Short Interest in Tactile Systems Technology, Inc. (NASDAQ:TCMD) Rises By 32.1%

Tactile Systems Technology, Inc. (NASDAQ:TCMD) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,400,000 shares, a growth of 32.1% from the December 15th total of 1,060,000 shares. Based on an average trading volume of 265,100 shares, the short-interest ratio is presently 5.3 days.

Analyst Ratings Changes

A number of equities research analysts recently commented on TCMD shares. BTIG Research lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 5th. Oppenheimer cut Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. StockNews.com lowered Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, B. Riley assumed coverage on shares of Tactile Systems Technology in a research report on Thursday, September 26th. They set a “buy” rating and a $23.00 price target on the stock.

Institutional Investors Weigh In On Tactile Systems Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its holdings in Tactile Systems Technology by 28.1% in the third quarter. FMR LLC now owns 79,348 shares of the company’s stock valued at $1,159,000 after acquiring an additional 17,393 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of Tactile Systems Technology by 9.8% in 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 during the last quarter. Paradigm Capital Management Inc. NY boosted its stake in shares of Tactile Systems Technology by 90.1% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock valued at $14,135,000 after purchasing an additional 561,073 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Tactile Systems Technology during the 2nd quarter worth approximately $706,000. Finally, Geode Capital Management LLC raised its stake in shares of Tactile Systems Technology by 1.5% during the third quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock worth $8,164,000 after buying an additional 8,422 shares during the last quarter. 83.43% of the stock is owned by institutional investors and hedge funds.

Tactile Systems Technology Price Performance

Shares of Tactile Systems Technology stock traded down $0.06 during midday trading on Thursday, reaching $17.43. The company had a trading volume of 218,936 shares, compared to its average volume of 199,461. The company has a current ratio of 4.37, a quick ratio of 3.80 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $17.38 and a 200 day simple moving average of $14.75. Tactile Systems Technology has a 1-year low of $11.12 and a 1-year high of $21.10. The company has a market capitalization of $418.27 million, a price-to-earnings ratio of 26.82 and a beta of 1.21.

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.