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

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

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

Tactile Systems Technology Trading Down 2.3 %

NASDAQ:TCMD opened at $13.00 on Friday. The firm has a market capitalization of $306.61 million, a P/E ratio of 18.57 and a beta of 1.24. The company has a fifty day moving average of $15.48 and a 200 day moving average of $15.81. The company has a quick ratio of 3.80, a current ratio of 4.36 and a debt-to-equity ratio of 0.11. Tactile Systems Technology has a 52 week low of $11.12 and a 52 week high of $21.10.

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

Insider Activity

In related news, CFO Elaine M. Birkemeyer sold 3,778 shares of Tactile Systems Technology stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $14.70, for a total value 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. This trade represents a 3.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel L. Reuvers sold 10,938 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $14.55, for a total value of $159,147.90. Following the completion of the transaction, the director now directly owns 242,942 shares in the company, valued at approximately $3,534,806.10. The trade was a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,546 shares of company stock worth $285,444. 0.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Tactile Systems Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in TCMD. Mackenzie Financial Corp raised its stake in shares of Tactile Systems Technology by 164.1% during the 4th quarter. Mackenzie Financial Corp now owns 36,295 shares of the company’s stock valued at $622,000 after buying an additional 22,551 shares during the last quarter. PharVision Advisers LLC acquired a new position in Tactile Systems Technology in the fourth quarter valued at approximately $306,000. Virtus Fund Advisers LLC boosted its position in Tactile Systems Technology by 142.0% in the 4th quarter. Virtus Fund Advisers LLC now owns 4,199 shares of the company’s stock worth $72,000 after purchasing an additional 2,464 shares in the last quarter. Virtus Investment Advisers Inc. grew its stake in shares of Tactile Systems Technology by 74.6% during the 4th quarter. Virtus Investment Advisers Inc. now owns 27,931 shares of the company’s stock worth $478,000 after purchasing an additional 11,930 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of Tactile Systems Technology during the 4th quarter worth approximately $239,000. 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.