Tactile Systems Technology (NASDAQ:TCMD) Downgraded to “Market Perform” Rating by Oppenheimer

Oppenheimer downgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from an outperform rating to a market perform rating in a report issued on Tuesday morning, Marketbeat Ratings reports.

Several other research analysts also recently issued reports on the company. B. Riley initiated coverage on Tactile Systems Technology in a research note on Thursday, September 26th. They set a “buy” rating and a $23.00 price target for the company. BTIG Research downgraded shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Tuesday. Finally, StockNews.com raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 20th.

Tactile Systems Technology Trading Up 4.3 %

NASDAQ:TCMD opened at $15.26 on Tuesday. The company has a market capitalization of $362.46 million, a PE ratio of 23.47 and a beta of 1.17. The company has a quick ratio of 3.89, a current ratio of 4.44 and a debt-to-equity ratio of 0.12. Tactile Systems Technology has a 52-week low of $9.84 and a 52-week high of $16.95. The stock has a fifty day simple moving average of $14.10 and a 200-day simple moving average of $13.22.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Monday, August 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.10. The business had revenue of $73.22 million during the quarter, compared to the consensus estimate of $72.62 million. Tactile Systems Technology had a return on equity of 9.38% and a net margin of 5.42%. On average, equities research analysts expect that Tactile Systems Technology will post 0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TCMD. Sequoia Financial Advisors LLC acquired a new position in shares of Tactile Systems Technology during the 1st quarter valued at about $166,000. GSA Capital Partners LLP increased its stake in shares of Tactile Systems Technology by 63.1% during the 1st quarter. GSA Capital Partners LLP now owns 58,774 shares of the company’s stock valued at $955,000 after acquiring an additional 22,734 shares during the last quarter. Inspire Investing LLC increased its stake in shares of Tactile Systems Technology by 4.3% during the 1st quarter. Inspire Investing LLC now owns 55,904 shares of the company’s stock valued at $908,000 after acquiring an additional 2,310 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Tactile Systems Technology during the 1st quarter valued at about $171,000. Finally, Blair William & Co. IL increased its stake in shares of Tactile Systems Technology by 3.4% during the 1st quarter. Blair William & Co. IL now owns 308,842 shares of the company’s stock valued at $5,019,000 after acquiring an additional 10,297 shares during the last quarter. 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.