Tactile Systems Technology (NASDAQ:TCMD) Rating Lowered to “Neutral” at BTIG Research

BTIG Research lowered shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a neutral rating in a research note published on Tuesday, Marketbeat Ratings reports.

TCMD has been the subject of a number of other reports. StockNews.com upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 20th. B. Riley started coverage on shares of Tactile Systems Technology in a research report on Thursday, September 26th. They issued a “buy” rating and a $23.00 target price for the company.

Tactile Systems Technology Stock Performance

NASDAQ:TCMD opened at $15.26 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.89 and a current ratio of 4.44. The company has a fifty day moving average of $14.10 and a two-hundred day moving average of $13.22. The stock has a market capitalization of $362.46 million, a PE ratio of 23.47 and a beta of 1.17. Tactile Systems Technology has a fifty-two week low of $9.84 and a fifty-two week high of $16.95.

Tactile Systems Technology (NASDAQ:TCMD) last issued its earnings results on Monday, August 5th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. The business had revenue of $73.22 million during the quarter, compared to analysts’ expectations of $72.62 million. Tactile Systems Technology had a net margin of 5.42% and a return on equity of 9.38%. As a group, research analysts forecast that Tactile Systems Technology will post 0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tactile Systems Technology

Hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC purchased a new stake in shares of Tactile Systems Technology in the first quarter valued at about $815,000. Paradigm Capital Management Inc. NY grew its holdings 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 purchasing an additional 561,073 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Tactile Systems Technology in the second quarter valued at about $706,000. Federated Hermes Inc. grew its holdings 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 purchasing an additional 90,960 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Tactile Systems Technology by 31.5% in the second quarter. Acadian Asset Management LLC now owns 157,925 shares of the company’s stock valued at $1,884,000 after purchasing an additional 37,813 shares during the period. Hedge funds and other 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.