Tactile Systems Technology (NASDAQ:TCMD) Cut to Buy at StockNews.com

Tactile Systems Technology (NASDAQ:TCMD) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

A number of other analysts also recently weighed in on the stock. Oppenheimer downgraded shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. BTIG Research lowered shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Tuesday, November 5th. Finally, B. Riley initiated coverage on shares of Tactile Systems Technology in a report on Thursday, September 26th. They issued a “buy” rating and a $23.00 price target for the company.

Tactile Systems Technology Trading Up 1.9 %

NASDAQ TCMD opened at $18.70 on Wednesday. The company has a current ratio of 4.37, a quick ratio of 3.80 and a debt-to-equity ratio of 0.12. Tactile Systems Technology has a 12 month low of $11.12 and a 12 month high of $21.10. The company has a market capitalization of $448.80 million, a PE ratio of 28.77 and a beta of 1.20. The stock has a 50-day simple moving average of $15.67 and a 200 day simple moving average of $13.73.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TCMD. Paradigm Capital Management Inc. NY boosted its position in shares of Tactile Systems Technology by 90.1% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock worth $14,135,000 after buying an additional 561,073 shares during the period. Pinnacle Associates Ltd. boosted its position in Tactile Systems Technology by 324.9% during the 2nd quarter. Pinnacle Associates Ltd. now owns 317,024 shares of the company’s stock worth $3,785,000 after acquiring an additional 242,413 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Tactile Systems Technology during the 3rd quarter worth approximately $1,803,000. Los Angeles Capital Management LLC acquired a new stake in shares of Tactile Systems Technology in the second quarter valued at approximately $1,187,000. Finally, Federated Hermes Inc. lifted 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 worth $5,178,000 after purchasing an additional 90,960 shares in the last quarter. Institutional investors own 83.43% of the company’s stock.

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.