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

StockNews.com lowered shares of Tactile Systems Technology (NASDAQ:TCMD) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning.

Tactile Systems Technology Stock Up 1.9 %

Shares of NASDAQ TCMD opened at $12.02 on Tuesday. The company’s 50-day simple moving average is $12.43 and its 200-day simple moving average is $14.09. Tactile Systems Technology has a 52-week low of $9.69 and a 52-week high of $26.11. The firm has a market cap of $285.60 million, a price-to-earnings ratio of 9.83 and a beta of 1.18. The company has a quick ratio of 3.63, a current ratio of 4.26 and a debt-to-equity ratio of 0.13.

Tactile Systems Technology (NASDAQ:TCMD) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. The firm had revenue of $61.09 million for the quarter, compared to analyst estimates of $59.10 million. Tactile Systems Technology had a net margin of 10.19% and a return on equity of 15.88%. Equities analysts predict that Tactile Systems Technology will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Elaine M. Birkemeyer sold 3,041 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $13.68, for a total transaction of $41,600.88. Following the transaction, the chief financial officer now directly owns 61,295 shares in the company, valued at $838,515.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tactile Systems Technology news, Director William W. Burke sold 2,500 shares of Tactile Systems Technology stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $14.06, for a total transaction of $35,150.00. Following the transaction, the director now directly owns 25,273 shares of the company’s stock, valued at $355,338.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elaine M. Birkemeyer sold 3,041 shares of Tactile Systems Technology stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $13.68, for a total transaction of $41,600.88. Following the transaction, the chief financial officer now directly owns 61,295 shares in the company, valued at $838,515.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,356 shares of company stock worth $88,462. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Tactile Systems Technology

Institutional investors have recently bought and sold shares of the company. First Light Asset Management LLC raised its stake in shares of Tactile Systems Technology by 38.1% in the 4th quarter. First Light Asset Management LLC now owns 2,859,954 shares of the company’s stock valued at $40,897,000 after acquiring an additional 788,535 shares during the period. Cadian Capital Management LP purchased a new stake in shares of Tactile Systems Technology in the 4th quarter valued at approximately $24,954,000. Vanguard Group Inc. raised its stake in shares of Tactile Systems Technology by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,383,366 shares of the company’s stock valued at $22,480,000 after acquiring an additional 13,350 shares during the period. Wasatch Advisors LP purchased a new stake in shares of Tactile Systems Technology in the 1st quarter valued at approximately $8,687,000. Finally, Blair William & Co. IL raised its stake in shares of Tactile Systems Technology by 3.4% in the 1st quarter. Blair William & Co. IL now owns 308,842 shares of the company’s stock valued at $5,019,000 after acquiring an additional 10,297 shares during the period. 83.43% of the stock is owned by hedge funds and other institutional investors.

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.