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

StockNews.com downgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a strong-buy rating to a buy rating in a research note published on Tuesday morning.

Several other analysts have also issued reports on TCMD. BTIG Research lowered shares of Tactile Systems Technology from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 5th. Oppenheimer cut Tactile Systems Technology from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Finally, B. Riley initiated coverage on Tactile Systems Technology in a report on Thursday, September 26th. They set a “buy” rating and a $23.00 target price for the company.

Tactile Systems Technology Trading Down 0.1 %

Shares of NASDAQ:TCMD opened at $17.12 on Tuesday. The business’s 50 day moving average price is $16.84 and its 200-day moving average price is $14.35. Tactile Systems Technology has a 1 year low of $11.12 and a 1 year high of $21.10. The firm has a market capitalization of $410.83 million, a price-to-earnings ratio of 26.34 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.37 and a quick ratio of 3.80.

Institutional Investors Weigh In On Tactile Systems Technology

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in Tactile Systems Technology by 14.6% during the second quarter. Bank of New York Mellon Corp now owns 182,752 shares of the company’s stock worth $2,182,000 after acquiring an additional 23,296 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Tactile Systems Technology by 27.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 33,373 shares of the company’s stock worth $398,000 after purchasing an additional 7,287 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Tactile Systems Technology by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 39,318 shares of the company’s stock worth $469,000 after purchasing an additional 4,099 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Tactile Systems Technology in the second quarter valued at approximately $1,187,000. Finally, Acadian Asset Management LLC increased 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 last quarter. 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.