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

StockNews.com downgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a strong-buy rating to a buy rating in a report issued on Saturday.

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

Tactile Systems Technology Stock Up 1.7 %

Shares of NASDAQ TCMD opened at $13.22 on Friday. Tactile Systems Technology has a 52-week low of $11.12 and a 52-week high of $21.10. The stock has a market cap of $311.79 million, a P/E ratio of 18.89 and a beta of 1.24. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.80 and a current ratio of 4.36. The firm has a 50 day moving average price of $15.40 and a 200 day moving average price of $15.83.

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

Insiders Place Their Bets

In other Tactile Systems Technology news, VP Kristie Burns sold 4,830 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $14.65, for a total value of $70,759.50. Following the transaction, the vice president now directly owns 84,008 shares in the company, valued at $1,230,717.20. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of Tactile Systems Technology stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $14.70, for a total transaction of $55,536.60. Following the sale, the chief financial officer now directly owns 104,098 shares of the company’s stock, valued at $1,530,240.60. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,546 shares of company stock valued at $285,444. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tactile Systems Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp bought a new stake in shares of Tactile Systems Technology during the 4th quarter valued at $39,000. Virtus Fund Advisers LLC boosted its position in Tactile Systems Technology by 142.0% during the 4th quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company’s stock worth $72,000 after buying an additional 2,464 shares during the period. Quarry LP bought a new stake in shares of Tactile Systems Technology in the fourth quarter worth $81,000. 1620 Investment Advisors Inc. bought a new stake in shares of Tactile Systems Technology in the 4th quarter valued at about $97,000. Finally, Legal & General Group Plc raised its position in shares of Tactile Systems Technology by 33.2% during the fourth quarter. Legal & General Group Plc now owns 6,257 shares of the company’s stock worth $107,000 after acquiring an additional 1,558 shares during the last quarter. 83.43% of the stock is currently owned by institutional investors and hedge funds.

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.