Tactile Systems Technology (NASDAQ:TCMD) Upgraded to Strong-Buy at StockNews.com

Tactile Systems Technology (NASDAQ:TCMD) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Friday.

Separately, B. Riley cut Tactile Systems Technology from a “buy” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $18.00 in a research note on Wednesday, February 19th.

Tactile Systems Technology Stock Down 2.9 %

Shares of NASDAQ TCMD opened at $13.29 on Friday. Tactile Systems Technology has a 12 month low of $11.12 and a 12 month high of $21.10. The firm has a market capitalization of $313.44 million, a PE ratio of 18.99 and a beta of 1.24. The firm has a fifty day simple moving average of $15.89 and a two-hundred day simple moving average of $15.80. The company has a current ratio of 4.36, a quick ratio of 3.80 and a debt-to-equity ratio of 0.11.

Tactile Systems Technology (NASDAQ:TCMD) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.09. The company had revenue of $85.59 million for the quarter, compared to analyst estimates of $85.39 million. Tactile Systems Technology had a return on equity of 9.37% and a net margin of 5.79%. Equities analysts expect that Tactile Systems Technology will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 3,778 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 104,098 shares in the company, valued at $1,530,240.60. The trade was a 3.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Kristie Burns sold 4,830 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $14.65, for a total transaction of $70,759.50. Following the completion of the transaction, the vice president now owns 84,008 shares in the company, valued at $1,230,717.20. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,546 shares of company stock valued at $285,444. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of Tactile Systems Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. purchased a new stake in shares of Tactile Systems Technology during the third quarter worth about $180,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tactile Systems Technology by 8.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 127,175 shares of the company’s stock worth $1,858,000 after acquiring an additional 9,485 shares during the last quarter. FMR LLC boosted its position in shares of Tactile Systems Technology by 28.1% during the third quarter. FMR LLC now owns 79,348 shares of the company’s stock valued at $1,159,000 after buying an additional 17,393 shares during the period. BNP Paribas Financial Markets boosted its holdings in Tactile Systems Technology by 16.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 45,374 shares of the company’s stock valued at $663,000 after acquiring an additional 6,401 shares during the period. Finally, Martingale Asset Management L P boosted its stake in shares of Tactile Systems Technology by 16.6% during the third quarter. Martingale Asset Management L P now owns 47,105 shares of the company’s stock valued at $688,000 after purchasing an additional 6,709 shares during the period. 83.43% of the stock is owned by hedge funds and other 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.