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

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 report issued to clients and investors on Thursday.

TCMD has been the topic of several other reports. Oppenheimer cut shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. B. Riley assumed coverage on shares of Tactile Systems Technology in a research note on Thursday, September 26th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, BTIG Research cut shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 5th.

Tactile Systems Technology Stock Up 0.2 %

Shares of NASDAQ:TCMD opened at $17.49 on Thursday. The company has a quick ratio of 3.80, a current ratio of 4.37 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $419.71 million, a P/E ratio of 26.91 and a beta of 1.21. Tactile Systems Technology has a 52-week low of $11.12 and a 52-week high of $21.10. The stock’s fifty day simple moving average is $17.38 and its 200-day simple moving average is $14.75.

Institutional Trading of Tactile Systems Technology

A number of hedge funds have recently added to or reduced their stakes in the business. Paradigm Capital Management Inc. NY increased its stake in shares of Tactile Systems Technology by 90.1% during the 2nd 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 during the last quarter. Wasatch Advisors LP raised its position in shares of Tactile Systems Technology by 9.8% in the 3rd quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock worth $10,624,000 after buying an additional 64,684 shares during the period. Royce & Associates LP boosted its holdings in Tactile Systems Technology by 2.5% in the third quarter. Royce & Associates LP now owns 612,979 shares of the company’s stock valued at $8,956,000 after acquiring an additional 14,780 shares during the last quarter. Geode Capital Management LLC grew its position in Tactile Systems Technology by 1.5% during the third quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock valued at $8,164,000 after acquiring an additional 8,422 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of Tactile Systems Technology by 26.5% in the 2nd 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 during the period. 83.43% of the stock is owned by institutional investors and hedge funds.

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.