Oppenheimer Downgrades Tactile Systems Technology (NASDAQ:TCMD) to Market Perform

Tactile Systems Technology (NASDAQ:TCMD) was downgraded by equities researchers at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday, MarketBeat reports.

A number of other brokerages have also commented on TCMD. BTIG Research lowered Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Tuesday. StockNews.com upgraded shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 20th. Finally, B. Riley began coverage on shares of Tactile Systems Technology in a research report on Thursday, September 26th. They set a “buy” rating and a $23.00 target price for the company.

Tactile Systems Technology Trading Up 8.9 %

NASDAQ:TCMD opened at $14.62 on Tuesday. The company has a current ratio of 4.44, a quick ratio of 3.89 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $14.07 and a 200-day simple moving average of $13.20. Tactile Systems Technology has a 12 month low of $9.69 and a 12 month high of $16.95. The company has a market capitalization of $347.37 million, a P/E ratio of 22.49 and a beta of 1.17.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI purchased a new position in shares of Tactile Systems Technology during the 3rd quarter valued at approximately $29,000. Gladius Capital Management LP acquired a new stake in Tactile Systems Technology during the third quarter valued at $44,000. Quarry LP purchased a new position in Tactile Systems Technology in the second quarter valued at $46,000. Magnetar Financial LLC acquired a new position in shares of Tactile Systems Technology in the second quarter worth about $130,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Tactile Systems Technology during the 3rd quarter valued at about $156,000. 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.