Tactile Systems Technology (NASDAQ:TCMD) Rating Increased to Strong-Buy at StockNews.com

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

Separately, B. Riley cut 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 Performance

NASDAQ:TCMD traded down $0.40 during mid-day trading on Friday, hitting $13.29. The stock had a trading volume of 416,839 shares, compared to its average volume of 245,653. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11. The company has a 50 day simple moving average of $15.89 and a 200-day simple moving average of $15.79. The stock has a market capitalization of $313.44 million, a price-to-earnings ratio of 18.99 and a beta of 1.24. Tactile Systems Technology has a 52 week low of $11.12 and a 52 week high of $21.10.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $85.59 million for the quarter, compared to analysts’ expectations of $85.39 million. On average, research analysts expect that Tactile Systems Technology will post 0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in shares of Tactile Systems Technology by 1.6% during the 4th quarter. Rhumbline Advisers now owns 38,033 shares of the company’s stock worth $651,000 after acquiring an additional 581 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Tactile Systems Technology by 2.8% during the fourth quarter. Sterling Capital Management LLC now owns 25,028 shares of the company’s stock valued at $429,000 after purchasing an additional 683 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Tactile Systems Technology by 12.7% in the 4th quarter. SG Americas Securities LLC now owns 12,032 shares of the company’s stock valued at $206,000 after purchasing an additional 1,354 shares during the period. Northern Trust Corp increased its stake in Tactile Systems Technology by 0.7% in the 4th quarter. Northern Trust Corp now owns 205,914 shares of the company’s stock worth $3,527,000 after purchasing an additional 1,371 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Tactile Systems Technology by 33.2% during the 4th quarter. Legal & General Group Plc now owns 6,257 shares of the company’s stock worth $107,000 after buying an additional 1,558 shares during the period. 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.