Tactile Systems Technology (NASDAQ:TCMD) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Tactile Systems Technology (NASDAQ:TCMD - Free Report) from a strong-buy rating to a buy rating in a research report report published on Saturday.

Separately, B. Riley downgraded Tactile Systems Technology from a "buy" rating to a "neutral" rating and cut their target price for the company from $23.00 to $18.00 in a research report on Wednesday, February 19th.

Tactile Systems Technology Price Performance

Shares of Tactile Systems Technology stock traded up $0.22 during trading hours on Friday, hitting $13.22. The company's stock had a trading volume of 142,236 shares, compared to its average volume of 247,290. Tactile Systems Technology has a 12-month low of $11.12 and a 12-month high of $21.10. The business has a 50 day moving average price of $15.48 and a two-hundred day moving average price of $15.83. 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 company has a market cap of $311.79 million, a PE ratio of 18.89 and a beta of 1.24.

Tactile Systems Technology (NASDAQ:TCMD - Get Free Report) last posted its 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. The firm had revenue of $85.59 million during the quarter, compared to analyst estimates of $85.39 million. Tactile Systems Technology had a net margin of 5.79% and a return on equity of 9.37%. Analysts expect that Tactile Systems Technology will post 0.7 earnings per share for the current fiscal year.

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Insider Buying and Selling at Tactile Systems Technology

In other news, Director Daniel L. Reuvers sold 10,938 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $14.55, for a total transaction of $159,147.90. Following the transaction, the director now owns 242,942 shares in the company, valued at approximately $3,534,806.10. This trade represents a 4.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Elaine M. Birkemeyer sold 3,778 shares of the 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 transaction, the chief financial officer now owns 104,098 shares in the company, valued at approximately $1,530,240.60. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock valued at $285,444 in the last quarter. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Tactile Systems Technology

A number of hedge funds and other institutional investors have recently modified their holdings of TCMD. Jones Financial Companies Lllp purchased a new position in shares of Tactile Systems Technology in the 4th quarter worth approximately $39,000. Virtus Fund Advisers LLC grew its stake 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 last quarter. Quarry LP acquired a new position in Tactile Systems Technology during the 4th quarter valued at about $81,000. 1620 Investment Advisors Inc. purchased a new stake in Tactile Systems Technology in the fourth quarter valued at about $97,000. Finally, Legal & General Group Plc boosted its holdings in Tactile Systems Technology by 33.2% in 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 in the last quarter. 83.43% of the stock is currently owned by institutional investors.

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.