Tactile Systems Technology (NASDAQ:TCMD) Lowered to Market Perform Rating by Oppenheimer

Oppenheimer cut shares of Tactile Systems Technology (NASDAQ:TCMD - Free Report) from an outperform rating to a market perform rating in a research report report published on Tuesday, MarketBeat Ratings reports.

Other equities research analysts have also issued research reports about the stock. StockNews.com upgraded shares of Tactile Systems Technology from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 20th. B. Riley began coverage on shares of Tactile Systems Technology in a report on Thursday, September 26th. They issued a "buy" rating and a $23.00 price objective for the company. Finally, BTIG Research cut Tactile Systems Technology from a "buy" rating to a "neutral" rating in a report on Tuesday.

Tactile Systems Technology Trading Down 11.1 %

NASDAQ:TCMD traded down $1.68 on Tuesday, reaching $13.43. The stock had a trading volume of 725,790 shares, compared to its average volume of 243,501. Tactile Systems Technology has a 12-month low of $9.69 and a 12-month high of $16.95. The firm's fifty day moving average is $14.03 and its two-hundred day moving average is $13.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.44 and a quick ratio of 3.89. The company has a market cap of $319.12 million, a price-to-earnings ratio of 20.63 and a beta of 1.17.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.10. Tactile Systems Technology had a net margin of 11.57% and a return on equity of 16.94%. The company had revenue of $73.22 million during the quarter, compared to analysts' expectations of $72.62 million. Equities analysts expect that Tactile Systems Technology will post 0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Tactile Systems Technology

Several institutional investors have recently modified their holdings of TCMD. Los Angeles Capital Management LLC lifted its position in Tactile Systems Technology by 36.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 135,796 shares of the company's stock valued at $1,984,000 after acquiring an additional 36,409 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Tactile Systems Technology during the 3rd quarter worth about $29,000. Creative Planning bought a new position in shares of Tactile Systems Technology in the 3rd quarter valued at about $187,000. Essex Investment Management Co. LLC acquired a new stake in shares of Tactile Systems Technology in the third quarter valued at about $1,803,000. Finally, Inspire Investing LLC bought a new stake in Tactile Systems Technology during the third quarter worth about $897,000. Institutional investors and hedge funds own 83.43% of the company's stock.

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.