Tactile Systems Technology (NASDAQ:TCMD) Upgraded at StockNews.com

StockNews.com upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a strong-buy rating in a research report report published on Thursday.

Tactile Systems Technology Trading Up 3.2 %

NASDAQ TCMD opened at $11.94 on Thursday. The business has a 50 day simple moving average of $12.95 and a 200 day simple moving average of $14.26. The stock has a market capitalization of $283.72 million, a P/E ratio of 9.95 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.26 and a quick ratio of 3.63. Tactile Systems Technology has a one year low of $9.69 and a one year high of $26.11.

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

Insider Activity

In related news, Director William W. Burke sold 2,500 shares of Tactile Systems Technology stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $14.06, for a total transaction of $35,150.00. Following the sale, the director now directly owns 25,273 shares in the company, valued at $355,338.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tactile Systems Technology news, CFO Elaine M. Birkemeyer sold 3,041 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $13.68, for a total value of $41,600.88. Following the completion of the sale, the chief financial officer now directly owns 61,295 shares of the company’s stock, valued at $838,515.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William W. Burke sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $14.06, for a total value of $35,150.00. Following the completion of the sale, the director now directly owns 25,273 shares of the company’s stock, valued at $355,338.38. The disclosure for this sale can be found here. Insiders have sold 6,356 shares of company stock worth $88,462 over the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tactile Systems Technology

Several hedge funds have recently made changes to their positions in the stock. First Light Asset Management LLC grew its position in shares of Tactile Systems Technology by 38.1% in the fourth quarter. First Light Asset Management LLC now owns 2,859,954 shares of the company’s stock valued at $40,897,000 after purchasing an additional 788,535 shares in the last quarter. Cadian Capital Management LP bought a new position in shares of Tactile Systems Technology during the fourth quarter valued at approximately $24,954,000. Vanguard Group Inc. lifted its position 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 worth $22,480,000 after purchasing an additional 13,350 shares during the period. FMR LLC raised its stake in Tactile Systems Technology by 62.1% in the third quarter. FMR LLC now owns 579,392 shares of the company’s stock worth $8,140,000 after buying an additional 222,012 shares in the last quarter. Finally, Wasatch Advisors LP bought a new position in Tactile Systems Technology in the first quarter worth about $8,687,000. 83.43% of the stock is currently 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.