debt-to-equity ratio of 0.13.
Tactile Systems Technology (NASDAQ:TCMD – Get Free Report) last posted its earnings results on Monday, May 6th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. Tactile Systems Technology had a return on equity of 15.88% and a net margin of 10.19%. The firm had revenue of $61.09 million for the quarter, compared to analyst estimates of $59.10 million. Equities analysts predict that Tactile Systems Technology will post 0.58 earnings per share for the current fiscal year.
Insiders Place Their Bets
Institutional Investors Weigh In On Tactile Systems Technology
Several institutional investors have recently made changes to their positions in TCMD. Cadian Capital Management LP acquired a new stake in shares of Tactile Systems Technology in the fourth quarter valued at about $24,954,000. First Light Asset Management LLC increased its holdings in Tactile Systems Technology by 38.1% in 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 buying an additional 788,535 shares in the last quarter. Wasatch Advisors LP acquired a new stake in shares of Tactile Systems Technology during the 1st quarter valued at approximately $8,687,000. Pinnacle Associates Ltd. purchased a new stake in shares of Tactile Systems Technology during the 4th quarter worth approximately $819,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Tactile Systems Technology in the 1st quarter worth approximately $815,000. 83.43% of the stock is currently owned by hedge funds and other institutional investors.
Tactile Systems Technology Company Profile
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.
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