Tactile Systems Technology (NASDAQ:TCMD) Sets New 52-Week High – Still a Buy?

Tactile Systems Technology, Inc. (NASDAQ:TCMD)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $21.00 and last traded at $21.00, with a volume of 12267 shares changing hands. The stock had previously closed at $18.92.

Wall Street Analysts Forecast Growth

TCMD has been the subject of a number of research reports. StockNews.com downgraded shares of Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a research report on Monday. BTIG Research cut Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Tuesday, November 5th. Oppenheimer lowered Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Finally, B. Riley began 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.

Tactile Systems Technology Stock Performance

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 firm has a market capitalization of $454.32 million, a PE ratio of 29.12 and a beta of 1.17. The stock’s 50 day moving average price is $14.94 and its two-hundred day moving average price is $13.43.

Hedge Funds Weigh In On Tactile Systems Technology

Hedge funds have recently bought and sold shares of the stock. Paradigm Capital Management Inc. NY lifted its position in shares of Tactile Systems Technology by 90.1% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock valued at $14,135,000 after acquiring an additional 561,073 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in Tactile Systems Technology by 324.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 317,024 shares of the company’s stock valued at $3,785,000 after purchasing an additional 242,413 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Tactile Systems Technology during the 3rd quarter worth about $1,803,000. Los Angeles Capital Management LLC purchased a new stake in shares of Tactile Systems Technology during the second quarter worth about $1,187,000. Finally, Federated Hermes Inc. raised its position in shares of Tactile Systems Technology by 26.5% in the second quarter. Federated Hermes Inc. now owns 433,660 shares of the company’s stock valued at $5,178,000 after buying an additional 90,960 shares during the last quarter. Hedge funds and other institutional investors 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.