Tactile Systems Technology (NASDAQ:TCMD) Cut to Neutral at BTIG Research

BTIG Research lowered shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a neutral rating in a report published on Tuesday, Marketbeat reports.

A number of other equities analysts have also weighed in on the stock. B. Riley started 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 target for the company. StockNews.com raised shares of Tactile Systems Technology from a “buy” rating to a “strong-buy” rating in a report on Friday, September 20th.

Tactile Systems Technology Stock Down 1.5 %

TCMD stock opened at $15.02 on Tuesday. The business’s 50-day moving average price is $14.13 and its 200-day moving average price is $13.22. The stock has a market cap of $360.48 million, a P/E ratio of 23.11 and a beta of 1.17. Tactile Systems Technology has a twelve month low of $10.06 and a twelve month high of $16.95. The company has a quick ratio of 3.89, a current ratio of 4.37 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On Tactile Systems Technology

Several institutional investors and hedge funds have recently modified their holdings of TCMD. Janus Henderson Group PLC purchased a new position in Tactile Systems Technology during the first quarter valued at $815,000. Paradigm Capital Management Inc. NY grew 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 valued at $14,135,000 after purchasing an additional 561,073 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Tactile Systems Technology in the second quarter worth about $706,000. Federated Hermes Inc. lifted its position in shares of Tactile Systems Technology by 26.5% in the second quarter. Federated Hermes Inc. now owns 433,660 shares of the company’s stock worth $5,178,000 after buying an additional 90,960 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position 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 worth $1,884,000 after buying an additional 37,813 shares in the last quarter. Institutional investors own 83.43% of the company’s stock.

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.