Short Interest in Tactile Systems Technology, Inc. (NASDAQ:TCMD) Declines By 22.3%

Tactile Systems Technology, Inc. (NASDAQ:TCMD) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 978,400 shares, a drop of 22.3% from the October 31st total of 1,260,000 shares. Based on an average daily trading volume, of 214,500 shares, the short-interest ratio is currently 4.6 days.

Tactile Systems Technology Stock Up 3.2 %

Tactile Systems Technology stock traded up $0.61 during mid-day trading on Friday, reaching $19.54. 403,722 shares of the company were exchanged, compared to its average volume of 258,923. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.80 and a current ratio of 4.37. The firm has a market cap of $468.96 million, a P/E ratio of 30.06 and a beta of 1.17. The business has a fifty day moving average of $15.15 and a 200 day moving average of $13.51. Tactile Systems Technology has a 12-month low of $11.12 and a 12-month high of $21.10.

Hedge Funds Weigh In On Tactile Systems Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings 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 buying an additional 13,350 shares in the last quarter. Paradigm Capital Management Inc. NY increased its position in shares of Tactile Systems Technology by 90.1% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,183,800 shares of the company’s stock worth $14,135,000 after purchasing an additional 561,073 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of Tactile Systems Technology by 9.8% during the 3rd quarter. Wasatch Advisors LP now owns 727,194 shares of the company’s stock valued at $10,624,000 after purchasing an additional 64,684 shares during the last quarter. Royce & Associates LP increased its position in Tactile Systems Technology by 2.5% during the 3rd quarter. Royce & Associates LP now owns 612,979 shares of the company’s stock valued at $8,956,000 after buying an additional 14,780 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Tactile Systems Technology by 1.5% in the third quarter. Geode Capital Management LLC now owns 558,667 shares of the company’s stock valued at $8,164,000 after buying an additional 8,422 shares during the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TCMD. Oppenheimer downgraded shares of Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. StockNews.com downgraded Tactile Systems Technology from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. B. Riley began coverage on shares of Tactile Systems Technology in a research report on Thursday, September 26th. They issued a “buy” rating and a $23.00 price objective for the company. Finally, BTIG Research cut Tactile Systems Technology from a “buy” rating to a “neutral” rating in a report on Tuesday, November 5th.

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.